Canadian Cannabis Cultivation License Awards Surge

In 2015, Health Canada issued just five new cannabis cultivation licenses during the entire year. Last week, it issued just as many, bringing the year-to-date total to 13 and surpassing the 10 granted in 2016, with a total of 50 licenses having now been issued, all of which are available here.

The five newly named license holders alphabetically are Canveda, International Herbs Medical Marijuana (Zenabis), Northern Lights Marijuana Company (DOJA Cannabis), rTrees Producers Limited and Sundial Growers. Canveda was the only new Ontario-based LP, while International Herbs and Northern Lights are BC-based and rTrees and Sundial are based in Saskatchewan and Alberta, respectively. rTrees was acquired by Canopy Growth (TSX: WEED) (OTC: TWMJF) earlier this year. Northern Lights merged with Spirit Gold (TSXV: SG) earlier this year but has been halted from trading since February. Sundial is one of the named partners of Cannabis Wheaton (TSXV: CBW) (OTC: KWFLF).

The increase in the number of licenses follows a number of recent changes conveyed by Health Canada in late May. As Canada prepares for legalization for adults in 2018, the government is concerned about an adequate supply of cannabis.

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ab-byline-ncvBased in Houston, Alan leverages his experience as founder of online communities 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV.

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