Niche Cannabis Extraction in British Columbia
Osoyoos Cannabis Inc. (CSE:OSO) intends to process raw cannabis to produce cannabis extracts for Canada’s medicinal and recreational cannabis markets. The company will generate revenue through third-party contract and toll processing, wholesaling of oils and distillates, white-label solutions and through selling Osoyoos Cannabis-branded products.
The company has also re-submitted its processing license application to Health Canada through the Indigenous Navigator program, which the Company believes will help expedite the licensing process.
Osoyoos Cannabis has secured a lease with the Osoyoos Indian Band in Oliver, British Columbia (BC) for a cannabis extraction facility, which will be built out in two phases. Phase 1 is currently underway, with the capacity to process up to 50,000 kilograms of dried flower and produce 4,900 kilograms of cannabis oil annually. Once the facility is fully operational, it will be able to process up to 100,000 kilograms of dried flower and produce approximately 9,800 kilograms of cannabis oil annually.
The company is also in discussions with the Osoyoos Indian Band to lease 100+ acres of land adjacent to the extraction facility for an outdoor cultivation site. The Okanagan has a hot, dry climate, which makes it an ideal location for outdoor cannabis cultivation.
Osoyoos Cannabis is committed to fostering their relationship with the Osoyoos Indian Band and will be looking to the community for labor resources when applicable.
The company is led by a strong management team and board of directors who have had numerous years of success in the cannabis and financial industries. Osoyoos Cannabis’ CEO Gerald Goldberg is a Certified Public Accountant, with over 30 years of accounting and public company auditing experience, and was interim-CEO for a licensed cannabis producer and patient aggregator. Joining him as head of quality assurance is Dr. Shane Lu, who has over 10 years of extraction, quality assurance and regulatory affairs in the health sector. Notably, former Premier and Treasurer on Ontario Ernie Eves, investment banking professional John McMahon, pharmaceutical marketing and sales professional Michael Ash and nationally-recognized cannabis advocate Sara Lee Irwin sit on the board and provide their insights into the cannabis regulatory environment and pharmaceutical applications.
- CBD extracts market expected to reach $2.1 billion by 2020
- Four-pronged revenue generation model
- Re-submitted processing license to Health Canada through the Indigenous Navigator program, expediting the application process
- In association with the Osoyoos Indian Band, a well-regarded and entrepreneurial band
- Annual production of approximately 9,800 kilograms of cannabis oil once fully operational
- Led by a strong and experienced management team and board of directors