The three Canadian marijuana stocks we have weeded out today have recently obtained a sales license from Health Canada
SmallCapPower | October 9, 2018: Today we have identified three Canadian marijuana stocks that have recently received a license to sell cannabis-based products in Canada. This positions these small-cap companies to produce and sell their product just in time for recreational legalization in Canada, scheduled for October 17, 2018. Although there is a long list of Canadian companies involved in the cannabis business, the number of companies with a sales license is much smaller, and so these companies have a significant advantage once recreational consumption becomes legal.
Eve & Co Inc. (TSXV:EVE) – $0.47
Operating through its Natural MedCo Ltd subsidiary, Eve & Co is a premium female-focused brand with a 200,000 sq. ft. facility in southwestern Ontario. The Company provides educational and online support for its customers to destigmatize cannabis use among women. The Company’s brand centers around female empowerment and leadership and is Canada’s first female-founded licensed producer. On September 18, 2018, the Company announced a supply agreement with Newfoundland Labrador Liquor Corporation. During its most recently-reported quarter, Eve & Co said it received amended licenses from Health Canada under the Access to Cannabis for Medical Purposes Regulations for the sale of certain medical cannabis products and the production of bottled cannabis oil.
Golden Leaf Holdings Ltd. (CSE:GLH) – $0.27
Golden Leaf Holdings produces and distributes cannabis oil and flower products, with operations in Canada, Oregon, Nevada, and California. The Company recently acquired California and Nevada assets from Tahoe, in a transaction valued at $52M. The acquisition will further solidify Golden Leaf’s presence in California and is expected to be earnings accretive immediately. On September 24, 2018, Golden Leaf Holdings announced that its subsidiary, Medical Marijuana Group, had received its sales license from Health Canada. The Company forecasts that the license could contribute an incremental US$900,000 in Q3 revenues, as on hand inventory can immediately be shipped out.
Aleafia Health is involved in the production and sale of cannabis products, as well as consultation services to determine the suitability of the Company’s products for treating various chronic conditions. Aleafia operates 22 referral-only medical cannabis clinics across Canada, assisting over 50,000 patients to date. In addition, the Company expects its annual cannabis production capacity to hit 38,000 kg by 2019. On September 4, 2018, Aleafia received a sales license from Health Canada.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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