CFN Media Takes an Inside Look at Cannabis Wheaton with CEO Chuck Rifici


Ryan Allway

June 9th, 2017

News, Top News


Canada’s cannabis industry is projected to surpass $5 billion to $7 billion over the coming years, according to the government’s estimates, while private analysts have pegged the market at much higher levels. These tremendous growth rates have helped propel many licensed producers into hundred million dollar valuations – or even multi-billion dollar valuations in the case of industry leader Canopy Growth Corp. (TSX: WEED).

Cannabis Wheaton Income Corp. (TSX-V: CBW) is the first cannabis streaming company that aims to stream production from partner licensed producers and applicants. The company’s goal is to facilitate real growth for its streaming partners by providing them with financial support and collective industry experience, while providing its own shareholders with diversified exposure to the burgeoning cannabis industry – a win-win-win for all parties involved.

CFN Media recently interviewed Cannabis Wheaton CEO Chuck Rifici to discuss the company’s latest progress and where it’s headed moving forward:

 

Beleave Secures a License

Cannabis Wheaton made significant progress earlier this month after Beleave Inc. (CSE: BE) was granted a cultivation license under the Access to Cannabis for Medical Purposes Regulations (ACMPR). The cultivator will become the company’s fifth licensed producer partner following the deal and represents a key milestone in its corporate development. With its first facility done, the likelihood of future site approvals is significantly higher.

Under its deal with Beleave, Cannabis Wheaton will work cooperatively to identify an appropriate second site to be acquired and developed by a newly formed special purpose subsidiary of Beleave. The new site is expected to be located in Ontario and will be designed to accommodate an estimated 200,000 square feet of cultivation space. The company will provide much of the funding in return for an equity stake and 50% of the proceeds of retail sales.

Landmark Deal with ABcann

Cannabis Wheaton recently announced a binding interim agreement with ABcann Global Corp. (TSX-V: ACBN) to fund the construction of an additional 50,000 square foot cultivation space at the company’s proposed Kimmett facility in Napanee, Ontario.

Under the terms of the agreement, the company agreed to invest $30 million in ABcann at C$2.25 per share and subsequently provide all necessary funding to complete the construction of the cultivation facility. The company will receive 50% of the proceeds of future wholesale or retail sales from the CBW-funded facility, which could amount to upwards of 8,000,000 grams net to CBW per year. The company also benefits from any potential upside from ABcann’s stock given its equity investment.

The ABcann deal represents the sixth license in the company’s growing portfolio – more than any other LP – and its first deal with a publicly-traded licensed producer holding a sales license. While the agreement remains subject to certain conditions, ABcann’s significant experience in the industry helps ensure that the deal will succeed. The cultivator is widely recognized for their proprietary cultivation methods that produce high quality cannabis with leading yields.

Building a World-Class Team

Cannabis Wheaton already has a stellar management team that’s led by CEO Chuck Rifici, who was a co-founder of Canopy Growth Corp. (TSX: WEED) – a multi-billion dollar cannabis ‘unicorn’. The team is comprised of industry first-movers, visionaries, and thought leaders with an unparalleled depth of knowledge across retail, branding, finance, and technology. These skillsets have proven invaluable as it casts a wide net across the emerging market.

Recently, the company appointed Kevin Furet as Chief Cultivation and Genetics Officer to comply with certain pre-existing contractual obligations. Until last month, Mr. Furet served as the Master Grower for Canopy Growth Corp. and brings more than 17 years of production techniques, plant breeding, and strain development experience to his new role. He will be working with the company’s partners to optimize yields and quality over time.

Looking Ahead

Cannabis Wheaton Income Corp. (TSX-V: CBW) represents a compelling investment opportunity within the burgeoning cannabis industry. With fourteen streaming agreements in place covering sixteen facilities and including six existing licenses, the company is forecast to have the greatest production capacity of any company globally going into a recreational market. Cannabis Wheaton is set to begin generating revenue and net income for investors at the highest possible margins because of the the zero operating expenses business model. Investors may want to take a closer look given the company’s tremendous potential and the opportunity for diversified exposure to the industry.

For more information, visit the company’s website at www.cannabiswheaton.com.

Ryan Allway

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


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CFN launched in June of 2013 to initially serve the growing universe of publicly traded marijuana companies across North America. Today, CFN Media is also the digital media choice for the emerging brands in the space.

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