July 28, 2015 - 2:17 PM
TORONTO - Bedrocan Cannabis Corp. (TSXV:BED), the pot producer that has agreed to a buyout offer from Tweed Marijuana (TSXV:TWD), has received the green light from Health Canada to sell marijuana it has produced in Canada.
Bedrocan had relied on importing cannabis — up to a maximum of 240 kilograms per year — from its partner Bedrocan Beheer BV in the Netherlands.
The company says it has been growing six strains of cannabis at its new Canadian production facility since February, with eight harvests completed so far.
Bedrocan says it can now begin taking orders for its inventory.
The company says Health Canada has also approved eight more growing rooms at its facility in the Greater Toronto Area, bringing the number of its licensed production rooms to 26 out of 34.
Bedrocan says it will now be able to produce 3,000 kilograms of marijuana per year.
"We have now transitioned our business successfully and on schedule from our reliance on imported Bedrocan product to managing our own domestic production to meet the specific needs of our growing population of medical cannabis patients," Bedrocan's president and chief executive Marc Wayne said in a statement.
"We will now focus on expanding our marketing, medical outreach and education initiatives, emphasizing the value and advantages of our standardized, pharmaceutical grade medical cannabis products."
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News from © The Canadian Press, 2015