Whitefish, MT / September 24, 2014 / Enertopia Corp., (OTC: ENRT) an aspiring Licensed Producer of medical marijuana under Canada's Marihuana for Medical Purposes Regulations ("MMPR") program, recently announced progress across two of its projects and new efforts to raise awareness among both physicians and consumers within an industry that Health Canada expects to reach C$1.3 billion by 2024.
In this article, we'll take a look at these milestones and where the company is headed over the coming quarters as its plans unfold.
MMPR Project Updates
On September 17, 2014, the company announced that its Burlington joint venture with Lexaria Corp. (OTC: LXRP) submitted an application to become a Licensed Producer and is in correspondence with Health Canada. The JV also requested a ready-to-build letter from Health Canada once the application has been accepted in order to expedite the process and become a licensed producer more quickly.
The Burlington Joint Venture has applied to produce up to 10,000 kilograms of medical marijuana per year, with Enertopia holding a 51% interest and Lexaria holding a 49% interest. Through active involvement in the community, the company has received very strong support, both by the citizens and by the media. The local police have also been instrumental in the process by providing insights and proactive measures that can be taken ahead of time to ensure compliance.
On September 18, 2014, the company announced that it provided notice to its World of Marihuana project alleging default under the terms of the agreement. The partner responded by providing notice in response disputing their default and Enertopia will provide further information when available.
With its experience under Canada's prior Medical Marihuana Access Regulations ("MMAR") program Joint Venture partners, the company is well positioned to take advantage of the new regulations. The rise of companies like Tweed Inc. (OTC:TWMJF)(TSX-V: TWD) have demonstrated the strength of investor appetite, while Enertopia's partners experience under the MMAR program helps to set it apart among other MMPR applicants pursuing licenses.
Awareness Program
Enertopia and Lexaria announced on September 18, 2014 that Maureen McGrath - host of the popular CKNW Sunday Night Sex Show and a registered nurse - will be leading a National Medical Marihuana Awareness and Outreach Strategy. With a background in business development, advocacy and clinical research, she will be instrumental in furthering the cause among a widespread audience.
Currently, Ms. McGrath serves as the Chair of the BC Chapter of Canadian Nurse Continence Advisors and serves on the Board of the College of Midwives of British Columbia and on the Advisory Board for the Be More Than a Bystander Program with EVABC and the BC Lions. She is also a long-term Mentor with Minerva's Women Helping Women Work Program and other programs.
Under the terms of the agreement, Ms. McGrath will be educating physicians, pharmacists, health care practitioners, and the public on the benefits and responsible use of medical marijuana for patients in need. The company intends for her to reach out via town hall style meetings as well as through the media, and to build a network of people interested in the medical marijuana field for advocacy.
Looking Ahead
Enertopia continues to make progress with its joint venture projects, while working to raise awareness of medical marijuana among both physicians and consumers. With its Burlington Joint Venture moving through the Health Canada licensing process, investors may want to watch the stock for upcoming catalyst over the coming quarters as it works through the detailed checklist.
Investors in the medical marijuana industry, including companies like Hemp Inc (OTC: HEMP) or Medical Marijuana Inc. (OTC: MJNA), may want to take a closer look at the company given these developments. With its experience under the MMAR program, the company's projects may have a competitive advantage over others pursuing licenses of their own.
More Information:
Company Website - www.enertopia.com
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SOURCE: Emerging Growth LLC