MediPharm cultivation facility in Barrie Ontario expands even further
MediPharm has just received a licence to further develop its production site. They are a global leader in marijuana research and pharmaceutical quality cannabis extraction. They have also accepted a licence amendment, which will allow them to start working in their specialized production facility in Barrie, Ontario.
This project will increase the facility's footprint by approximately three times. MediPharm has its headquarters in an industrial zone, and they employ 200 people at the facility in Barrie, Ontario. It is only about 45 min away from Toronto, which puts them in an excellent position. With the new growth of the company, they will finally be able to offer the active ingredients that are needed to make edibles, beverages, topicals, and vapes.
In early 2018 MediPharm was the only company to provide concentrate only production in Canada. Early on in 2018, with limited licenses, the demand was challenging to keep up with regarding dried cannabis plant. Now with the new production space, the cannabis flower is readily available with no pause in supply.
With the increase of dried cannabis, the cost to produce a marijuana plant is lower, though price is not necessarily the first concern as quality and quantity is the primary goal. To reliably keep dispensary's shelves stocked is of motive that is of great value to everyone.
Quality of extraction
This company is proud of the quality of their product. While trying different methods of extraction, they choose to stay with C02 as it offers an earlier separation process for cannabinoids. It also comes with an incredibly low risk, as butane and propane both posses a higher risk for safety. This new expansion is sure to get the ball rolling for in the edible market that is opening to enormous demands from consumers.
MediLabs have reported as much as 43.4 million in revenue in the third quarter, and those are some high numbers considering that was before the expansion amendment was released. Financially it looks like it will be a great year in the cannabis market. The company’s growth has the potential to have some impressive profits. This company is committed and determined to move forward globally, especially now with more them gearing up for more products very soon.
As far as clinical trials, MediPharm does not do any, but they do provide products that get accepted and used for clinical trials. Plus, they do their research on their products. With the new expansion, you never know what the future holds for a very successful company and the new areas they may add.
We're very interested to see how this will affect the stock market and the financials that go with that. As we step into 2020, the feeling is that it will be an outstanding year for the cannabis industry. So many things are coming into form that it's almost impossible to predict how fruitful it will be, or just how many more amendments will be approved in the future. MediPharm has their work cut out for them but they have nothing but pure confidence that they will be on top of their game in this coming year.