Business

Canopy Growth delaying launch of cannabis-infused drinks

Canopy Growth Corp. is delaying the launch of its cannabis-infused drinks. The company says work to scale up to commercial production is not complete and it is delaying the launch date while it completes the final steps.

Company says work to scale up to commercial production is not complete

Staff work in a marijuana grow room at Canopy Growths Tweed facility in Smiths Falls, Ont., on Thursday, Aug. 23, 2018. Canopy Growth Corp. has named a veteran Constellation Brands executive as its new chief executive. (Sean Kilpatrick/The Canadian Press)

Canopy Growth Corp. is delaying the launch of its cannabis-infused drinks.

The company says work to scale up to commercial production is not complete and it is delaying the launch date while it completes the final steps.

Canopy submitted its final documentation for its beverage facility to Health Canada last June and received its license in late November.

The company had expected to have its beverage products on store shelves in early January. It did not say when it now plans to launch its beverage products.

Canopy says it does not believe the delay will have a material impact on its revenue for its 2020 financial year.

It says it plans to provide an update when it releases its third-quarter results.

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