Fully
Licensed and Operational; #Cannabis Sector Snapshot; (TSX: $VFF.TO) (TSX:
$FIRE.TO) (CSE: $AGRA.C) (TSXV: $NRTH.V)
Point
Roberts, WA and Delta, BC - March 25, 2019 (Investorideas.com Newswire) Investorideas.com, a leading
investor news resource covering hemp and cannabis stocks releases a snapshot
looking at the numerous production facilities that were awaiting Health Canada
approval, that are now fully licensed and operational.
As 2019 will be the
first full calendar year of legal cannabis sales in Canada, the question of
production capacity and cannabis supply is being answered one approval at a
time.
Village Farms International, Inc. (TSX:VFF) (NASDAQ: VFF) announced earlier this month that its 50%-owned joint
venture for large-scale, low-cost, high-quality cannabis production, Pure
Sunfarms received from Health Canada the seventh amendment to the cultivation
license for its 1.1 million square foot greenhouse in Delta, BC.
This amendment
permits Pure Sunfarms to expand its cannabis production area by approximately
206,000 square feet to a total of approximately 1.03 million square feet (16
grow rooms). With this amendment, the
entire growing area at Pure Sunfarms' greenhouse is now licensed for
cultivation. The newly licensed area is expected to be planted by the end of
March 2019.
Village Farms also
announced that Pure Sunfarms has, as planned, commenced re-planting of Quadrant
1 of its greenhouse following the planned suspension of production last autumn
to install the infrastructure for supplemental lighting to maximize yields in
the winter months. The Company expects Quadrant 1 to be fully planted by the
end of April 2019, at which time Pure Sunfarms will be in production on the
entire 1.03 million square feet of growing area at its facility, making it one
of the largest fully operational cannabis production facilities in the world.
The Supreme Cannabis Company, Inc. (TSX: FIRE) (OTCQX: SPRWF) recently announced that its wholly-owned subsidiary, 7ACRES,
has obtained Health Canada approval for six additional flowering rooms totaling
60,000 square feet of additional production space at its facility in
Kincardine, Ontario.
Total flowering room
space at 7ACRES increases from 120,000 sq. ft. to 180,000 sq. ft. and 7ACRES'
annual production capacity estimate increases from approximately 17,500kg to
26,250kg. As noted in previous communications, Supreme Cannabis expects that
with further production efficiencies following the licensing of all 25
flowering rooms, 7ACRES' potential capacity is anticipated to reach
approximately 50,000kg per year by mid-2019.
"Today's
announcement is a major milestone which represents a 50% increase in our
estimated annual production capacity. With 18 of 25 flowering rooms at 7ACRES
now approved by Health Canada, production space at our facility is near the
finish line," said John Fowler, President and Founder of Supreme Cannabis.
"With our multi-award winning 7ACRES brand now available in 8 out of 10
provinces, we look forward to completing construction of the facility so that
cannabis enthusiasts coast-to-coast will be able to enjoy what we believe to be
the highest-quality cannabis grown at scale in the country."
AgraFlora Organics International Inc. (CSE: AGRA) (OTC: PUFXF), a growth oriented and diversified
international cannabis company recently announced it is acquiring an additional 10% of the
shares of Propagation Services Canada Inc. for $14 million payable by common
shares of AgraFlora at a price of $0.68 per share, equivalent to 20,588,235
common shares.
"It is important
for AgraFlora to continue to have a majority stake in the joint venture company
Propagation Services Canada," said Derek Ivany, President and CEO of
AgraFlora. "The Delta Greenhouse Complex will become our marquee facility
with 2.1 million square feet of greenhouse space and 100,000 square feet in
production facilities. Progress on the retrofit continues to be on target and
we expect to submit our licensing application video to Health Canada by the end
of June."
48North Cannabis Corp. (TSXV:NRTH) recently announced that its wholly-owned subsidiary, Good &
Green, a licensed cannabis producer under the Cannabis Act received its Standard Processing License from Health Canada
on March 8, 2019.
This is 48North's
second Processing License from Health Canada; the Company's first Processing
License was granted for its Delshen Therapeutics facility in Kirkland Lake,
Ontario. This additional license solidifies 48North's ability to launch
next-generation cannabis products for retail sale in the fall of 2019.
Pending Health Canada
approval, 48North will be one of the first Licensed Producers in Canada to have
an outdoor cannabis farm, expected to produce over 40,000 KG of dried cannabis,
from over 3.7 million sq. ft. of cultivation space, at a low-cost. 48North
plans on using the majority of this significant production volume for
extracted, value-added products.
Reaching production
capacity has been an essential marker for numerous cannabis companies, many of
which are now reaching that marker as final approvals and construction is
completed. We can expect more announcements like these throughout March, April
and May, as that is the timeframe many companies have aimed to be fully
operational for in preparation for summer cannabis sales.
For investors
following cannabis stocks, Investor Ideas has created a stock directory of publicly
traded CSE, TSX, TSXV, OTC, NASDAQ, NYSE, ASX Marijuana/Hemp Stocks
About Investorideas.com
Investorideas.com
is a recognized news source publishing third party news and press releases plus
we create original financial content. Learn about investing in stocks and sector trends
from Investorideas.com with our news alerts , articles , podcasts and
videos talking about cannabis, crypto,
technology including AI and IoT ,
mining ,sports biotech, water, renewable energy and more . Investorideas.com
original branded content includes the daily Crypto Corner
and Podcast, Play by Play sports and stock news column, Investor Ideas #Potcasts #Cannabis News and Stocks on the Move podcast and column, Cleantech and Climate Change Podcast and the AI Eye Podcast and column covering developments in AI.
Cannabis Social Media
Disclaimer/Disclosure:.
Our site does not make recommendations for purchases or sale of stocks,
services or products. Nothing on our sites should be construed as an offer or
solicitation to buy or sell products or securities. All investment involves
risk and possible loss of investment. This site is currently compensated for
news publication and distribution, social media and marketing, content creation
and more. Contact each company directly regarding content and press release
questions. Disclosure is posted for each compensated news release, content
published /created if required but otherwise the news was not compensated for
and was published for the sole interest of our readers and followers. More
disclaimer info: https://www.investorideas.com/About/Disclaimer.asp. Disclosure: this article featuring The Surpreme Cannabis Company Inc. (TSX;FIRE)
(OTCQX:SPRWF) is a paid for service on Investorideas.com – third party . Learn more about costs and our
services https://www.investorideas.com/News-Upload/
Additional info
regarding BC Residents and global Investors:: https://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations
of each country.
Please read
Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Investor
Ideas does not condone the use of cannabis except where permissible by law. Our
site does not possess, distribute, or sell cannabis products.
Contact Investorideas.com
800-665-0411
No comments:
Post a Comment