Pharmacan Cap Corp NPV (OTCMKTS:PRMCF) has recently released its first operational update relating to its licensed producers (LPs) portfolio and ACMPR applicants since having an all-new executive management and consolidating ownership in The Peace Naturals Project, Inc. Along with this, the company has also released a summary of its third quarter results and highlights.
“While the trailing quarterly results reflect just the first 24 days of our consolidated ownership of Peace Naturals, the new Cronos team has been working tirelessly towards optimizing our operating companies, streamlining our financial investments, re-branding our corporate profile and establishing international distribution channels,” boasted Mike Gorenstein, Pharmacan Cap CEO.
Accordingly, the company has renewed its ACMPR production and sales license for 2,500 kg annually and has finished the installation of commercial power infrastructure. Moreover, the review of its retail pricing has resulted to a 37% surge in the average price per gram.
Pharmacan Cap is also pleased to announce the successful formation of new patient enrollment platforms. Consequently, the average new patient enrollment daily is now at 10.
As for the In the Zone Produce (ITZ), Pharmacan Cap has reiterated the successful purchase of an adjacent 17-acre property; harvest and test of various production batches at its renovated plant; Health Canada inspection as part of the application for a sales license; and ongoing expansion of ITZ facilities.
An Important Canadian Cannabis Industry Player
Pharmacan Cap is one of the leading players in Canada’s domestic cannabis industry along with the likes of Marapharm Ventures COM NPV (OTCMKTS:MRPHF), which has recently purchased the remaining 25% equity in EcoNevada, LLC. As a result, EcoNevada is now a wholly-owned subsidiary of Marapharm Ventures, which is constantly driving Canadian marijuana industry with its dedicated expansion prospects locally and internationally.
Like Marapharm Ventures, Pharmacan Cap is committed to its efforts to ramp up its production capacity and expand its presence not just in Canada but in other countries as well. Initiatives of these big players have a huge impact in the cannabis industry that can either make it or break it.
On Tuesday, Pharmacan Cap has closed at $1.20 while Marapharm Ventures has closed at $1.32.