Markham, Ontario-based MedReleaf’s (TSX: LEAF) stock jumped 16% by midday today to $16.00 on news that it received a sales license from Health Canada for its second facility, this one in Bradford, ON. This license increases MedReleaf’s total current licensed production and sales capacity by 80% to approximately 12,600 kg per year.
When construction of the Bradford Facility is completed in summer 2018, total licensed production and sales capacity from MedReleaf’s two facilities in Markham and Bradford will be 35,000 kg per year.
MedReleaf is one of the largest cannabis companies in operation as measured by its market cap at $1.24 b. The company received this 2nd sales license just 6 months after receiving its cultivation license at the Bradford facility, an impressive pace. The company has completed multiple harvests and is achieving yields of 300 grams per sq ft.
MedReleaf is the first and only ICH-GMP and ISO 9001 certified cannabis producer in North America.
Source: MedReleaf press release