Marijuana, also referred to as marihuana or cannabis, has recently been legalized in Canada. Initially it was legalized for medical purposes but now it has been made legal for recreational use too. There are still some legislative hurdles to be cleared before the recreational marijuana market opens in Canada. The investors are overlooking better and bigger opportunity in the recreational marijuana industry. The annual marijuana consumption in Canada is 770,000 kilograms. Below are the best marijuana companies in Canada.
Canopy Growth is the first and biggest Marijuana grower company in Canada. It has various retail outlets throughout the country. It has secured supply agreement in five out of 10 provinces for recreational marijuana. Canopy Growth has 2.4 million square feet of growing space with a lot more on its way. The market cap of the company is reaching eight billion dollars. Canopy Growth sells its product under different names; the most recognized brand is Tweed.
Another best marijuana company in Canada is Aurora Cannabis which rivals Canopy Growth for highest spot in Canadian cannabis industry. Aurora has acquired MedReleaf Corp. for 2.5 billion dollars. Both Aurora and MedReleaf have firm brands in Canadian medical marijuana industry. Other than just producing dry marijuana, the company received license to sell marijuana oil too. Moreover, it is planning to hit the retail markets as marijuana has been legalized for recreational use. Aurora Cannabis has occupied 25% stake in Alcanna which runs 229 retail liquor store; it plans to open 50 retail marijuana stores too. It has almost 100,000 square feet of growing space so the high demand for recreational marijuana wouldn’t be an issue for Aurora. By the end of 2019, Aurora plans to produce 570,000 kilograms of marijuana. It has a market cap of approximately 2.92 billion dollars.
Aphria is not as big marijuana company as Canopy or Aurora but it ranks in the top Canadian marijuana growers. It has planned to launch a new brand for the recreational market instead of using the already existing brand; the company introduced Solie brand. The company declares itself as one of the lowest cost producers of marijuana. It produces marijuana at as low as CAD one per gram. It produces both dry marijuana and marijuana oil of variable strength and qualities. Earlier in May, Aphria signed a contract with Southern Glazer, the largest spirit and wine distributor in North America, as its exclusive distribution partner for recreational marijuana industry in Canada. By 2019, it is expected that the company would be able to produce 225,000 kilograms of marijuana.
The only licensed medical marijuana producer and distributor headquartered in Quebec is The Hydropothecary Corporation. They are committed to medical fineness through their growing techniques, quality assurance testing, process control and vigorous research. The company is going to launch its new brand, HEXO, for producing recreational marijuana. Over the last year, The Hydropothecary Corporation’s stock has raised by 203%. Currently, its market cap is $965.05 million.