Lexaria has made a radical shift of business, preparing to deploy its skills and resources in the most productive way possible, for the benefit of all stakeholders. It's not a decision we took lightly: all government regulated medications and substances are of great importance and deserve prudent risk managing best business practices. With nearly a decade of business operations and regulatory compliance in both the USA and Canada, serving a number of different securities, banking, and auditing regimes, Lexaria will add transparency and procedural control to every aspect of the marijuana industry that we are involved in.
Our first step into the market is a Joint Venture signed March 5, 2014 with Enertopia Corp (ENRT-US and TOP-Canada). Enertopia is one of Canada's leading medical marijuana companies with two recent acquisitions recently announced. Enertopia has the capability of putting more than 60,000 sq ft of production space into use in the cultivation of medical marijuana, through its partly owned subsidiaries.
Our Joint Venture gives Enertopia the ability to share projects and opportunities with Lexaria Corp, a Right-Of-First-Refusal that catapults Lexaria above the ranks of many also-ran competitors. And the Joint Venture allows for the two companies to work together, if we both choose, on bigger projects that might be out of the reach of either company. Together, we are much stronger than the sum of our parts!
Lexaria has developed a business plan wherein we will try to acquire more than one license to produce marijuana in Canada under the MMPR legislation. We are also evaluating potential legal grow locations in those jurisdictions in the USA where they are permitted, because it is our intention to be a North American producer of legal marijuana.
Most states require some amount of vertical integration with regards to the marijuana industry. We embrace this as it is our intention, over time, to become a vertically integrated international marijuana company; always of course with the caveat of acting within the regulatory environment of the time and places in which we operate. One day we hope to have a research and science facility to optimize strains; to grow our own inventory; to build our own brand recognition; and to be part of all the steps right to the consumer's door.
We will partner with local experts to avail ourselves of their experience and knowledge, and add our umbrella of compliance, finance knowledge, and best business practices to maximize long term returns.
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