Lift Cannabis Expo @liftcannabis Showcases Growth in Sector; Canopy Growth (TSX: $WEED.TO) and Aurora Cannabis Inc. (TSX: $ACB.TO)
Point Roberts, WA and Delta, BC - January 16, 2018 (Investorideas.com Newswire) Investorideas.com, a global news source and investor resource covering cannabis and hemp stocks covers what’s new in the sector at the recent two- day Lift Expo.
The Lift Cannabis Expo held at the Vancouver Convention Centre on January 13 and 14 in Vancouver, Canada, drew both investors and enthusiasts and featured nearly 200 exhibitors in the Cannabis sector.
One of the event's title sponsors was Tweed, a subsidiary of Canopy Growth Corporation (TSX: WEED). Their Quebec Brand Manager, Adam Greenblatt was at the event, and said the company has secured agreements with some provinces to better position for the retail market.
"We've already signed supply agreements with Newfoundland & Labrador and New Brunswick," he said. "In Newfoundland & Labrador we're going to have the ability to run our own retail shops, which is interesting and kind of unique relative to what's going on in other provinces."
Greenblatt said the retail experience will vary between provinces, but that the company is focusing on setting up large scale production.
"We may be looking at a mixed system in B.C., private in Saskatchewan and Manitoba, we've obviously got the crown corporations in Ontario and Quebec so there's different things to work on in each province," he said. "Really what we're trying to do is get production established in each of those major provinces. We've got three million square feet of greenhouse in B.C. right now that we're converting. We just did a joint venture in Quebec with the largest pink tomato producer in North America. We're going to be turning their greenhouse into a cannabis production facility as well."
Another exhibitor and platinum sponsor of the Expo was Aurora Cannabis Inc. (TSX: ACB), a licensed producer of medical cannabis. Aurora Cannabis's Manager of Communications, Shea Dewar, said the company is concentrating on production to anticipate the demand following legalization of cannabis.
"One of the big things we're focusing on is that we have enough supply to meet the demand of the recreational market or adult-use market once that comes into play," he said. "Right now we're building Canada's largest indoor greenhouse just outside of the Edmonton airport. 800,000 square feet, it's going to be able to produce over 100,000 kilos a year once it's finished. It's called Aurora Sky."
Regarding the event, Dewar noted the expansion of exhibitors and attendees and how it reflects the development of the cannabis sector.
"I think I've been to half a dozen Lift expos and this is clearly the biggest one," he said. "The amount of people and the variety of people that are coming in have really shown the growth of the industry and the changing dynamics in the way people are viewing cannabis in general."
Greenblatt said in the next year we should see greater accessibility in the cannabis space as well as considerable industrial growth.
"2018 looks like adults finally having access to cannabis in a retail environment and it looks like massive expansion on the production end." he said.
By Samuel Mowers , Investorideas.com
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