Yet another Licensed Producer is coming to the TSX Venture Exchange! Hemisphere Pharmaceuticals' parent, Newstrike Ltd. is expected to begin trading tomorrow, June 1st, 2017. Shares of Newstrike will be trading on the TSX-V under the symbol "HIP". Given the recent selling pressure across many of the Licensed Producers and the marijuana space broadly, it will be interesting to watch investor demand in this newly listed LP.
Newstrike's wholly-owned subsidiary, Hemisphere Pharmaceuticals, is licensed under Health Canada's Access to Cannabis for Medical Purposes Regulations (ACMPR) to cultivate cannabis at its facilities in Brantford, Ontario. Hemisphere Pharmaceuticals received its license to cultivate in December of 2016 and has a 14,000 square foot facility capable of producing approximately 3,000 kg of dry cannabis or 1.2M clones per year. Newstrike is also planning to commence construction of an additional facility in Creemore in the fourth quarter of this year.
Newstrike also has a partnership with iconic Canadian rock band, The Tragically Hip. Members of the band hold approximately 6% of the company's shares and are active stakeholders.
Learn more about Newstrike by checking out their investor deck here.
We'll be watching the markets tomorrow to see how things go for Newstrike, and we'll be sure to keep you posted on any developments. In the meantime, be sure to subscribe to our Canadian LP Newsletter to stay up to date with the LPs and check out our Canadian LP Database to check out Newstrike's publicly traded peers. Also, don't forget, MedReleaf Corp. (TSX:LEAF) is expected to make its debut on the Toronto Stock Exchange on June 7th, 2017.
I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article.
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