On December 8th, Ontario-based AgMedica Bioscience Inc., a.k.a. AGMEDICA, was awarded a cannabis production licence from Health Canada under the Access to Cannabis for Medical Purposes Regulation. This makes AgMedica the 80th licensed producer of cannabis in Canada.
“This is another major accomplishment in the growth of AGMEDICA. The management team is pleased to have achieved this critical milestone and would like to thank all of our employees, partners, and shareholders for their efforts and continued support.” said Art Vander Pol, CEO of AGMEDICA. “We believe that AGMEDICA has one of the largest, if not the largest, initial capacity of any newly licensed producer of cannabis in Canada. While we are celebrating this accomplishment, we realize this is just one more milestone on our journey to become a global leader in cannabis production as well as the development and commercialization of cannabis-derived products that positively impacts the health and well-being of our customers.”
According to the company's press release, AgMedica is "planning to begin cultivation in the first phase of its energy efficient indoor Riverview Cultivation Facility with a current annual production capacity of 6,000 kg." Plans are in place to expand this capacity within the existing building to 26,500 kg.
Unfortunately for interested investors, the company is not publicly listed. With that said, many other Canadian Licensed Producers are public, and worth a further look.
To stay up to date with important developments in the cannabis industry, be sure to subscribe to one or more of our free email newsletters. Also, connect with The Daily Marijuana Observer on Facebook, Twitter, StockTwits and Instagram!
D/M/O
