Pure Sunfarms, a JV of Emerald Health Therapeutics Inc (OTCMKTS:EMHTF), received the approval of SLGA (Saskatchewan Liquor and Gaming Authority) for its packaged and branded dried flower products. The company commenced the shipment of dried flower products to Saskatchewan.
Consumers get access to dried flowers
Saskatchewan, the fifth largest province in Canada, accounts for 6% of cannabis sales nationwide. The open market model for cannabis in this province will be introduced in this province by September. SLGA removes the cap on licensed retailers count in Saskatchewan and allows consumers access to dried flower products.
CEO and President of Pure Sunfarms, Mandesh Dosanjh, said the company is pleased to enter the market in Saskatchewan following the success in Alberta, Ontario, and British Colombia. The company will offer its superior quality products at affordable rates to more Canadians, given a growing network of retailers in Saskatchewan.
Expansion of retail stores to promote growth
CEO of Emerald, Riaz Bandali, said the company will expand its retail stores soon in provinces like Ontario and Saskatchewan to strengthen its growth. He further said the introduction of innovative products and expanding to new markets demonstrates its leadership in the cannabis industry.
MLLC approves Pure Sunfarms for adult-use cannabis supply
Manitoba Liquor and Lotteries Corporation selected MLLC (Manitoba Liquor and Lotteries Corporation) as an official supplier to provide adult-use cannabis products to licensed retailers in Manitoba. The company expects to commence the delivery of branded products soon.
New products
Pure Sunfarms is in discussions to ensure the supply of cannabis products to distributors in other provinces across Canada. Its new product launches in Ontario include new strains – High THC Pink Kush, and D. Bubba, Afghan Kush Pre-rolls, dried cannabis pre-rolls, 7-gram White Rhino, 28-gram Hybrid, and 7 gram Island Honey. Pure Sunfarms will introduce cannabis 2.0 products that consist of pre-filled 510 vape cartridges and bottled cannabis oils under its brand in the summer.
Credit facility
Pure Sunfarms enhanced its credit facility to the full CAD 59 million capacity. The lending syndicate for this credit facility includes CIBC, Farm Credit Canada, and the Bank of Montreal.
Its new credit facility comprises an existing loan of CAD 19 million, a term loan of CAD 25 million, and a revolving operating loan of CAD 15 million. The company will use the term loan for Delta Greenhouse on 1.1 million Sq. Ft.
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