The country’s largest medical cannabis producer and Smith Falls-based Canopy Growth Corp. has plans to branch out in a big way.
“As we move into beverages, it’s not just about who’s making the beverage, but it’s you know, who’s creating the story around that beverage,” Canopy president, Mark Zekulin, said.
It was announced last week that Constellation Brands, best known for its production of Corona Beer, bought a 9.9 per cent stake in Canopy Growth Corp. setting off speculation it was about to enter the cannabis beverage market.
“We’re already seeing the food products in some cases and I think it really fits with the notion of the various reasons why someone consumes alcohol,” Queen’s University Business Professor Ken Wong said of the deal.
The company said it’s hard to predict how many jobs the move could mean in Smiths Falls, but it has already grown significantly since setting up there.
With moves like partnering up with rap-star Snoop Dogg, or other medical cannabis producers to sell on its Tweed Main Street website, Canopy Growth believes the move into beverages seems like the logical next step in this budding industry.