A Vertically Integrated Cannabis Company in the Making. Leveraging Quebec’s Market.
Cannara Biotech Inc. (CSE:LOVE,FWB:8CB,OTCQB:LOVFF) is building a vertically-integrated cannabis company focused on cultivating and developing cannabis-infused products at its 625,000-square-foot indoor, multi-purpose cultivation facility – one of the largest in Canada and largest to date in Quebec. Once operational, the facility is expected to contain 500,000 square feet of production space, 100,000 square feet of processing space and is expected to be capable of producing over 100,000 kilograms of cannabis annually.
Through Cannara’s collaborative corridor initiative, the company intends to lease space at the facility to product manufacturers to produce cannabis-infused products and expedite them to the market. Cannara is currently in discussions with partners to produce edibles, pet-products, cosmetics, beverages and other products within the facility when the regulations relating to edibles and beverages come into effect in Canada in the near term.
In addition to their facility in Quebec, Cannara has entered the US hemp and cannabidiol (CBD) market through the e-commerce platform, shopCBD.com, which showcases hemp and CBD manufacturers throughout the US. The site plans to offer tinctures, oils, capsules, body care, vape cartridges and pet-related products to US consumers. shopCBD.com recently closed $8.8 million in financing, showing the interest in the growing hemp and CBD market in the US.
To date, Cannara has developed seven cannabis brands that target cannabis consumers in the recreational, cosmeceutical, edible and beverage sectors. To this aim, the company has signed an LOI with a leading Quebec microbrewery to develop cannabinoid-infused beverages. Their product lines are expected to include flower, oils, vapes, topicals, tinctures, creams, gummies and confectionaries, among others. Cannara has also developed an intellectual property (IP) portfolio that includes 19 filed patents and 40 granted domain names and trademarks.
Cannara’s Company Highlights
- Canadian cannabis sales expected to reach $7.17 billion in 2019.
- Quebec’s recreational cannabis market expected to generate between $420 million and $1 billion in sales in 2019.
- Quebec has the lowest cost per gram and electricity rates in Canada.
- 625,000-square-foot indoor, multi-purpose cultivation facility under construction in Farnham, Quebec.