WHITFISH, MT / June 11, 2014 / Health Canada expects the country’s medical cannabis industry to reach $1.3 billion in size by 2024 under the new MMPR, driven by a 10-fold increase in the underlying patient market size to over 400,000 enrolled patients. Of course, these significant growth rates have caught the eye of both public companies and investors interested in capturing a piece of the industry over the next ten years.
Enertopia Corp. (OTC:ENRT)(CNSX: TOP) was the first public company in Canada to announce that it would focus on the production, cultivation, and selling of medical cannabis under Health Canada’s MMPR program. While Tweed Inc. (TSXV: TWD) beat them to the punch as the first public company to secure an MMPR license, investors may want to take a closer look at Enertopia given its unique approach.
In a recent interview, CFN’s Mike Elliott interviewed CEO Mr. Robert McAllister about the status of its MMPR applications, potential production and margins, and where the cannabis industry may be headed moving forward.
CannabisFN Executive Interview | Enertopia Corp. (OTCQB: ENRT) from TDM Financial on Vimeo.
https://vimeo.com/97552881
Diversified Exposure
Entertopia has three separate projects that are in various stages of obtaining an MMPR license from Health Canada to grow and sell medical cannabis.
World of Marihuana Productions Ltd., located in British Columbia, and The Green Canvas Ltd., located in Saskatchewan, are both existing producers under Health Canada’s MMAR program. While both subsidiaries are awaiting Health Canada’s approval under the MMPR program, their experience under the MMAR program should certainly help the applications be approved.
The company also announced a joint venture with Lexaria Corp. (CSE: LXX) on April 10, 2014, located in Ontario, which is awaiting municipal approval for filing its application. Under the terms of the agreement, the company is paying 45% of the project’s costs in order to secure a 51% interest in the facility. The joint venture would add to the country’s geographic diversification.
In an April 17, 2014 update, management indicated that the World of Marihuana project was awaiting a Health Canada site visit over the near-term, while The Green Canvas Ltd. was moving forward with site renovations. The first phase of the build-out for The Green Canvas Ltd. has been increased from 6,400 square feet to 14,000 square feet of space.
Experienced Management
Entertopia differs from many other MMPR applicants in that its management team has extensive experience in both the cannabis industry and capital markets.
President, CEO, and Director Robert McAllister has over 20 years of experience in the capital markets, including 11 years of working as a corporate executive in the metals and energy industries. Similarly, CFO Bal Bhullar has over 18 years of experience in financial/strategic planning, operational/risk management, regulatory compliance reporting, and other areas of finance and accounting.
On the operational side, Director Mathew Chadwick has over 20 years of experience working in the horticulture field, including over 10 years of experience growing medical cannabis under the MMAR. Advisor and Ontario Operations Manager Donald Shaxon has also served as a Corporate Development Manager for U.S.-based MMJ companies and currently holds a MMAR producers license.
Catalysts & Looking Ahead
Enertopia has numerous upcoming catalysts that could unlock long-term value for shareholders over time.
The company differs from many other public companies seeking to become licensed producers under Health Canada’s MMPR, like Creative Edge Nutrition Inc. (OTC: FITX) or Endexx Corp. (OTC: EDXC). With existing MMAR licenses and a qualified management team, the company already has experience within the country’s cannabis industry and remains in the late-stages of securing a MMPR approval.
Looking ahead over the coming quarters, the company has promised to update investors on its progress towards securing a MMPR license, which could catalyze the stock in the near-term. Health Canada’s projection that the market will reach $1.3 billion in size by 2024 also bodes well for the company’s long-term prospects, if it’s successful in obtaining an MMPR license and selling product.
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For More Information, see the following resources:
- Company Website - http://www.enertopia.com/s/Home.asp- Investor Presentation - http://www.enertopia.com/i/pdf/Enertopia_Presentation_May_2014.pdf
- OTC Markets Profile - http://www.otcmarkets.com/stock/ENRT/quote
Disclosure
Except for the historical information presented herein, matters discussed in this release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Emerging Growth LLC may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. For full disclosure please visit: http://www.cannabisfn.com/legal-disclaimer/SOURCE: Emerging Growth LLC