3 Major Company Developments Investors Need To Know

TM editors’ note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.

Canadian licensed marijuana producers started the week off on the right foot and we are monitoring how the sector trades following yesterday’s move higher.

This rally took place while the overall market pulled back and we continue to view the Canadian cannabis market as one of the most attractive and exciting opportunities for investors. The sector continues to advance ahead of the opening of the recreational marijuana market (expected to be before July 1st) and this is a very exciting time for the industry.

Today, we have highlighted three of the most important recent company announcements that we believe investors need to be aware of.

Canopy Growth: Continues to be a Cannabis Leader

Leading Canadian marijuana producer Canopy Growth (WEED.TO) (TWMJF) rallied more than 10% after announcing that it was granted a cultivation license for the first of its two sites operating under the BC Tweed joint venture banner.

The licensing of the Aldergrove site, the largest federally licensed cannabis site in the world, continues a pattern of execution as Canopy prepares to meet an unprecedented increase in demand in a few short months once the recreational market opens. With the Aldergrove site now in the production stage, BC Tweed’s focus will turn to its second BC site, a 1.7 million sq. ft. greenhouse, with work already well under way.

The initial licensing covers over 400,000 sq. ft. of growing space, allowing vegetative growth so that the mature plants can be spread into the full 1.3 million sq. ft. in the coming months for flowering and ultimate harvest. With this expansion, Canopy Growth is on track to have over 5.6 million sq. ft. of domestic growing space.

On Friday, Canopy Growth announced that it was conditionally selected by the Government of Manitoba to operate cannabis retail stores in the province after a rigorous and highly competitive RFP process. Canopy Growth, along with its partner Delta 9, is one of four successful candidates chosen to operate a number of retail locations throughout the province. Further details on locations and store quantities will follow as the RFP process is finalized.