Cannabis as a market has been growing quite quickly over the course of the past few years with many new businesses springing up due to the increasingly lax legislation for the drug. With the scheduling of marijuana hoping to change in the near future, many large companies are coming into the space that otherwise would not have.
One of the most promising companies in the space of cannabis continues to be Aurora Cannabis (NASDAQ:ACBFF). Aurora has helped to bridge the gap between the large cannabis market and the consumer. The Canadian company has been working on building out their production so that they can continue to grow with the expanding market int he near future. As demand for the product rises, it looks as though Aurora could become one of the leading competitors in the space in the foreseeable future.
Cannabis Wheaton Income Corp (OTC:CBWTF), is another one of the companies that is continuing to come forward with the new legislation that is being put in place. The company recently entered into an agreement with FV Pharma Inc. to help develop how they are cultivating the raw product so that they can do a better job in the future. Cannabis Wheaton has agreed to facilitate the growing of different phases in the cannabis production line to help build one of the largest indoor cannabis cultivation facilities in the world. The state of the art facility will have over 620,000 square feet of growing capabilities which will make them one of the top players in the industry.
Alliance Growers Corp. has also come into the spotlight in the industry for their production of cannabis and cannabis based products. The company has recently according to a press release “announced the addition of state-of-the-art greenhousesfor year-round nurseries of cannabis plants for the production of a propriety CBD strain at the Company’s Cannabis Botany Centre. The initial rollout plans for up to 200,000 square feet of automated glass greenhouses with P.L. high-end horticultural lighting. The Alliance Growers’ greenhouses will be capable of producing over 300,000 grams per week or 15,600 kilograms per year of dried CBD cannabis.” This is quite a massive amount and continues to represent the changing space in the marijuana industry. With CBD being on of the leaders in curing and aiding different diseases in the world of cannabis, any amount of increased production will help the space to grow by quite a large amount.
The company known as Lineage Grow Company has recently managed to list their common shares, which will hopefully go into effect towards the beginning of March named “BUDD.” The company is one of only a few that are working to create the name for themselves as one of the primary growers in the market. This corporate milestone is still in the works, and it seems like it is going in the right direction. The Hydropothecary Corporation, another player in the cannabis industry recently signed a letter that they will be supplying Quebec with as much as 20,000 Kilograms of cannabis during the first year of legalization in the country. The company recently stated that “this supply arrangement is an important step for Hydropothecary. We are honoured by the opportunity to supply cannabis in our home province and we want Quebecers to know that we are committed to providing safe and high-quality products for the adult-use recreational market.”
As the market on cannabis is continuing to grow at such a high pace, only time will tell how well these businesses are able to compete in what is becoming quite a large market. Hopefully the next few years will see legalization of the plant across the U.S. and Canada.