Latest Updates on MMRP licensed medical marijuana producers in Canada
Two New Cannabis Cultivation Licenses Have Been Granted By Health Canada
February 21, 2016
Health Canada’s granted two new licenses to cultivate medical cannabis on Feb 18, 2016. The licensed were issued to Green Relief, based in Ontario, and THC Biomed (CSE:THC) (OTC:THCBF), based in British Columbia. This is the 28th and 29th license issued by Health Canada. The companies will now be permitted to cultivate but must go through product testing and final approval by Health Canada before they can sell to registered patients.
Back in December, the agency approved an additional facility for Mettrum (TSXV:MT) but these are the first new approvals since the KindCann license grant in August. These are the first licenses to be given since the Liberals took control of Parliament.
MMPR Licensed Producers and Health Canada Updates
The 2013 rules and regulation changes made by Health Canada regarding the production of medical marijuana has changed the landscape for growers and authorized licensed producers of marijuana in Canada. Under the old MMAR Marihuana Medical Access Regulations, individuals had the option to obtain a personal-use production license or buy from someone who was licensed for a designated-personal production license.
As a result of potential abuse, the government introduced the MMPR Marihuana for Medical Purposes Regulations in which a new commercial industry will be responsible for medical marijuana production. Under the new MMPR program, companies seeking to become a authorized licensed producer of marijuana in Canada, must apply and meet certain criteria outlined by Health Canada.
Any individual and corporation can apply for a commercial production license to grow marijuana for medical purposes. We have put together a great resource on applying For A Marijuana Producers License under MMPR. During the summer of 2014, there were over 800 application in with Health Canada to become an authorized licensed producer of marijuana. While the application process can be cumbersome, Health Canada initially stated that all applicants that meet their requirements have a fair chance of getting a license to produce marijuana for medical purposes. However, do to the large number of people interested in applying, we suspect they will be more selective and the screening process will become more stringent. In fact, many applicants already in the process may drop out or be rejected to become an authorized licensed producer of marijuana in Canada.
For investors looking at speculating in the medical marijuana industry in Canada, it may be a good idea of focus on the companies who already have a license to produce marijuana in Canada and have already been approved by Health Canada.
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Authorized Licensed Producers of Marijuana under MMPR
As of Feb 21, 2016, the following companies have been approved by Health Canada and are authorized to sell or produce medical marijuana to eligible persons under MMPR. The Health Canada website states they will continually update information on their list of authorized licensed producers of medical marijuana in Canada on a regular basis. If you are interested in learning more about these companies and other companies operating in the marijuana space, please visit our directory of marijuana related companies. At the moment their are 29 companies approved to be licensed producers.
Current Licensed producers of Marijuana in Canada are: