#Canadian
#Cannabis; Down but Far from Out- Growth for 2023 and Beyond (OTC: $CPMD)
(NASDAQ: $TLRY) (OTC: $NXTTF) (NASDAQ: $HITI) @CannapharmaRx @tilray
@wearelifeist @HighTide_HITI
Vancouver,
Kelowna, Delta, BC -December 22, 2022 - Investorideas.com, a
leading investor news resource covering cannabis and wellness stocks releases a
special on the continued development of the Canadian retail market and how we
are seeing many companies gear up for growth in 2023 and beyond, featuring
CannaPharmaRx, Inc. (OTC:CPMD).
Read this article,
featuring CPMD in full at https://www.investorideas.com/news/2022/cannabis/12221Canadian-Cannabis.asp
While
growth in the Canadian market hasn’t been as aggressive as expected, we are
still seeing overall growth from the previous year. In recent
news, Statistics Canada released October retail sales for
the country, with cannabis
sales decreasing from September marginally to
C$389.2 million. The growth per-day slowed, as October has one more day than
September. September was revised from C$389.9 million to C$392.3 million. The
sales were up 9.5% from a year ago, the lowest since legalization began and
down from the reported 12.2% September growth rate that was revised to 12.5%.
In 2022, total sales have increased 18.4% compared to the first ten months of
2021 to C$3.72 billion.
CannaPharmaRx, Inc.
(OTC:
CPMD), a future leader in ultramodern, highly efficient
cannabis production facilities announced that it received its cultivation license from
Health Canada. The license, LIC-3JCQW6DIU0, is a major step towards production.
A standard cultivation license is necessary for larger companies that want to
build and grow in a large-scale facility. Upon receiving the cultivation
license the company can now grow cannabis and sell wholesale to other licensed
producers.
Now
that the cultivation license is approved the company anticipates completing the
first harvest and sales during Q1 2023 with estimated annual revenue over $30
million.
“The
company now has the facility in Cremona in the final preparations of facility
opening. As a result of a multi-million dollar offtake agreement, several
strains of genetics for a variety of high-quality cannabis products and a
cultivation license, we are primed to enter the cannabis market. This keeps us
on track to complete our first harvest and distribution during the next few
months with rapid revenue expansion," stated Nick Colvin, CEO of
CannaPharmaRx.
Tilray Brands, Inc. (Nasdaq:
TLRY) (TSX:
TLRY) a leading global cannabis-lifestyle and consumer
packaged goods company inspiring and empowering the worldwide community to live
their very best life, recently
announced that the Company will release financial results for
its second quarter ended November 30, 2022 on January 9, 2023, which has many
in the industry abuzz.
This
followed their
announcement of the launch of a new limited edition,
premium craft flower series by lifestyle brand, RIFF. The brand’s new series is
designed to introduce two new collections of craft flower featuring a rotation
of limited edition, rare genetics for the discerning RIFF consumer.
With
brand roots seeded in a joint effort, RIFF returns with a new collaborative
series partnering with talented local craft growers in its community. Under
RIFF’s new Orbital flower collection, consumers will find a rotation of
incredible indica strains to choose from, while the Crossfade flower collection
rotates elevated sativa strains, all crafted to the highest standard.
Serving
as the brand’s most refreshing additions to the portfolio with higher THC
potencies and elevated terpene levels, the premium craft strains will launch in
market under Orbital Indica and Crossfade Sativa with a new, exclusive strain
to be introduced for each rotational drop.
Lifeist Wellness
Inc. (TSXV:
LFST) (OTC:
NXTTF), is also looking to expand their offerings as we move
into the new year having announced that
its wholly owned Canadian cannabis business unit CannMart Inc. is introducing
seven new SKUs in Alberta for its award-winning in-house brand Roilty,
including Roilty’s first-ever dried flower offering, as well as several
complementary new products from Zest. This latest product line expansion, which
is expected by April 2023, will solidify the Roilty brand name among provincial
buyers and retailers as one of the highest quality concentrates and vapes in
the Canadian cannabis industry.
CannMart
has grown its Roilty product line in Alberta significantly over the past year,
from two SKUs in the Fall 2021 to 16 currently. With the addition of the
planned seven new SKUs, the number of active Roilty products in the market in
Alberta is expected to be 23. When SKUs from Master Distribution Agreement
partners are included, such as Zest, CannMart’s overall offering in Alberta
will include 35 active SKUs between Roilty and MDA partners, a significant
increase in portfolio and shelf space.
“There
is no other way to view the product expansion success of Roilty than through
the continued support and belief in the brand from provincial buyers, retailers
and budtenders,” commented Daniel Stern, CEO of CannMart. “CannMart continues
to expand the Roilty product portfolio, taking advantage of our advanced
extraction and manufacturing capabilities and leveraging the popularity of this
award-winning brand across Canada. Developing, manufacturing, expanding, and
promoting our proprietary brands is a key focus of our asset-lite,
risk-mitigated model, and our continued progress is evidence of the success of
this strategy.”
