Enertopia Corp. [OTC: ENRT], an aspiring licensed producer of medical marijuana under Canada’s MMPR program and provider of health and wellness products, recently announced that it closed the final tranche of C$35,400 associated with its private placement. With the financing in hand, management looks forward to executing on its plans in both the wellness and cannabis industries.
In early February, the company announced the launch of a new product line for women’s sexual health called V-Love™. The so-called “desire gel” is available for sale in Canada and will eventually be sold in the U.S. With the uncertainty surrounding Canada’s MMPR program, the move could have generate near-term revenue as the company awaits Health Canada’s final MMPR approval.
The company plans to launch additional products that are infused with CBDs – the non-psychoactive component of marijuana – in the United States. If the company is approved to grow marijuana in Canada, management anticipates using their knowledge and raw materials to manufacture these CBD-infused products in a vertically integrated and potentially very profitable business.
In the meantime, the company is awaiting final decisions from Health Canada regarding its Burlington joint venture with Lexaria Corp. [OTC: LXRP] and its Green Canvas project. Both of these projects are in the later stages of the approval process, but have been delayed due to Health Canada’s relatively slow review and response rate with the burgeoning new industry.
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