Pure Sunfarms, the cannabis joint venture between that of Village Farms (TSX: VFF) (NASDAQ: VFF) and Emerald Health Therapeutics (TSXV: EMH) has finally seen its product shipped to the province of Alberta for the first time. The venture now has access to three of Canada’s four most populous provinces.
While Alberta accounts for only 12% of the countries population, thanks in part to a swift roll out of recreational cannabis retailers, the small population accounts for approximately 22% of retail cannabis sales across Canada. The province currently has over 400 recreational stores open, and has the highest per capita spend of cannabis within Canada’s most populous regions.
Pure Sunfarms’ product is anticipated to be available at retailers as early as next week.
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And that’s a good thing too, as the company’s products were some of the top selling products within the province of Ontario for the third quarter. The Pure Sunfarms brand was the top selling brand with the Ontario Cannabis Store in terms of both kilograms sold as well as dollars for the fourth quarter of 2019, with the brand commanding 13% market share within the province.
Village Farms last traded at $4.20 on the Nasdaq.
Information for this briefing was found via Sedar, Emerald Health Therapeutics, and Village Farms International. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
