Ace Valley Brand Expands Product Portfolio

SMITHS FALLS, ON, Feb. 3, 2022 /CNW/ – Canopy Growth Corporation (“Canopy Growth” or “the Company“) (TSX: WEED) (NASDAQ: CGC), a world-leading diversified cannabis, hemp, and cannabis device company, today announced the extension of the Ace Valley brand portfolio, bringing two new beverages and hard candy formats to market. Marking the brand’s first-ever beverage offerings, Daylight and Moonwave are occasion-based ready-to-drink THC and CBD-infused drinks designed to help consumers start and end their days. Newly launched Citrus Ginger Super CBD hard candies are the brand’s first single 20mg CBD-infused hard candy product.

Daylight and Moonwave bring the first occasion-based cannabis beverage portfolio from Ace Valley to the Canadian market. Daylight, a zesty sparkling water provides a burst of uplifting citrus flavor with a hint of ginseng, offering 2.5mg THC and 5mg CBD, and is the perfect way to start the day. Moonwave is a berry flavour sparkling water with a touch of lavender and vanilla flavours, offering 2mg THC and 10mg CBD, serves as the perfect addition to a nighttime routine. With thoughtfully crafted, bold, natural flavours, these ready to enjoy beverages will be available in convenient 222ml cans.

As the CBD-infused edible market in Canada evolves, sales for CBD-infused candy have increased more than eight times in the past year¹. With growing consumer demand, Ace Valley is introducing its first ever CBD-infused hard candy. Citrus Ginger Super CBD hard candies feature a unique blend of sugar-free citrus fruit flavour, with a light kick of ginger, and contain 20mg CBD and 1mg THC per candy. Sold in packs of 10, the Citrus Ginger Super CBD hard candies offer an on-the-go, easy-to-use format for CBD consumption.

“We’re thrilled to bring the first infused beverage and hard candy format to the Ace Valley portfolio which continues to delight Canadian consumers with its roster of premium, ready-to-enjoy products,” said Tara Rozalowsky, Interim Chief Product Officer. “We’ve developed our innovation pipeline to meet the evolving nature of how cannabis is consumed and the growing consumer demand for products used for different occasions and use cases.”

The new Ace Valley products build on the brand’s expansive lineup of thoughtfully curated THC and CBD-infused gummies, vapes, and pre-rolled joints. Daylight and Moonwave infused-beverages and Super CBD hard candies will be available for purchase in select markets via legal recreational cannabis retail locations and e-commerce channels.

About Canopy Growth Corporation

Canopy Growth (TSX:WEED, NASDAQ:CGC) is a world-leading diversified cannabis and cannabinoid-based consumer product company, driven by a passion to improve lives, end prohibition, and strengthen communities by unleashing the full potential of cannabis. Leveraging consumer insights and innovation, we offer product varieties in high-quality dried flower, oil, softgel capsule, infused beverage, edible, and topical formats, as well as vaporizer devices by Canopy Growth and industry-leader Storz & Bickel. Our global medical brand, Spectrum Therapeutics, sells a range of full-spectrum products using its colour-coded classification system and is a market leader in both Canada and Germany. Through our award-winning Tweed and Tokyo Smoke banners, we reach our adult-use consumers and have built a loyal following by focusing on top quality products and meaningful customer relationships. Canopy Growth has entered into the health and wellness consumer space in key markets including Canada, the United States, and Europe through BioSteel sports nutrition, and This Works skin and sleep solutions; and has introduced additional federally-permissible CBD products to the United States through our First & Free and Martha Stewart CBD brands. Canopy Growth has an established partnership with Fortune 500 alcohol leader Constellation Brands. For more information visit www.canopygrowth.com.

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¹ Source: Tableau Data. Category Overview, All Provinces (CY Q3 2020-Q3 2021)