An outdoor growing license has opened the door to premium organic product and extracts for the upcoming edibles and infused market, says an executive at a Canadian marijuana producer.
Jeannette VanderMarel, co-CEO of 48North Cannabis (TSXV:NRTH), told the Investing News Network (INN) about the company’s recently obtained outdoor growing license for its Good Farm facility in Ontario.
VanderMarel told INN that a higher cost is expected with organic product since it will be promoted as higher quality. She hopes there will be a higher profit margin for the firm thanks to its planned organic offerings.
The critical license for 48North was confirmed by Health Canada in May. Alison Gordon, co-CEO of the company, said in a press release that consumer packaged goods brands that are looking to enter the marijuana market will need a quality, low-cost and organic producer.
VanderMarel was a speaker at the “US Expansion: Executing a Go-To-Market Strategy” panel at the Lift & Co. (TSXV:LIFT,OTCQB:LFCOF) Cannabis Expo in Toronto. During her time on stage, the executive said Canadian firms can tap partnerships with leaders in the US that don’t directly relate to growing the plant.
“We (are partnered) with several US companies to bring well-known brands from the US and take their IP, their technology, their scientists and help them replicate those products in our facility using Canadian cannabis,” she said.
The firm has a conservative estimate that its outdoor production will produce a yield of 40,000 kilograms. From that resulting product, 80 percent will be used for extraction and processing purposes, while the remaining 20 percent will be allocated to provincial distribution as organic dried flower product, according to VanderMarel.
On Monday (June 17), the firm uploaded a video showcasing its outdoor growing execution and announcing the official planting of 250,000 cannabis plants.
For more on what VanderMarel had to say, watch the interview above. You can also click here to see our full Lift & Co. Cannabis Expo playlist on YouTube.
Don’t forget to follow us @INN_Cannabis for real-time updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.