Company to open 10 retail stores across Alberta under the Tokyo Smoke and Tweed banners, marking its first retail cannabis presence in the province

SMITH FALLS, ON, Aug. 28, 2020 /CNW Telbec/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (NYSE: CGC) is pleased to announce the Company will be opening 10 brick-and-mortar retail cannabis locations across Alberta under its award-winning Tweed and Tokyo Smoke banners. This announcement marks the Company's latest commitment to national retail expansion and added consumer engagement opportunities across the country.

The following retail locations are set to open their doors over the next week:

Tokyo Smoke:

• Unit 100, 4310 MacLeod Trail SW, Calgary, AB
• 418 16th Avenue NW, Calgary, AB
• Unit 101, 1022 17th Avenue SW Calgary, AB
• 3011 14th Street SW, Calgary, AB
• Unit 204, 131 Century Crossing, Spruce Grove, AB
• Unit 104, 1020 9 Ave SE, Calgary, AB

Tweed:

• 8650 112 Ave NW, Calgary, AB
• Unit 122, 425 Aviation Road NE, Calgary, AB
• Unit 130, 333-6th Street South, Lethbridge, AB
• 10431 82 Avenue, T6E 2A1, Edmonton, AB

"With 10 new stores set to open and additional locations in the pipeline, we are thrilled to announce this milestone and excited to bring the Tokyo Smoke and Tweed guest experiences to Alberta for the first time," said Grant Caton, General Manager for Canada at Canopy Growth. "We've seen the value brick-and-mortar retail brings to our consumers - welcoming new guests to learn about cannabis and building relationships in new communities - and we're excited to share our knowledge and industry leadership across the region."

Both Tokyo Smoke and Tweed retail locations offer guests an industry-leading retail experience. Tokyo Smoke stores provide an elevated shopping experience with carefully curated accessories and cannabis products grouped according to Tokyo Smoke's signature Intent System to help guests select a varietal that's right for their intended experience. The Tweed retail experience is warm and approachable, with friendly and knowledgeable Tweedtenders available to provide cannabis education in a welcoming environment.

Our retail stores are also dedicated to developing community outreach and programming that provides education and support to every neighbourhood we operate in. We are also proud to be creating over 100 jobs in the Alberta market, while ensuring a safe environment for our teams to provide their communities with convenient access to quality legal, recreational cannabis.

Canopy's retail expansion into Alberta will bring the number of Tokyo Smoke and Tweed retail cannabis stores in Western Canada to a total of 29, adding to existing locations in Manitoba and Saskatchewan. It will also increase Canopy's retail banners across Canada to a total of 50, with more planned throughout the 2020 calendar year.

Here's to Future (Alberta) Growth.

About Canopy Growth Corporation
Canopy Growth (TSX:WEED, NYSE:CGC) is a world-leading diversified cannabis, hemp and cannabis device company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms, as well as medical devices through Canopy Growth's subsidiary, Storz & Bickel GMbH & Co. KG. From product and process innovation to market execution, Canopy Growth is driven by a passion for leadership and a commitment to building a world-class cannabis company one product, site and country at a time.

Canopy Growth's medical division, Spectrum Therapeutics is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public's understanding of cannabis, and has devoted millions of dollars toward cutting edge, commercializable research and IP development. Spectrum Therapeutics sells a range of full-spectrum products using its colour-coded classification Spectrum system as well as single cannabinoid Dronabinol under the brand Bionorica Ethics.

Canopy Growth operates retail stores across Canada under its award-winning Tweed and Tokyo Smoke banners. Tweed is a globally recognized cannabis brand which has built a large and loyal following by focusing on quality products and meaningful customer relationships.

From our historic public listing on the Toronto Stock Exchange and New York Stock Exchange to our international expansion, pride in advancing shareholder value through leadership is engrained in all we do at Canopy Growth. Canopy Growth has established partnerships with leading sector names including cannabis icons Snoop Dogg and Seth Rogen, breeding legends DNA Genetics and Green House Seeds, as well as lifestyle guru Martha Stewart and Fortune 500 alcohol leader Constellation Brands, to name but a few. For more information visit www.canopygrowth.com

Notice Regarding Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canopy Growth or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. Examples of such statements include statements with respect to future product format offerings. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including the Company's ability to satisfy provincial sales contracts or provinces purchasing all cannabis allocated to them, and such risks contained in the Company's annual information form dated June 25, 2019 and filed with Canadian securities regulators available on the Company's issuer profile on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information or forward-looking statements in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information and forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information or forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities laws.

SOURCE Canopy Growth Corporation

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