Bedrocan, Canada’s second licensed medical cannabis cultivation company, is set to go public on Monday, August 25, 2014, offering investors an alternative to Tweed Marijuana Inc. in the budding market.
The company has received an approval to list, under the ticker symbol “BED”, on the Toronto Venture Exchange and will do so in a reverse takeover.
Bedrocan is a licensing partner of long-time Dutch medical marijuana producer Bedrocan BV, which currently supplies the Canadian company’s product.
The Toronto-based Bedrocan is building out a 52,000-square-foot marijuana growing facility in the Greater Toronto area that it expects to complete by the end of the year. It has 1,100 registered patients across the country.
“We will be ready to start cultivating by the end of the year, and we will have the product ready for sale by early second quarter of next year,” said Chief Executive Marc Wayne. The company was valued at around $57 million at the time of its most recent financing, he added.
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