Canopy Growth (NYSE: CGC), and OG DNA Genetics, just signed a new agreement which extends and expands their current partnership. The two companies will now be partnered together for the rest of this year and through 2024.
An expanded presence to a location that is yet to be announced by both companies was teased along with the agreement announcement. Canopy, with DNA Genetics, will work together to bring the genetics that DNA has to offer, further than Canada and Jamaica, to a “soon-to-be-disclosed” European market.
Mark Zekulin, President and co-CEO of Canopy Growth, stated: "Teaming up with DNA has proven to be a very strong and mutually beneficial partnership. Renewing our partnership for the next five years was a no-brainer for us and we look forward to introducing their high-quality DNA products to consumers around the world."
DNA Genetics has received over 200 global cannabis awards for their phenotyping process over the past fifteen years. The company has been considered as the standard in genetic breeding of high-class cannabis strains that are genetically diverse. Product lines from DNA Genetics, like DNA Certified™, are distributed through Canopy Growth after the company cultivates the DNA genetics with careful consideration and supervision by both parties.
About OG DNA Genetics:
Perhaps one of the most well known and regarded cannabis brands in the world was established over thirteen years ago in Amsterdam. At the time it was the only market that provided a place for legal and commercial cannabis activity. During this period DNA Genetics were able to develop their brand as well as influence the global market, developing high quality seeds directly from California to the then only legal market in the entire world. After having spent more than a decade building the brand in the European marketplace DNA has simultaneously been developing strategic partnerships throughout the world, directly entering into each legal market as the laws in each territory changed to provide for legal cannabis enterprises. DNA Genetics intentions have not changed from the moment the company was created and will continue to provide and supply the highest quality cannabis seeds for the medicinal and recreational markets.
About Canopy Growth:
In April 2014, Canopy Growth became the first cannabis company in North America to be publicly traded. We followed that with being the first to complete a “bought deal”, to diversify our platform to include both greenhouse and indoor growing, to acquire a major competitor and to be listed on the Toronto Stock Exchange. Continuing those firsts, we remain the only cannabis company to be a member of a major global stock market index, in this case the S&P/TSX Composite index.
Away from the markets, Tweed, a Canopy Growth subsidiary, was the first to introduce the now standard concept of Compassionate Pricing to make medical cannabis affordable for patients, and we remain proud to continue supporting a patient’s right to grow at home by selling the widest variety of seeds in the legal Canadian sector. Our commitment to education has and always will be unwavering, as one of the first Canadian cannabis companies to offer Mainpro-M1 accredited continuing medical education programs to Canadian physicians, and to launch in-person assistance through our Tweed Main Street locations. Tweed was also the first Canadian producer to be approved to export dried cannabis to Germany, and our wholly-owned German subsidiary continues to offer an ever-increasing variety of products for sale through German pharmacies. Canopy Growth was the first to strike a strategic relationship with a Fortune 500 beverage alcohol supplier to bring exciting new products to market, and to enter into ground-breaking supply agreements to sell adult-use cannabis to provincial governments across the country. Most recently, in May 2018, it was the first cannabis-producing company to be listed on the New York Stock Exchange.
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