CANOPY GROWTH CORP COM NPV (OTCMKTS:TWMJF) is one of the companies in cannabis sector you need to know. TWMJF has curated cannabis varieties and large, full-scale production facilities with quality control measures that other companies can only dream of right now. In addition, TWMJF is working on bringing medical marijuana to the healthcare industry and has the reach to do so with global operations. However, recent news made the company a little stronger and the share price has bounced upward.
In short, the recent announcement for TWMJF adds a new facility in Alberta and a new facility in New Brunswick. Furthermore, the company released financials that show steady growth.
CANOPY GROWTH CORP COM NPV (OTCMKTS:TWMJF) has now increased its capacity significantly with these two additional facilities. Bottom line, TWMJF is a strong player in this industry and may not be this low-priced for long.
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As an overview, the company produces and sells medical marijuana in Canada. It offers dry cannabis and oil products primarily under the Tweed and Bedrocan brands. It also sells its products through online.
According to company materials, “Tweed is the most recognized marijuana production brand in the world. It has built a large and loyal following by focusing on quality products and meaningful customer relationships. Tweed doesn’t just sell marijuana, it facilitates a conversation about a product we’ve all heard about but haven’t met intimately yet. It is approachable and friendly, yet reliable and trusted. As marijuana laws liberalize around the world, Tweed will expand its leading Canadian position around the globe.”
Also from their materials, “Bedrocan is the epitome of medical-grade cannabis. Bedrocan BV pioneered medical cannabis in Holland through decades of selection and refinement, leading to standardized, whole bud cannabis strains that patients can rely on. Bedrocan Canada supplies the same standardized strains to the Canadian market through exclusive licensing rights to the American continents, an arrangement it will also enjoy for all future genetic advancements. Due to its consistency over time, Bedrocan’s strains have been used in clinical research in seven European countries. That commitment to research didn’t stay on the east side of the Atlantic – Bedrocan Canada recently launched one of the largest clinical cannabis studies in the world, the EQUAL Study, to evaluate quality of life before and after medical cannabis use.”
TWMJF has recently added PUF Ventures Inc (CSE: PUF), a London, Ontario based late-stage Access to Cannabis for Medical Purposes Regulations (ACMPR) applicant, to its curated CraftGrow line. The CraftGrow line brings to market high quality cannabis grown by a diverse set of producers, to Canopy Growth’s Tweed Main Street customers.
Mark Zekulin, President of Canopy Growth, added this statement:
“Our approach with CraftGrow and Tweed Main Street is to establish a diverse online marketplace for legal medical cannabis products. People can seamlessly access Canada’s leading cannabis brands with one medical document rather than being tied to a single producer. For new producers, having access to the largest group of registered patients in the country can go a long way towards building brand awareness. And for us, it’s an opportunity to position ourselves as the online source of cannabis in Canada, while bringing more product variety and reliability to our customers.”
On June 27, 2017, TWMJF released its financial results for the fourth quarter and fiscal year 2017, the period ended March 31, 2017. Some of the fourth quarter fiscal 2017 highlights include:
- Revenue of $14.7 million; a 50% increase over third quarter fiscal year 2017 and a 191% increase over the prior year’s quarter
- Average sales price per gram was $8.03 as compared to $7.36 in the third quarter of fiscal year 2017 and $7.16 in the prior year’s quarter
- Sold 1,740 kilograms and kilogram equivalents; a 40% and 149% increase over the third quarter fiscal year 2017 and prior year’s quarter, respectively
- Adjusted Product Contribution was $9.6 million or 66% of revenue as compared to an adjusted Product Contribution of $3.2 million and 63% of revenue in the same quarter of last year, and 68% for the third quarter of fiscal 2017
- Sales and Marketing and G&A expenses continued the trend of decreasing as a percentage of sales
- Adjusted EBITDA amounted to a loss of $5.3 million compared to an Adjusted EBITDA loss of $4.4 million in the prior year’s quarter
For fiscal year 2017, revenue of $39.9 million was reported; an increase of 214% over fiscal year 2016 revenues of $12.7 million. The Company ended the year with $101.8 million in total cash and cash equivalents.
Bruce Linton, Chairman & CEO stated:
“We will continue to invest in our business, to bring more capacity and more permitted products to more customers in more markets, all with a view to increasing market share and maximizing shareholder return in the long term. We strongly believe that continuing to invest in our industry leadership position, strategically trading off short-term profitability for long term value, is the right decision for shareholders, patients and our communities.”
CANOPY GROWTH CORP COM NPV (OTCMKTS:TWMJF) is off the highs it saw in February, but the company is charging back up the hill. The company has added more than $2 to its price since the beginning of summer. TWMJF has now a market cap of $1.16B with 165.22M shares outstanding. For continuing coverage on shares of $TWMJF stock, as well as our other breakout picks, sign up for our free newsletter today and get our next hot stock pick!
Disclosure: we hold no position in $TWMJF, either long or short, and we have not been compensated for this article.