Canopy Growth Unit Granted New Extraction License

Canopy Growth (NYSE: CGC) has secured official permission for one of its business units to effectively start making product. The company announced today that its KeyLeaf subsidiary located in Saskatoon, Saskatchewan, has been granted an extraction license by Health Canada, that country's regulator of the cannabis industry.

The license allows KeyLeaf to develop and produce cannabis extracts that can subsequently be used as ingredients in derivative products like infused beverages and cosmetics. This is the third such permission won by Canopy Growth business units.

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Source Fool.com