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Brand refresh addresses shifting consumer preferences to deliver an innovative product portfolio with a
fresh look and feel
SMITHS FALLS, ON, Jan. 27, 2022 /CNW/ - Canopy Growth Corporation ("Canopy Growth" or "the Company") (TSX: WEED) (NASDAQ: CGC), a world-leading diversified cannabis, hemp, and cannabis device company, unveils the next chapter of the Tweed brand with the launch of new products, formats, and a refresh of the brand's look and feel. Today, the brand is introducing a new era of Tweed, inspiring Canadians to start their year off in whatever way feels good for them.
"Since we first introduced Tweed to Canadians in 2014, it has been recognized as an iconic symbol of Canadian cannabis legalization, garnering the highest brand awareness amongst Canadian cannabis consumers 1. The brand is proud to deliver a new look and feel and a revitalized product lineup with new product formats," said Kelly Olsen, Vice President, Global Flower Business. "With the launch of 'Whatever Feels Good,' we're committed to maintaining our position as an approachable brand that delights Canadians through our innovative new products to deliver joy in everyday moments."
Tweed has transformed the brand's flower lineup with the introduction of higher THC strains and improved grow techniques, including hang drying all flower to produce higher quality bud with increased moisture. Newly launched Tweed flower is now available in new packaging that offers a trifecta of benefits, including: a heat-sealed bag to preserve freshness; 90 per cent less material by weight than the original tin packaging; and new colour profiles by strain type, making it easier for consumers to find what they're looking for.
The Tweed brand evolution includes the introduction of three new flower strains:
Chemdawg, a proprietary sativa strain derived from a series of unique phenotypes of Thai and Nepali origin, known for its distinct, diesel-like aroma;
Powdered Donuts, a unique indica strain derived from dessert strains Jet Fuel Gelato and Orange Cookies, with orange hues and dense trichome coverage;
GG#4, a beloved hybrid strain crossed from three legendary genetics that is known for its earthy, woody and citrusy notes.
These strains join Tweed's current roster of sought-after varietals – Green Cush, Hindu Kush and Skunk Haze - and come in a range of product sizes, including 3.5 gram and 28 gram whole flower, and in Tweed Quickies, 0.35 gram pre-roll joints in packs of ten.
Innovating in the edible category, Tweed is introducing the XPRESS gummy, the brand's first-ever 2mg THC-infused gummy offering. Available in Berry Citrus Blast and Tropical Rush, Tweed XPRESS gummies contain 5 gummies per pack.
As beverages fuel growth in the ready-to-enjoy product category, Tweed continues to be a leader in the category while bringing new innovation to market. The addition of the new Tweed Sparkling Water offers consumers a citrus-forward, 2.5mg THC- infused ready-to-drink product available in Grapefruit, Lemon, and Lime flavours. This builds on the existing lineup of multiple dosage levels for different consumers and occasions – with 2mg THC, 2.5mg THC and 5mg THC Iced Teas and Soda ready-to-drink formats.
The new Tweed flower, beverage and edible offerings are available for purchase nationally 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.
Notice Regarding Forward-Looking Information
This press release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable U.S. and Canadian securities laws (collectively, "forward-looking statements"), which involve certain known and unknown risks and uncertainties. Forward-looking statements predict or describe our future operations, business plans, business and investment strategies and the performance of our investments. These forward-looking statements are generally identified by their use of such terms and phrases as "intend," "goal," "strategy," "estimate," "expect," "project," "projections," "forecasts," "plans," "seeks," "anticipates," "potential," "proposed," "will," "should," "could," "would," "may," "likely," "designed to," "foreseeable future," "believe," "scheduled" and other similar expressions. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive risks, financial results, results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. A discussion of some of the material factors applicable to Canopy Growth Corporation ("Canopy") can be found under the section entitled "Risk Factors" in Canopy's Annual Report on Form 10-K for the year ended March 31, 2021, filed with the Securities and Exchange Commission and with applicable Canadian securities regulators, as such factors may be further updated from time to time in its periodic filings with the Securities and Exchange Commission and with applicable Canadian securities regulators, which can be accessed at www.sec.gov/edgar and www.sedar.com, respectively. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in the filings. Any forward-looking statement included in this press release is made as of the date of this press release and, except as required by law, Canopy disclaims any obligation to update or revise any forward- looking statement. Readers are cautioned not to put undue reliance on any forward-looking statement. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
1. Source: Brightfield Brand Health Canada (W3 2021)
SOURCE Canopy Growth Corporation
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