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Marijuana producer Canopy Growth granted hemp licence in New York

January 14, 2019 9:16 PM
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Cannabis products with higher levels of tetrahydrocannabinol, or THC, remain listed as restricted drugs by the U.S. federal government.

Canopy says it will source hemp exclusively from U.S. farmers for its U.S. operations once up and running.

Canopy Growth says it’s in the process of evaluating a number of sites that will become one of its first extraction and processing facilities outside Canada and it plans to announce the specific location within 100 days.

The company — which received a $5-billion investment in August from alcoholic beverage maker Constellation Brands of Victor, N.Y. — said it was evaluating sites in the Southern Tier region of New York state near Pennsylvania.

U.S. Senator Charles (Chuck) Schumer, leader of the minority Democrats, said in Canopy’s statement that he expects a “major shot in the arm” for the Southern Tier economy and for farmers.


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