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
CannabisFN Executive Interview | Enertopia Corp. (OTCQB: ENRT) from TDM Financial on Vimeo.
Entertopia has three separate projects that are in various stages of
obtaining an MMPR license from Health Canada to grow and sell medical
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
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
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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SOURCE: Emerging Growth LLC