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Friday, December 4, 2020

Canopy Growth Corp (OTCMKTS:TWMJF) has Established a Large Presence in Québec

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Canopy Growth Corp (OTCMKTS:TWMJF) continues to be a clear leadership play in the global cannabis space. TWMJF remains the only player to receive significant investment interest from an S&P 500 company (Constellation Brands took a stake in Canopy last October). Shares continue to battle for support along the stock’s key 50-day SMA as sector weakness continues to weigh on the action.

The latest from the company is its announcement that it has signed a letter of intent with the Société des alcools du Québec to provide the Québec market with 12,000 kilos of high-quality cannabis annually. According to the release, “this announcement marks Canopy Growth’s fourth and largest supply agreement to-date, following previous agreements with the Provinces of New Brunswick, Newfoundland and Labrador, and Prince Edward Island. Three provinces have now announced supply arrangements with Licensed Producers, all of which include Canopy Growth. The Company now has more supply commitments than any other Licensed Producer in the country.”

Canopy Growth Corp (OTCMKTS:TWMJF) is one of the bigger growers in the industry. 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.”

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“We’ve made major investments in the Province of Québec and feel honoured to be chosen to supply the country’s second-largest province, and a region we call home, with our wide variety of cannabis products,” said Mark Zekulin, President, Canopy Growth. “Signing this letter of intent with SAQ further establishes our dedication to the region and our level of commitment to providing adult consumers in Québec with safe, high-quality cannabis.”

According to the release, Canopy Growth has established a large presence in Québec with the acquisition of Vert Cannabis in Saint Lucien, Québec, and the recent introduction of Vert Mirabel, a Joint Venture with Les Serres Stéphane Bertrand Inc., a large-scale tomato greenhouse operator in Mirabel, Québec.

Recent action has seen 5% piled on for shareholders of the listing during the trailing week. In addition, the stock has seen interest climb, with an increase in recent trading volume of 100% above the average volume levels in play in this stock over the longer term.

Earning a current market cap value of $2.4B, TWMJF has a significant war chest ($108.9M) of cash on the books, which is balanced by about $1.6M in total current liabilities. TWMJF is pulling in trailing 12-month revenues of $57.9M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 106.7%. As more color becomes clear on the name, we will review the situation and update our take. Sign-up for continuing coverage on shares of $TWMJF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $TWMJF, either long or short, and we have not been compensated for this article.

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