Despite having over 140 licensed producers, processors, and sellers already, Canada is experiencing a shortage in cannabis supply. The Ontario Cannabis Store ran out of seeds almost immediately after they were made available, and Canada’s Office of the Parliamentary Budget Officer estimates that Canada’s cannabis consumption is still far larger than the legal supply. Not only does this phenomenon drive up prices, but this shortage also incentivizes existing producers to forgo quality in pursuit of higher quantity.
The decline in quality hurts medical patients, annoys recreational consumers, and fuels the black market. Because of this imbalance in supply versus demand, Health Canada is expected to approve even more producers in 2019. One of the applicants hoping to be approved is Medical Marihuana Patient Relief.
Medical Marihuana Patient Relief Inc.
Incorporated in early 2014, Medical Marihuana Patient Relief Inc. is a self-described “endstage ACMPR applicant with exclusive access to technology to bring high-quality cannabis to market more rapidly.”
Co-founder Denis Buj is a former lab technician and grower under Dr. D. T. Pillay, Dean of Microbiology at the University of Windsor. The other co-founder, Alex Ciotoli is a successful serial entrepreneur who is passionate about the power of medical cannabis to improve the lives of many Canadians due to his own first-hand experience with medical marijuana’s benefits.
Back in November, given Medical Marihuana Patient Relief’s focus on cannabis quality, the late-stage applicant signed a collaborative deal with Cannvas MedTech Inc. (CSE:MTEC) (OTC:CANVF) (FRA:3CM) to widen the availability of cannabis information and education.
Medical Marihuana Patient Relief’s current facility is situated in a newly renovated, stand-alone, 7240 sq. ft. building on an existing, specifically zoned, industrial site, and its security measures are state-of-the-art. With plans to expand going forward, Medical Marihuana Patient Relief intends to leverage its experienced team as well as its positioning as the first-to-market L.P. in Canada that uses Spinner XP technology for shorter time-to-harvest and higher yields.
The MMPR Offering
Through FrontFundr, an exempt market dealer in Canada, Medical Marihuana Patient Relief Inc. seeks to raise a minimum of $250,000 CAD and a maximum of $4,000,000 CAD at a price of $1 per common share. The minimum investment to get started is $1,000 CAD, but you must be accredited to get involved. At a $10 million CAD valuation, Medical Marihuana Patient Relief Inc. may be an undervalued play on Canada’s cannabis shortage.
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