Medical marijuana group Tweed, a subsidiary of Canopy Growth Corporation (CVE:CGC), has had its licence to produce and sell marijuana renewed.
The licence is for 14 months to January 19, 2017 and is from Health Canada's Marihuana for Medical Purposes Regulations (MMPR).
It allows Tweed to produce and sell up to 3,500 kg of dried marijuana and a supplemental license allows it to produce fresh marijuana and/or cannabis oil, over the same period.
"This is an indication that Health Canada has confidence in Tweed's ability to continue to meet the rigorous production, product quality, and security requirements of the regulatory regime," said Bruce Linton, chairman and chief executive of Canopy Growth.
"Producing cannabis of this level of quality on a large scale, ensuring it is delivered strictly to the designated registered patient, and ensuring the customer care experience is consistently exceptional, requires a high degree of expertise across multiple functional areas. Tweed continues to prove that we are unsurpassed in these capabilities."
"We now look forward, subject to regulatory approval, to achieving our next key license milestones, including full licensing of Tweed Farms' 350,000 square foot greenhouse, and a license to sell cannabis oils," added Linton.