The Canadian cannabis stocks we have identified have upside potential following Colombia’s decision to allow medical cannabis exports to Canada
SmallCapPower | February 12, 2019: On February 7, 2019, the first authorization from the Colombian government last week to export medical cannabis for scientific purposes to Canada was awarded to a private Colombian Cannabis company called Clever Leaves. Clever Leaves, which is funded by New York based Northern Swan Holdings, obtained an import license from Health Canada on January 19, 2019. With both an import and an export license secured, the Company can start to ship medical cannabis to Canada, for testing, to determine if Colombia-grown cannabis meets Canadian medical standards. If the test results come back positive, then this should open the opportunity for other cannabis companies to export medical cannabis to Canada. Today we have weeded out three Canadian cannabis stocks with operations in Colombia, which could benefit from the new cannabis export laws in that country.
*Share prices as at close February 8, 2019, data obtained from S&P Capital IQ
Khiron Life Sciences Corp. (TSXV:KHRN) – $2.60
Khiron Life Sciences is a Canadian medical cannabis company with operations in Colombia. The Company works with scientific and medical-based research applications for cannabis and currently has an estimated potential market of 6M for patients in Colombia, with an estimated 68M patients throughout Latin America, upon future expansion. On November 27, 2018, the Company announced government approval to commercialize and market its Kuida CBD cosmeceutical product line in Peru. On January 25, 2019, the Company’s share price surged 19% to $2.35 after announcing a binding letter of intent to establish a joint venture with Dixie Brands Inc. (CSE:DIXI.U) to introduce cannabis-infused products in Latin America.
Blueberries Medical Corp. (CSE:BBM) – $0.39
Blueberries Medical is a cannabis company seeking to become a large-scale producer of natural cannabis with operations in Bogotá Savanna, Colombia. With a specialized team and expertise in extraction, medicine, agriculture, and pharmacology, Blueberries Medical has received all required licenses for the cultivation, production, distribution, and export of both THC and CBD. On February 6, the Company commenced trading on the CSE.
PharmaCielo Ltd. (TSXV:PCLO) – $7.80
PharmaCielo is a Canada-based cannabis company that focuses on processing and supplying natural, medicinal cannabis oil extract and related products to large channel distributors. The Company’s wholly-owned principal subsidiary is headquartered at its nursey and propagation center in Rionegro, Colombia. It currently has 139 hectares of total cultivation capacity and expects to complete the construction of its 24,757 sq. ft. GMP2 certified Research and Technology production and processing facility by the end of Q2/19. On January 19, the Company began trading on the TSX Venture Exchange.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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