More bad news for cannabis producer Canopy Growth Corp (TSX:WEED).
The Smiths Falls, Ontario based company has announced that it is delaying the launch of its cannabis-infused drinks as it takes more time to complete the build-out of its bottling facility for commercial production.
Canopy Growth did not say when it plans to make its various pot-infused beverages available for sale. It previously stated that it would have its drinks on store shelves in early January of this year. The company said in a statement that it does not believe the delay will have a material impact on its revenue for its 2020 financial year, which ends in March.
Canopy further said that it will provide an update on its beverages when it releases third-quarter results on February 14. The company submitted its final documentation for its beverage facility to Health Canada last June and received its licence in November 2019.
The company was set to release 13 different drinks for the launch of its so-called "Cannabis 2.0" earlier this year with various concentrations of tetrahydrocannabinol, the impairing chemical compound derived from the cannabis plant, as well as cannabidiol, under its Tweed, Houseplant and Quatreau brands.
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