It’s the biggest prize of all in the medical marijuana business.
Billions of dollars worth of business awaits early-market entrants that can pioneer proven medicinal formulas from cannabis.
The Toronto-based investment bank just undertook a $12 million equity financing that was so oversubscribed it soon became a $13.8 million financing.
According to Dundee Capital cannabis analyst Daniel Pearlstein, Emerald Health has the right pedigree to become a front runner in the quest to innovate the planet’s next cannabis-based “blockbuster drug”.
“Emerald is uniquely positioned as one of a few solely biotech-focused growers,” Pearlstein says in a research report on the company.
“We believe Emerald’s experience in biotechnology provides the company with the skill-set needed to develop and bring alternative medical products to the market.”…
However, this is not your stereotypical pot play that’s all about scaling-up as quickly as possible to prepare for a looming legal recreational market. Most of the company’s focus is incubator-level R&D geared to turning cannabis into pain and sleep medications.
That said, Emerald Health isn’t going to pass up on the low-hanging fruit in the form of a multi-billion dollar recreational market.
If all goes according to plan, the company intends to scale-up its output over the next couple of years to as much as 100,000 square feet of growing capacity.
This translates into projected annual sales of around $50 million.
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