When
looking at how high the competition is for sales in a Canadian market, High Tide Inc. (NASDAQ:
HITI) (TSXV:
HITI), a leading retail-focused cannabis company with
bricks-and-mortar as well as global e-commerce assets, recently
announced that according to new data recently released by the
cannabis business publication, New Cannabis Ventures, the Company is now
Canada's top revenue-generating cannabis company.
|
Source:
New Cannabis Ventures2 |
|
Company Name |
U.S.
Stock Symbol |
Non-U.S. Symbol |
Qtr
Ended |
Qtrly Sales (CAD) |
Q/Q Growth |
Y/Y Growth |
Adj.
Op. Income |
Next Financials |
|
High
Tide |
NASDAQ: HITI |
TSXV:
HITI |
07/31/22 |
$95.40 |
18
% |
98
% |
($4.70) |
~01/30/23 |
|
Canopy
Growth |
NASDAQ: CGC |
TSX:
WEED |
09/30/22 |
$88.00 |
-5
% |
-29
% |
|
~02/14/23 |
|
SNDL
Inc. |
NASDAQ: SNDL |
|
06/30/22 |
$78.00 |
4
% |
133
% |
($93.70) |
~03/31/23 |
|
Nova
Cannabis |
TSX:
NOVC |
OTC:
NVACF |
09/30/22 |
$58.90 |
5
% |
52
% |
$2.30 |
~03/31/23 |
|
Aurora
Cannabis |
NASDAQ: ACB |
TSX:
ACB |
09/30/22 |
$49.30 |
-2
% |
-18
% |
($50.70) |
~02/14/23 |
|
HEXO
Corp |
NASDAQ: HEXO |
TSX:
HEXO |
07/31/22 |
$42.50 |
-7
% |
10
% |
($114.80) |
12/15/22 |
|
Fire
& Flower |
OTC: FFLWF |
TSX:
FAF |
07/30/22 |
$40.70 |
-1
% |
-6
% |
($21.00) |
~12/15/22 |
|
Organigram |
NASDAQ: OGI |
TSX:
OGI |
05/31/22 |
$38.10 |
20
% |
88
% |
($10.90) |
11/28/22 |
|
|
|
_________________________________ |
|
1
Ranking relates to companies reporting in CAD |
|
2
Based on reporting by New Cannabis Ventures as at November 14, 2022. For the
New Cannabis Ventures' senior listing, segmented cannabis-only sales must
generate more than US$25 million per quarter (CAD$31 million) - for full
details, see: https://www.newcannabisventures.com/cannabis-company-revenue-ranking/ |
"Since
going public, we've continuously been a leader in Canadian retail cannabis.
According to New Cannabis Ventures, we are now the highest Canadian
revenue-generating cannabis company across all three verticals of retail,
extraction and growing. This is a testament to our team's dedication and
continued execution to clearly surpass our own internal objectives over the
last few years. High Tide was amongst Canada's top growing companies as ranked
by the Globe and Mail's Report on Business Magazine in both 2021 and 2022,
reaching a ranking of 21 out of 430 in 2022. This exponential growth was all
accomplished without having more than 29 million dollars in our bank at any
given time," said Raj Grover, President and Chief Executive Officer of
High Tide. "We see plenty of opportunities in Canada, the U.S. and
internationally in 2023 and beyond as we continue this strong momentum to
further increase our top line significantly. This growth will come from ongoing
bricks-and-mortar expansion in Canada as well as our new and existing
e-commerce platforms facilitating the sales of consumption accessories and
hemp-derived CBD products. Our continued focus on operational execution is
something that I believe can set us up to be amongst the highest
revenue-generating companies in all of cannabis. I want to take this
opportunity to thank our customers, shareholders and team members for making
this success possible," added Mr. Grover.
In
a recent article from The
Motley Fool titled, Cannabis Stocks – Should Investors Buy Before 2023? “Cannabis
stocks are still in for a rocky future. However, it’s a future that will
stabilize with time. Think of this as like the beginning of mass alcohol
legalization. There were some rocky times, to be sure. However, we’re now in a
place where there are large alcohol companies with blue-chip status. With a
recovery perhaps on the way, I would consider getting in on cannabis stocks
before 2023 is out.”
As
we see the industry develop in Canada, and as developments in legislation
continue to push forward in the US, there are a variety of indicators pointing
to stronger sales over the short and long term. This is especially true as we
see more competitive genetics and growing techniques push the price down and
the quality up, something that continues to be an issue for attracting
consumers away from the legacy market, but is slowly being addressed by the
evolution of the legal market.
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