Cansortium’s Canadian Licensing Advances International Expansion
June 11th, 2019
App, Exclusive, News, Top Story
While plenty of US-based companies are operating in Canada, and Canadian-based companies in the US, it is rare to see a company operating in both the US and Canadian markets, meaning that most of them are missing out on the full scope of opportunity presented by the North American cannabis market.
Florida-based Cansortium Inc. (CSE: TIUM), a leading cannabis multi-state operator working to redefine the standards for cannabis care, is establishing a Canadian footprint in order to realize the opportunities presented on both sides of the border.
Although cannabis is still technically illegal under US federal law, 33 states have legalized cannabis in some form, most for medical purposes, while ten of them along with Washington DC have legalized cannabis for recreational purposes (Illinois looks to join their ranks in the near future), and another 14 have legalized CBD. 2018 was a banner year for the US market, and its value is estimated to grow from $10.4 billion to $16 billion this year.
According to a recent report by Brightfield Group, based on existing sales figures, the Canadian cannabis market is expected to reach $5 billion by 2021, while Deloitte estimates the Canadian market for derivative products – which are set to be legalized in October – to be worth $2.7 billion annually, with edibles leading with $1.6 billion alone.
So the total market is huge, and presents a wonderful opportunity for those with the foresight to cross the US-Canada border.
Maturing Canadian Market Means Opportunity
Cansortium announced on May 6th that Health Canada has granted Cansortium Canada, the company’s wholly-owned Canadian subsidiary, a cannabis cultivation, processing, and
medical sales license, authorizing it to cultivate and process cannabis containing both THC and CBD, as well as distribute seeds and plant materials to authorized provincial and territorial distributors and retailers, and sell fresh and dried flower as well as cannabis oil directly to registered patients in Canada.
Recently-announced changes by Health Canada require applicants for licenses to cultivate, process, or sell cannabis to have a fully-built site that meets the requirements of its cannabis regulations at the time they submit their application.
Cansortium Canada controls a facility in Grimsby, Ontario consisting of 21,780 sq. ft. of greenhouse cultivation space, 3,468 sq. ft. for processing, and 8,500 sq. ft. of physical plant. The campus is approximately 85% complete for phase 2, planned to be completed in Q3, 2019, which will increase the total cultivation space to 100,200 sq. ft with an expected minimum annual production of up to 3,320 kgs of dried cannabis and derivatives.
Cansortium Founder & CEO Jose Hidalgo said, “After more than a year and a half of dedicated and diligent work on the process, securing our Canadian license is a significant milestone on our path toward becoming a truly global cannabis company. We are excited to begin operations immediately at our cultivation and processing facility in Grimsby, Ontario and to introduce our premium-grade Fluent Cannabis Care products to the progressive Canadian medical market.”
Cansortium’s Canadian operations also include industrial hemp cultivation and production operating under its majority-owned subsidiary, Arcadia EcoEnergies Ltd. in New Brunswick, consisting of nearly a thousand acres of hemp cultivation in 2018, where Arcadia produces seed for the processing of hemp oil, hemp meal and hemp protein powder.
Cansortium Canada to Mirror Successful US Operations
The style of operation in Grimsby will be similar to facilities the company currently operates in Florida, Texas, and Colombia, where cannabis is grown using proprietary techniques that give it an advantage over competitors relying solely on legacy cultivation practices.
For example, Cansortium’s proprietary drying & extraction machinery requires only six hours per cycle, as opposed to the six-day process required using conventional methods, while preserving terpenes and whole plant profiles. Cansortium employs state-of-the-art supercritical CO2 extraction in order to maximize cannabinoid extraction without the use of solvents, and leverages its technological superiority to maximize gross margins and output quality.
Cansortium Going Global
Aside from its Canadian operations, Cansortium also has retail, cultivation, and processing operations in Texas, Pennsylvania, Puerto Rico, and a domestic expansion into Michigan – where license-holders are allowed an unlimited number of dispensaries – is currently underway, as well as Colombia, the anticipated hub of the red hot emerging Latin American market. The company is also engaged in strategic expansions into additional Latin American and European markets – which are expected to outpace the US and Canadian markets combined.
Cansortium has been a successful strategic early-mover in large markets with high barriers to entry, and its extensive regulatory expertise enables it to navigate the steadily-evolving national and international regulatory framework. Its Canadian operations uniquely position it to benefit from the steadily-growing North American market, and reinforce that it is executing on its international growth strategy.
Keep watching this page, or visit http://cansortium.com/ for more information.
The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
Follow Us on Social Media
About CFN Media Group
CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.