Canopy Growth Corporation has been granted a License by New York State to process and produce hemp. Canopy Growth will establish within the Hemp Industrial Park large-scale production capabilities focused on hemp extraction and product manufacturing within the United States. Depending on Board approval of a specific site, Canopy Growth intends to invest between $100 million and $150 million in its New York operations, capable of producing tons of hemp extract on an annual basis. The project is another example of the strategic advantage Canopy Growth has earned with the recently-closed $4 billion strategic investment made by Constellation Brands. Based on its expertise in hemp-derived cannabinoid extraction and processing, Canopy Growth has been granted a licence by New York State to process hemp for various applications.