I love that they use social media to stay in touch with the general and investing public. Their "type" of business is so under the radar that no one outside of the investing and product producing communities would know about who they are.
I've owned small companies that never communicated anything and left investors crying for any kind of publicity or PRs to help the PPS along.
A little commentary on the following Canadian cannabis sales article.
Everyone knows the biggest hindrance to cannabis success in Canada right now is production is not right sized to demand. The inefficient cost of massive production vastly outpaces consumption.
But demand is hindered by access. Health Canada has stood in the way. They were unprepared.
Many companies continue to pursue capital raises in the equity markets. Shareholders are getting clobbered with dilution.
It's happening all in the name of trying to survive until more retail access is provided.
No one can expect the retail outlet capacity to equal what it will be in 5 years, but investors and industry insiders could have certainly expected Health Canada to have not been so indifferent as to recognize that the industry needs their support; and to shake a leg.
MEDIF is going to be a survivor and thrive when the carnage begins to happen. The essential services they are providing to the producers of products consumers are buying from those MEDIF customers, will be indifferent to the growers that go out of business (unless they are shareholders too). All the customer will care about is the products they want to buy and to have access to them.
MEDIF provides those essential ingredients that they will want to eat, drink and vape. MEDIF is going to be a rock solid survivor.
British Columbia’s adult-use cannabis program hits stride as sales double
Sales of recreational marijuana across Canada rose 19% in August to 127 million Canadian dollars ($97 million) from the previous month, buoyed by new store openings in Western Canada.
British Columbia’s adult-use market is starting to hit its stride after getting off to an extremely slow start, according to new Statistics Canada data.
Receipts of recreational cannabis there doubled to CA$12 million in August.
The province is rapidly expanding its cannabis retail opportunities. Store licenses issued rose from 14 in March to 94 in September.
“British Columbia’s significant increase in cannabis sales in August is encouraging. This is largely correlated to an uptick in licensing of cannabis retail stores across the province over the summer,” said Alex Shiff, senior consultant for Vancouver communications company Navigator. “The B.C. government is aware that the province has been lagging behind other provinces, and it is clear they know that this is a significant issue that needs to be addressed.”
While British Columbia had the fourth-highest sales total out of Canada’s 10 provinces and three territories, the number is poised to strengthen in the coming months.
New store openings – currently the biggest driver of retail sales in Canada – could reach five dozen in British Columbia in the near future, pending the results of final inspections.
Just over 150 stores were licensed to open in the province as of mid-October, while 86 had passed final inspection (though not all may be open for business).
British Columbia’s sales remain low compared to other provinces.
Ontario continued to lead Canada with CA$33.7 million in monthly sales, a slight improvement over July’s CA$29.6 million. That province was stuck on 24 stores as of August.
Quebec (CA$26.7 million) and Alberta (CA$24.8 million) round out the top three.
No new stores opened in Quebec this summer.
The number of cannabis retailers in Alberta shot up from 126 in June to 288 in September.
Manitoba was the only province to see sales drop. Consumers there bought CA$5.7 million worth of adult-use cannabis products in August, down from CA$5.8 million in July.
Matt Lamers can be reached at mattl@mjbizdaily.com
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