The new legislation in the Canadian parliament allowing for the use of recreational cannabis has helped to push the market forward in the past several years. The past few years have also been extremely instrumental in the development of the worldwide cannabis sector on where it is currently and where it could potentially go in the new future. Many companies have been taking advantage of this new law to help develop business practices as the industry continues to improve over the next few years.
One of the companies that have been working to get to the top of this budding industry has continued to be Marapharm Ventures Inc. (OTCMKTS: MRPHF). The company recently signed a letter of intent to take over the company Full Spectrum Medicinal Inc, which is another example of the numerous amounts of partnerships going into place across the cannabis industry. The company has stated that this takeover will help Marapharm to “merge Full Spectrum application with Health Canada Application. It helps to become a licensed cannabis manufacturer of premium flower for commercial use. The company will be able to deliver organic and quality cannabis products in a cost-effective way and boost profits.” Many companies have been working to find the most cost-effective ways to produce high quality cannabis well still having a large number of distribution networks in place.
Marapharm has worked to build new standardized bio-secure facilities that help to grow cannabis in a very controlled and repeatable way. This has been extremely challenging in the past as the cannabis industry has struggled with repeatability and consistency in terms of developing a product with so many variables in regard to growing the plant. One report states that “The company will be able to grow quality cannabis indoors at reduced costs. Marapharm Ventures will deliver the first assembly building at an approved site situated near the Salmon Arm, British Columbia. The company is planning for penetration of the legal cannabis with edibles, oils, and flowers and build a long-term value in the rapidly growing market.”
Many companies in the industry have decided to move into the sector of oils and edibles due to the lucrative nature of this part of the market. Oils have become a large part of the industry growth as many patients see a high level of consistency in terms of the dosages they need and can get.
Marapharm recently introduced an update to investors to help get them up to date on what is happening within the company for the future of growth in the market. The company has also been working to increase their partnership with the market abroad with most notably, the German part of the industry. Germany has become a large player in the overall cannabis market and has since begun to partner with a large amount of U.S. and Canadian companies. These increased partnerships have in turn helped to boost the overall size of the market as well as the amount of innovation that can happen in such a new and budding industry.
Over the course of the next few years, it will remain to be seen how the mixture of positive and changing public sentiment as well as the developing legal measures, will help to make the marijuana industry more cohesive in terms of growth and development. Only time will tell how well these new measures and companies like the one mentioned above, will help to make cannabis one of the largest and fastest growing industries throughout the U.S., Canada and beyond.