This Canadian cannabis investment company is growing faster than the crop
Investors continue to be excited about where the cannabis industry is heading in Canada, and potentially also in the USA; not to mention other countries considering cannabis recreational (personal) use legalisation.
In Canada, medicinal cannabis has been legal for over 15 years and personal use has been legal now for around 6 months. On or before October 17 this year Canada Health has said that cannabis edibles will be permitted for legal sale under The Cannabis Act. This will open the industry to a new direction, bringing forth new ideas and products. According to a 2018 Deloitte research report, nearly 60% of Canadians would use cannabis edibles.
Viridium Pacific Group Ltd. (TSXV: VIR) specializes in investing in the Canadian cannabis industry. Viridium is engaged in the production and distribution of cannabis and is positioned as a high quality wholesale supplier of recreational and medical cannabis.
Viridium’s subsidiary Experion Biotechnologies Inc. ships first adult use cannabis products
After appointing Ms. Kamini Hitkari to the position of Chief Financial Officer on March 26 2019, Viridium reported its wholly owned subsidiary Experion Biotechnologies Inc. completed its first shipment of adult-use cannabis to the province of Saskatchewan. Over 8 kilograms was shipped consisting of approximately 3,500 units of 1- and 3.5-gram packages. This signifies the Company’s continued commitment towards distribution across Canada and builds brand recognition in the adult use market. Experion’s retail brand known as Citizen Stash is already offered in British Columbia and has had several re-orders since its original shipment in February 2019.
Viridium’s subsidiary EFX Laboratories Inc. commences sales
In keeping with the theme of being busy and continuing to grow, just one week later, Viridium announced its wholly owned subsidiary EFX Laboratories Inc. (a contract manufacturer of cannabis oil capsules), has commenced medical two-piece capsule sales through its partnership with Broken Coast Cannabis Ltd. Under the agreement EFX will provide commercial manufacturing services with a revenue sharing structure on the medical two-piece capsule containing various THC and CBD concentrations.
Jay Garnett, Viridium’s CEO said: “The realization of a commercial medical pill is a significant milestone for EFX and a step toward our vision to provide the market value added products.”
What is looking to be a very busy year of continued growth Viridium has recently announced the appointment of a dedicated investor relations professional. Ms. Judy-Ann Pottinger will develop and manage Viridium’s corporate communications program to increase awareness of the Company to the investment community and other key influencers interested in the growing and changing cannabis industry.
Viridium CEO Mr. Jay Garnett commented: “With Ms. Pottinger’s support and guidance, we will be able to more effectively connect Viridium’s story to the investment community while allowing our senior management team to focus on building our business.”
Viridium seems to be growing faster than the crop in the field. With 2 new appointments and 2 new product distributions involving medicinal and recreational cannabis Viridium Pacific is moving fast to capture the cannabis opportunity.
Right now there is an open market out there to be explored in many new cannabis products, and it looks like Viridium is one company gaining a first mover advantage to gain market share.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment, and a Graduate Diploma in Financial Planning. He ... <Read more about Matthew Bohlsen>