Tweed Marijuana Inc. or TMI is Canada’s first publicly traded medical marijuana company. Tweed announced July 8 that Health Canada is now allowing them to sell cannabis oils. Before then, only only flowers were permitted for sale under the Marihuana for Medical Purposes Regulations (MMPR). Tweed boasts two extravagant facilities in Ontario with dual licenses to grow and distribute marijuana. The company also educates and provides quality medication. Tweed promises to never run out of their core strains.
Mark Zekulin, President of Tweed, told Yahoo Finance “This is a natural sign of progression in the industry and a big step forward for patients seeking access to a variety of diverse products,” Zekulin added “Tweed has the largest growing facilities in the country, and is ready to move expeditiously to offer its customers a diverse line of oil extracts.”
Tweed already has the capabilities of extraction at their existing facilities. “We’ve led the industry with availability and selection of dried products and will continue to do so with cannabis oils,” explains Zekulin. “We’re pleased that Licensed Producers have been trusted by Health Canada to complete the extraction process. This is an important milestone for customer access.”
Also July 8, Tweed launched new strains, collection packs, the Loose Leaf product line, and their Flagship Strain Guarantee. Last month, Tweed announced the option to buy 600,000 shares of common stock at an exercise price of $1.92 per share. Market analysis last month showed Tweed’s average price per gram sold was $7.25 and $7.17 for three and fifteen-month periods ending March 31st. Also in June, Tweed acquired Bedrocan Canada(BED.V). Tweed Chairman and CEO Bruce Linton told Yahoo Finance “We will continue to develop and grow the Tweed and Bedrocan Canada brands, focusing on rapidly increasing market penetration for our full line of products. Over 5,000 existing customers will now benefit from having access to products from two producers. For future patients and physicians, the choice will be clear.”
Tweed is shaping the financial industry for multi-brand companies in the Canadian cannabis sector. Market analysts predict Tweed’s technologies, brands, and geographies will continue to expand in the future.