Tilray, Tweed & Whistler Gain Approval to Sell Cannabis Oil

After waiting more than six months, cannabis producers Tilray, which is owned by Privateer Holdings, Tweed, a subsidiary of Canopy Growth (TSXV: CGC), and Whistler Medical, partially owned by PharmaCan Capital (TSXV: MJN) gained approval from Health Canada to sell cannabis oils.  Additionally, OrganiGram (TSXV: OGI) and Bedrocan Cannabis, another subsidiary of Canopy Growth, were approved to produce cannabis oils. The changes were noted to the Health Canada website, which shows the current status for the licensed producers authorized to produce and/or sell cannabis oil:

MMPR Oil 022316

The ability to sell cannabis oil is beneficial to the licensed producers because it not only expands the market beyond those who wish to smoke or vaporize the cannabis to those who prefer to ingest it but also allows the companies to use the trim that was previously destroyed due to sales being limited strictly to the dried flower.  The current rules require cannabis extracts to be in liquid form at room temperature and to have relatively low concentrations of THC.  Consequently, shatter, wax and other solid concentrates, extremely popular in the West in the United States, aren’t legal at this time.

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Breaking News by Alan Brochstein, CFA
Alan Brochstein, CFA
Based 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. Contact Alan: Twitter | Facebook | LinkedIn | Email

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