Source: Chris Parry, April 21, 2014

Private Health Canada medical marijuana license holder Bedrocan Canada is going public, the second permitted company to do so after Tweed (TSX:V.TWD, Stock Forum) stomped in to the market April 4.

Only 12 companies across Canada currently hold MMPR approval. Bedrocan has one grow facility that is expected to be producing mature plants by the end of the month. A second facility is “currently under development” according to CEO Marc Wayne.

Wayne is the former Business Director of the Canadian Consortium for the Investigation of Cannabinoids.

The current plan is for the group to engage in a reverse takeover rather than an IPO, and the company raised $4.4 million last week to make that happen soon.

Bedrocan BV received a license from the Netherlands government in 2005 to supply the entire Dutch medical marijuana market, and it currently exports to pharmacies across Europe, so its Canadian arm starts with a wealth of real world experience and knowledge that many in the Canadian MMJ space would be envious of.

The company has been selling Canadian patients product imported from its Netherlands-based facility through its website since February while their local operation nears harvest.

Wayne told the Lang and O’Leary Exchange on CBC earlier this month that “Bedrocan has an expert position so we were able to go forward and apply for a license and we were accepted because of that expertise.”

He continued, “A standardized product is necessary in the market and that’s what we provide. There are not many companies that have that expertise in the field.”

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