On February 28th, Health Canada approved the 39th licensed producer under Health Canada's Access To Cannabis For Medical Purposes Regulations (ACMPR) - DelShen Therapeutics.
Given that DelShen Therapeutics isn't publicly traded yet, news coverage of their approval was very light.
However, due to DelShen Therapeutics' unique community partnership, location in rural Northern Ontario and ambitious conversion of a former tree farm, they've gotten some news attention in the past. We did a little digging and found some interesting ways DelShen stands out from the other 38 Canadian licensed producers.
DelShen's cultivation facility is a 40,000 square foot former state-owned forestry nursery that underwent a multi-million dollar renovation to make it suitable for the cultivation of pharmaceutical-grade medical marijuana. In a 2015 interview with Bloomberg news, CEO Dr. Barry Kurtzer said that the facility will eventually produce 13,000 kilograms per year.
In addition to their facility conversion, DelShen Therapeutics has a unique community partnership with the Wahogoshig First Nation. The Wahogoshig First Nation invested $2 million CAD in the form of a convertible debenture that provided necessary capital to DelShen and economic benefits for the community. Once the facility is fully operational it is expected to employ upwards of 100 people. Given that the facility is located in a community that has a population of just 234, 100 new jobs has the potential of generating huge economic benefits for the town.
The company forecasts that the project will generate $21 million CAD in sales in its first year. That being said, DelShen only has a cultivation license, so for now they will need to sell their product through companies that have a sales license. L.P.'s that have currently have a license to sell include OrganiGram, THC Biomed and Emerald Health Botanicals.
Stay tuned for more coverage of DelShen Therapeutics! To stay up to date with developments in DelShen, the other ACMPR licensed producers and the cannabis industry in Canada and beyond, subscribe to our free email newsletter using the link below. Also, be sure to connect with The Daily Marijuana Observer on social media using the links below.