VANCOUVER, British Columbia, March 12, 2019 (GLOBE NEWSWIRE) -- Cannabis sales have been soaring since legalization in Canada but there's a lot more to come as the industry continues to change. With more retailers opening for business and the edibles market likely coming online this year, there's going to be many more growth opportunities. Here are some of the hottest cannabis stocks right now that are positioning themselves to take advantage of the fast-growing retail market.
Westleaf Inc. (TSX-V:WL) (OTCQB: WSLFF)
Westleaf has been making a name for itself in the industry as it looks to become a dominant force in the retail market. It's set to become one of Canada's largest premium cannabis retailers after its acquisition of Canndara Canada Inc. earlier this year.
With many locations secured throughout Western Canada, Westleaf is banking on its unique store environment - Prairie Records - to attract consumers. However, The Company is more than just a retailer as its goal is to become vertically integrated as well.
The Company came closer to achieving that when they recently announced that it was making significant progress on its Thunderchild facility. With Westleaf "substantially completing" the exterior of the facility, it is now focusing on the interior. Once completed, the facility will produce around 14,600kg of flower annually in the large 130,00 square foot location.
Westleaf CEO Scott Hurd believes the facility will give The Company a big advantage:
In addition, Westleaf is also hoping to attract some more investors as it recently began trading on the over-the-counter market in the US under the ticker symbol WSLFF. It's an important step to help The Company not only to tap into more funding but also to gain more publicity south of the border.
Organigram Holdings Inc (TSX-V:OGI) (OTC: OGRMF)
Organigram is another company looking to have a big impact on the retail market. The Company recently announced that it had signed a Letter of Intent with the province of Quebec that will make it just the third licensed cannabis producer to have a distribution agreement in all 10 provinces.
- Organigram CEO Greg Engel
With a strong presence across the country, Organigram will be on the shelves of many different retailers and will have a big impact on how things play out in the industry. The Company recently said that it expects its sales to double in Q2, after already showing strong growth in Q1. Sales that quarter reached $14.5 million, eclipsing the $2.4 million in revenue that Organigram generated in the previous year. If it's able to keep up the pace, Organigram could end up among one of the bigger companies in the industry when all is said and done.
Namaste Technologies Inc. (TSX-V:N) (OTC: NXTTF)
Namaste has its sights set on the edibles market after making a big investment it believes could yield significant returns for the Company. Last week, Namaste announced that it was purchasing 49% of the shares in Choklat Inc., a Calgary-based chocolate manufacturer. Choklat already has a supply agreement with Sobeys and its products are in 70 retailers in Western Canada. Edibles are a very popular form of cannabis, and chocolate should be a big draw for consumers.
Not only does Choklat make good chocolate, but the technology that it possesses could make it very valuable once edibles are legalized.
- Choklat CEO Brad Churchill
Edibles have been very successful in the U.S. and they'll likely be staples in pot shops across Canada as well. If Namaste's and Choklat's products make it to the retail market, it could translate into additional sales for the Company.
The Green Organic Dutchman Holdings Ltd (TSX:TGOD) (OTC:TGODF)
The Green Organic Dutchman, known as TGOD, is another company that's being aggressive in its pursuit of market share. Last month, the Company secured a supply deal with the Ontario Cannabis Retail Corporation, which currently operates the Ontario Cannabis Store (OCS) - the only way cannabis customers can legally obtain marijuana in the country's largest province at this time. The deal is a great way for TGOD to penetrate that market. While Ontario will open up the market in April to private retailers, just 25 will be permitted initially, meaning the OCS will still likely be generating a lot of traffic.
- Green Organic Dutchman CEO Brian Athaide
However, the Company isn't stopping there as this week it announced it reached a deal for an extraction services contract with Valens Groworks Corp (CSE:VGW) which will help with TGOD's hemp strategy, especially if it plans to expand into the U.S. market. Valens will help purify cannabis and help produce high-quality resins and distillates.
- Valens CEO Tyler Robson
Emerald Health Therapeutics Inc (TSX-V:EMH) (OTCQX: EMHTF)
Emerald Health recently increased its capacity for sales growth through its joint venture in Pure Sunfarms Corp., which now has over a million square feet of space that's licensed for cannabis cultivation. Given the supply issues plaguing the country, Emerald Health could help fill a big gap in the industry by producing more cannabis. Although the Company has generated limited sales thus far, that could soon change as it starts to accelerate production.
- Emerald Health Therapeutics President and Executive Chairman Dr. Avtar Dhillon
With that sort of cultivation capacity, Emerald products could soon find its way into retail pot shops across the country.
The original post can be found here: https://mugglehead.com/5-cannabis-stocks-that-could-see-significant-growth-in-retail
Disclosure: Directors of Mugglehead own shares of Westleaf Inc. and other marijuana stocks not mentioned in this release and we have been compensated by the Westleaf for news coverage.
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