Canopy Growth Corporation Pronounces An Offtake Agreement With Pharmhouse

Canopy Growth Corporation has moved into an offtake agreement with PharmHouse Inc. According to the agreement, PharmHouse will serve Canopy Growth Corporation with top quality cannabis flower. It will obtain it from its Leamington greenhouse facility and will be districting it over the next three years. The company says that it will only dwell on the additional 20 per cent of the flowering space available in the location.

PharmHouse objectives

PharmHouse has 1.3 million square feet of greenhouse grow space and is considering licensing out its facility. At the moment, it works with Canopy Rivers to prepare the facility for the eventual licensing. They set out to do this from October 2018 to date.

PharmHouse intends to leverage on Canopy Growth’s genetics. The plan is to later sell the flower under Canopy Growth’s diverse brands and banners. The agreement also outlines that PharmHouse will over 18 months produce GMP-certified, high quality cannabis flower.The goods produced will conform to an internationally recognized system. This will be about ensuring the goods are of the highest consumer health and safety standards.

Future business plans

The company is already making preparations to export the goods to most of its international divisions. Another part of the agreement provides that 30 per cent of PharmHouse’s total flowering space will be allocated to Canopy Growth.

Chairman & Co-CEO of Canopy Growth Corporation Bruce Linton opined, “We have witnessed Canopy Rivers and its joint venture partner pour their hard work into the PharmHouse facility in Leamington and couldn’t be more satisfied with how it has turned out”.

The official states that they will expect PharmHouse to allocate them the high flower quality. He adds that the ecosystem model from Canopy Rivers won’t disappoint at all. He sees the new agreement with PharmHouse as a real showcase of how well they intend to manage their wide range of assets.

Another official lays emphasis on the need to uphold production within the ecosystem. The plan is enable Canopy Growth leverage on low cost of production from the PharmHouse facility. Canopy Growth also intends to leverage on the anticipated throughput. There are high hopes that the company will be receiving high-quality dried flower.


Canadian Pot Producers Are Now Eyeing The International Markets Citing That There Is Potential Growth

Canada’s cannabis market across the world seems to be catching up and expanding pretty fast. It is a scenario that is being embraced by many local pot producers as they look up for opportunities of promoting their expertise abroad.

Canada is one of the countries that are known for having strict Health quality controls. According to Analysts, the controls are so firm such at that at some point exporting plants grown in Canada to other jurisdictions becomes very unaffordable. However, Canadian producers are hoping to use their home expertise in setting up new corporate entities in other countries.

Compliance is of the essence, and many farmers have learned a lot of lessons along the way. As indicated by Daniel Pearlstein, a life sciences analyst with M Partners, the producers have had to jump through hoops and loops to outdo the compliance barriers.

Meanwhile, the results if a bid for one of five medical marijuana licenses in New York State is yet to be announced. Speculations state that the announcement is likely to come end July. MedReleaf is one of the Companies that is anticipating winning the bid. Having partnered with Compassionate Care Center of New York, a U.S company, MedReleaf is contemplating to explore Europe and South America regions, which seems to have potential growth.

The Companies chief executive of Toronto-based MedReleaf Corp, Neil Closner says that there is a lot to learn from the regulations. In fact, there is a lot to scale up on owing to the expertise the Company has gained about exporting Canadian knowledge to other areas of the world.

Another competitor for overseas markets is Tweed Marijuana Inc. (CVE: TWD), the Smiths Falls. The Company is in the process of acquiring Bedrocan Cannabis Corp. Hence, it is putting its best foot forward in beefing up its domestic operations.

Bruce Linton, who is the Chief executive, says that the company is anticipating to becoming the dominant supplier with a cash-flow positive status. So far, unlike what would be expected, the tough rules in Canada have highly benefited the Canadian pot growers in that they have been pushed to produce high-quality products.

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