Monday, August 25, 2014 6:16:34 AM
Yesterday, Bedrocan filed its financials for the three months ended June 30, 2014. It lost $590,768 on revenue of $369,433. The company sells each gram of medical marijuana for $7.50, and currently sells approximately 15 kilograms a month. It imports marijuana from its joint venturer, Bedrocan Beheer, which has agreed to make available a total of approximately 300 kilograms of medical marijuana to Bedrocan Cannabis between late 2013 and April, 2015, after which Bedrocan expects its local grow-op facility to be complete. At its new facility, Bedrocan anticipates growing 4,000 kilograms a year to generate sales of about $30-million.
Our other licensed producer of medical marijuana, Denis Arsenault's OrganiGram, has completed a reverse takeover of David Doherty and Aaron Keay's failed mining explorer, Inform Exploration Corp. (IX), and will resume trading Monday as OrganiGram Holdings Inc., symbol OGI. Inform rolled back its shares 0.883604747:1 and issued 34.5 million postconsolidated shares to OrganiGram shareholders, of which 5,715,737 went to Mr. Arsenault, the CEO and largest shareholder of OrganiGram. This company has built a grow-op facility in Moncton and expects to begin selling its product in the third quarter of 2014.
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