Ascent Industries (CSE:ASNT) has signed a deal with the Ontario Cannabis Store (OCS) to supply their online store until the province implements an approved framework for private retailers, according to an article by Proactive Investors. After the framework is released, Ascent will also supply the OCS’s private store locations. The agreement supplements the company’s supply agreement with the British Columbia Liquor Distribution Branch and the company is in discussions with other provincial liquor boards and emerging private retailers.
“As legalization approaches in Canada, Ascent is pleased to have been chosen as a supplier to the provincial distribution bodies in two of Canada’s largest markets,” said Ascent CEO Philip Campbell. “We look forward to introducing consumers to our adult-use products and continuing to expand our relationships with these two important purchasers.”
Ascent is a licensed producer under the Access to Cannabis for Medical Purpose Regulations (ACMPR) of Health Canada. The company also provided updates on their various campuses. Agrima Botanicals campus is now harvesting cannabis weekly and has requested a sales license. Ascent will also complete phase one of construction at Agrima Labs by the end of quarter four 2018 and expects retrofitting to be completed at their Agrima Meadows location by the end of October.
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