Beleave Inc (OTCMKTS: BLEVF) is a fast-moving Canadian cannabis company that is looking to bounceback after a rough patch. One news item driving their jump is a projection released of their medical cannabis output. BLEVF ratcheted up their dried cannabis flower yield to 26,000 kilograms annually. They increased their dedicated production space through a facility expansion.
“Our growers continue to improve yields on a per square foot basis with current yields now north of 80 grams per square foot per cycle,” commented BLEVF CEO Andrew Wnek . “With five to six cycles planned per year we are confident that we will be able to exceed initial production estimates at our indoor facility.”
Beleave Inc (OTCMKTS: BLEVF) is a biotech company and Beleave’s wholly-owned subsidiary Beleave Kannabis Corp. (formerly First Access Medical Inc.) is a licensed producer pursuant to the ACMPR. Beleave’s purpose-built facility is located in Hamilton, Ontario.
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BLEVF is worthwhile keeping on your cannabis radar as they recently received their ACMPR sales license and also made a nice acquisition bolstering their portfolio in a competitive field. Medi-Green, Karmacann and My-Grow came into the BLEVF portfolio last week and this deal will hellp the company build out their client base and create a referral cycle.
Andrew Wnek, CEO, stated: “The acquisition of Medi-Green marks the first step in executing the Company’s client acquisition strategy while becoming more closely involved in an integral part of the patient experience. Integrating with clinics is a proven model which provides a significant and fluid referral program between medical practitioners and prescribing doctors. The Company plans to expand the reach of Medi-Green’s clinic network across Canada.”
According to the two companies, Medi-Green has an active patient base of approximately 4,000 with average patient subscriptions in the 2 to 3 gram per day range. Medi-Green has no long-term debt and had annual revenue of approximately $2.9 million in 2017.
In Canada, BLEVF is also looking to be an academic leader on cannabis research by working with universities to provide high-quality, pure cannabis samples. This is evidenced in the company’s research project at Ryerson University testing genetic models and genetic traits involved in cannabidiol. The research will be used to help the company design breeding programs that make use of molecular factors and further control the cannabinoid strain production.
The current balance sheet reads as 10.42M in cash and 3.91M in debt. BLEVF is ramping up cannabis growing as legalization looms and they have some room to run and have charted above $2.00 in the last six months. This might be a buy low option as Trudeau pushes the country close to full- scale recreation.
Beleave Inc (OTCMKTS: BLEVF) has a market cap of $52.36M with a float of 30.96M. BLEVF is seeing some strong bids today and volume is more than double their usual. We think this is an exciting stock to watch and will be updating readers as more news colors out. Sign-up for continuing coverage on shares of $BLEVF 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 $BLEVF, either long or short, and we have not been compensated for this article.