Emblem Corp. (TSXV:EMC,OTCQB:EMMBF) has been trading on the TSX Venture Exchange since December 9, 2016, and has provided shareholders with a list of accomplishments to-date, as well as future plans sure as its plans to pursue the “upper echelon” of the recreational market by investing in the construction of a “closed box horticultural environment.”
As quoted in the press release:
Today, Emblem is fully licensed and actively registering patients. Our facility in Paris, ON was designed and built to produce elite quality dried flower. From inception we have been successful in raising over $42 million dollars of capital and we currently enjoy a cash position of $27 million as we expand our production capacity for medical offerings and prepare for the onset of the recreational market.
Our facility currently operates with two flowering rooms, one vegetation room, one mothering room and one propagation room, supported by trimming and drying facilities, fulfillment, administration and a 625kg vault. We will commission three new growing rooms in March and a 4th in June. We’re currently growing a total of 12 strains, with a variety of CBD and THC strains, (indica, sativa & hybrids). We have an excellent cultivation plan and a superb growing team to carry it out. Our growers are passionate and experienced. Management’s mission is to provide our growers with the ideal growing environment to produce the highest quality offerings for both the medical and anticipated recreational market.
Recent trends in the medical cannabis market are encouraging. The registered patient base for the industry appears to be growing at the extraordinary rate of about 10% per month. However, the number of physicians prescribing medical cannabis still appears to be below 5% of the total. While patient numbers may be increasing, they continue to confront difficulty accessing the system.
GrowWise is committed to meeting this challenge. GrowWise continues to expand its clinic network and we expect it to be serving a significant patient base by the end of 2017.
We continue to believe that medical cannabis in Canada will experience fundamental change in the coming years. We expect the number of authorizations filled in dried flower format to reduce materially over time and be replaced by authorizations for cannabis medication in standard pharmaceutical dosage formats. We are committed to be in the vanguard of this developing pharmaceutical field. We expect that the market for cannabinoid based pharmaceutical formulations to be significant. Emblem is committed to deploying the laboratory facilities and building the scientific team capable of developing a range of formulations to reach these markets.
… We continue to perceive that the recreational market will evolve into a distinct “table wine” market and “fine wine” market. Emblem will be focusing on the upper echelon of the recreational market where we perceive that margins will be the most attractive. To pursue this objective Emblem will be deploying significant capital for the construction of the highest possible “closed box” horticultural environment capable of producing the highest quality product, at scale. We have plans and funding in place to build and commission capacity to 12,000 kgs annually for the arrival of recreational cannabis. We have additional longer-term plans to expand production to over 21,000 kgs annually.
Click here for the full press release.
This is an updated version of a company news post originally published on Cannabis Investing News on October 17, 2016.
Marijuana Business Daily reported that Emblem Pharmaceuticals is set to make its debut on the TSX Venture Exchange in November, under the symbol “EMC”. In an interview with Emblem President John Stewart by MoneyShow.com, he says, “Emblem is one of the 30 licensed producers in Canada that are licensed by Health Canada to be able to cultivate various strains of cannabis and sell those strains to patients in Canada in the dosage forms that are currently allowed by Health Canada.”
As quoted in the article:
The Ontario company is the latest federally licensed medical marijuana cultivator to list its shares on an exchange, thanks to Canada’s legalized MMJ industry.
Emblem President John Stewart told MoneyShow.com the IPO will come out next month and trade under the symbol EMC. Stewart said the company hasn’t yet priced the offering but that it’s likely to fall between 1 and 1.25 Canadian dollars per share (76 cents to 95 cents).
Recently, investors have been betting aggressively on Canadian marijuana stocks, sending their share prices higher. The Canadian federal government is expected to introduce legislation next spring to legalize recreational marijuana, opening up new opportunities for cannabis businesses.