"It's difficult. It's a new business but we cannot advertise. It is a narcotic," he said. "The road ahead is really making sure that we have a quality medicine, quality product and variety that we think patients will be happy with."
Medical marijuana will be priced between $7 to $12 a gram depending on the strain, which Rifici believes is similar to the street value of marijuana. The plant is expected to generate "well over" $100 million in revenue annually once it is operating at full capacity, Rifici said.
Now that it has a licence, Tweed is seeking a listing on the TSX Venture Exchange.
Tweed, which employs about 20, is laying the groundwork for what it hopes will be a $100 million-a-year operation. The company is acquiring a stock listing on the TSX Venture exchange. Tweed signed a letter of intent Jan. 2 to acquire the listing of LW Capital Pool Inc. through what is known as a reverse takeover. LW will issue so many shares to buy Tweed, that Tweed will wind up owning 95 per cent of the new entity.