Tuesday, July 18, 2017 3:22:42 PM
Canada’s biggest medical marijuana producer, Canopy Growth in Smith Falls, Ontario, serves more than one third of the nation’s MMJ patients and generated 203 million Canadian dollars ($160 million) in revenue last year.
But the company also lost CA$16.7 million.
How? An aggressive expansion plan.
Canopy owns the Tweed, Mettrum and Bedrocan cannabis cultivation companies and operates grow sites on the eastern and western sides of Canada.
In the east, Canopy currently operates four cultivation sites in Ontario and intends to open one more in the province.
The company is also awaiting inspection of a Quebec grow site that’s seeking a license and is renovating a building in New Brunswick that Canopy hopes to get licensed for cultivation.
In the west, Canopy is pursuing a license in Edmonton, Alberta, and trying to expand a license in Saskatchewan.
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