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Business - Cannabis

Two New Canadian Cannabis Producers to Debut on the Public Markets This Week

  • On Friday, Health Canada added 4 cultivation licenses, bringing the total licenses awarded to date to 109. Two are expected to begin trading this week, while still in developmental stages– 48 North, and James E. Wagner Cultivation.
  • Although not yet approved for selling,  48 North is expected to add up to 40 million grams to its annual production capacity upon completion of proposed expansion project.
  • JWC, is aiming to cultivate 28.5 million grams in projected revenue at the company’s second 345 sq.ft. facility. As of now. JWC is still to begin trading on the TSX Venture on June 11th. 

On Friday, Health Canada added 4 cultivation licenses, bringing the total licenses awarded to date to 109. The agency added BC-based Good Buds Company, which was the first licensed producer (LP) to receive a cultivation and production license simultaneously, Quebec-based Medican Organic, Ontario-based Toronto Herbal Remedies and a second site license for WeedMD (TSXV: WMD) (OTC: WDDMF), which is in the process of merging with Hiku Brands (CSE: HIKU) (OTC: DJACF), a 14-acre greenhouse in Ontario.

Many of the 109 LP licenses issued to date are now held by publicly-traded companies, with several holding multiple licenses, including Canopy Growth (10), Aurora Cannabis (5), Maricann (3), Emerald Health (2.5), Aphria (2), Cronos Group (2), MedReleaf (2), Newstrike (2), RedeCan Pharm (2), Tilray (2), WeedMD (2), Zenabis (2) and Invictus MD Strategies (1.5).

As of June 8th, there were 33 publicly-traded LPs, all of which are included in the Canadian Cannabis LP Index, which is down 10% so far in 2018 but has increased by over 803% since its inception on 12/31/15. Several LPs are in the process of going public, including two expected to begin trading this week, 48North

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