Canada’s cannabis industry is headed by various industry leaders that have been busy as of late and one of these is MJardin Group, Inc. (CSE:MJAR). The cannabis management leader continues to solidify its place as one of the top pot companies in Canada and its recent announcement is certainly going to catch the interest of new investors. Most importantly, it will be a big help to the local cannabis industry.
Mjardin Group owns a 50 percent equity interest in a AtlatiCann Medical, Inc.-owned cultivation and extraction facility in Lower Sackville, Nova Scotia. Its investment will finally be put to good use as the facility can now fully function after successfully acquiring a cannabis cultivation license from Health Canada.
The facility measures at 48,000 square foot and has the capacity to produce up to 6,000 kilograms per year. First harvest is expected to be completed next Spring. AtlatiCann Medical plans on expanding the facility by 20,000 square feet more by the end of next year. The company also wants to secure a Good Manufacturing Practice (GMP) certification in 2019.
President of AtlantiCann Medical Inc. Christine Halef said, “we are very pleased to receive our cultivation license from Health Canada and will leverage our decade-long experience in cannabis cultivation to assist in bringing significant supply online to meet growing consumer demand for high quality medicinal and adult-use cannabis products.”
On the other hand, MJardin Group Chairman and CEO Rishi Gautam acknowledges the current trouble of Canada’s cannabis market which is the lack of supplies to meet the strong demand. The problem has persisted since the legalization of recreational marijuana last October.
Nova Scotia cannabis supply shortage issue growing more dire
The facility in Nova Scotia will be good for the local cannabis industry but it might not be enough to satisfy the strong demand. Nova Scotia’s justice minister Karen Casey has taken notice of the growing concerns over the shortage of cannabis in the province and she is urging Health Canada to license more growers.
Casey recently said that Nova Scotia is able to meet only 35 to 40 percent of the demand for cannabis. The local retailers are struggling to secure more supplies from government run outlets. There are already a few producers that can begin cultivating, but they still lack the proper licenses.
The minister said that the 12 retailers run by the Nova Scotia Liquor Corporation do not need to be shut down yet but the situation in these branches is being closely monitored already. The group is even telling its customers that supplies will be very limited in the coming weeks and that they should expect long lines at stores as well.
Canada has the biggest potential to become the global leader in the cannabis market but as long as these supply issues remain, it will not be able to reach that goal. The clear solution for the current issue is for more growers to step up to the plate and for Health Canada to issue out licenses and permits at a faster rate.