Strong start to the year for cannabis investor Viridium Pacific Group
It’s looking like 2019 is continuing to be the year of acquisitions with the latest news coming from Viridium Pacific Group.
Viridium Pacific Group Ltd. (TSXV: VIR) is a Canadian public capital company specializing in investing in the Canadian cannabis industry. Viridium is the parent company of several wholly-owned subsidiaries shown below:
- Experion Biotechnologies Ltd. – A producer of cannabis
- Fish Trap Ventures – Property development
- Stave Lake Services Ltd. – Resource management
- EFX Laboratories Inc. – Medical cannabis applications and treatments
Experion Biotechnologies enters a supply agreement with BCLDB
Through Experion Biotechnologies Inc., Viridium is engaging in the production and distribution of cannabis, and is positioned as a high quality wholesale supplier of recreational and medical cannabis. Experion is a registered Health Canada Licensed Producer and is authorized to sell dried flower and starting materials out of their state-of-the-art facility in Mission, British Columbia.
Coinciding with Valentine’s Day on February 14, 2019, it was announced by Experion Biotechnologies that it had signed a supply agreement with the British Columbia Liquor Distribution Branch (BCLDB). Operating under the Citizen Stash brand, Experion will supply a variety of Adult-Use cannabis products throughout British Columbia.
Jay Garnett, Viridium’s President and Chief Executive Officer commented: “We are excited to supply our home province with quality Adult-Use flower as we actively expand our distribution across Canada and develop our “added value” product lines to further complement the Adult-Use market.”
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Viridium acquires EFX Laboratories Inc.
On February 11, 2019 Viridium announced its newest acquisition of EFX Laboratories Inc. (EFX). EFX is a Canadian biotech company focused on medical cannabis applications and treatments. They have developed several proprietary formulations for pain control, as well as a suite of value-added wellness products. The key products of EFX range from creams, tinctures, sprays and oils.
Viridium, along with EFX, is now vertically integrated from seed to value added product, with all of the licences required to execute its business strategy. They believe the amalgamation will position it for a strong go forward strategy to create a long term sustainable growth company.
CEO Jay Garnett stated: “The acquisition of EFX deepens our focus in the medical cannabis industry, with the addition of EFX assets and its key people, we further our vision of supplying industry leading value added products formulated from our own cultivated cannabis.”
In the rapidly growing cannabis industry early movers such as Viridium are quickly gaining size by making swift value added acquisitions. Perhaps this is why last week the Company’s value rose by 48.08%, that’s a very good result when you think that the adult use market in Canada has only just begun.
Headquartered in Mission, Canada; Viridium Pacific Group Ltd has a market cap of C$ 73 m.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment (similar to CFA), and a Graduate Diploma in ... <Read more about Matthew Bohlsen>