Source: 7ACRES.
  • Canopy Growth is rolling out five new pre-roll products across its 7ACRES and Hiway brands
  • The company launched a suite of new products only last month, followed by a value-accretive Q3 FY2024 earnings report
  • Canopy Growth is a North American cannabis and consumer packaged goods company with a brand portfolio including Doja, 7ACRES, Tweed, Deep Space, Martha Stewart CBD and Storz & Bickel
  • Canopy Growth stock is down by more than 80 per cent year-over-year

Canopy Growth (TSX:WEED) is rolling out five new pre-roll products across its 7ACRES and Hiway brands.

The 7ACRES products include Smooth Burners pre-rolls (2 x 0.7g), which feature a hybrid strain designed for “the smoothest and slowest burn,” according to Thursday’s news release that adds the products are enhanced by a new filter built for optimized airflow. The strain is composed of GMO Zkittlez and Funky Zktlz lineage and offers a potency from 22-28 per cent THC, the compound most commonly used to experience cannabis’ psychoactive effects.

The Hiway products include Hiway Water Hash infused pre-rolls (3 x 0.5g), a high-THC, flavour-forward blend of indica or sativa cultivars evenly rolled with bubble hash, and Hiway Roadies (20 x 0.35g), a bulk pack in sativa or indica coming in at 18-24 per cent THC. Strains in the new Hiway products may change from lot to lot to showcase the variety of flower on offer.

The new pre-roll products, available now through provincial online stores and select retail locations, continue Canopy Growth’s momentous start to the year, which has already included a January launch from Tweed, 7ACRES and Spectrum Therapeutics, a solid Q3 FY2024 earnings report marked by global growth, a significant improvement in free cash flow and the expectation of positive adjusted EBITDA by the end of FY2024, and a US$35 million institutional capital raise to further the company’s ongoing restructuring.

Management commentary

“Forging ahead with our commitment to innovation, we’re excited to offer new pre-roll offerings that meet consumers across a range of occasions and price points,” Dave Paterson, president of Canadian operations at Canopy Growth, said in a statement. “With convenience and enjoyment in mind, our new 7ACRES Smooth Burners offer a high-quality pre-roll with a unique filter design enabling a smooth and slow session, while our new Hiway Water Hash Infused pre-rolls provide consumers a premium experience in a value package.”

About Canopy Growth

Canopy Growth is a North American cannabis and consumer packaged goods company. Its brands include Doja, 7ACRES, Tweed, Deep Space, Martha Stewart CBD and Storz & Bickel.

Canopy Growth stock (TSX:WEED) is down by 1.50 per cent, trading at C$4.58 per share as of 9:37 am ET. The stock is down by more than 80 per cent year-over-year.

The company has positioned itself to capitalize on U.S. cannabis legalization through its rights to Acreage Holdings, a vertically integrated multi-state cannabis operator, Wana Brands, a cannabis edibles brand, and Jetty Extracts, a producer of cannabis extracts and a pioneer of clean vape technology.

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