December 8, 2017 / 4:25 PM / a year ago

Cannabis maker Canopy Growth expands to Newfoundland and Labrador

(Reuters) - Canadian cannabis maker Canopy Growth Corp (WEED.TO) said on Friday it would supply cannabis to Newfoundland and Labrador, the seventh province where the company will operate.

Canopy Growth said it will supply 8,000 kilograms (Kg) of cannabis annually in the first two years in the province, which is expected to legalize cannabis in July.

The company will also establish a production facility capable of producing 12,000 kg per year and bring 145 jobs to Canada’s most easterly province.

Canopy’s unit Tweed Inc will also be eligible to apply to operate four new retail locations in the province.

The company’s shares were up 4.3 percent at C$19.03.

Constellation Brands Inc (STZ.N) in October took a 10 percent stake in Canopy Growth to become the first major wine, beer and spirits producer to invest in legal cannabis.

Reporting by John Benny in Bengaluru; Editing by Sriraj Kalluvila

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