Cannara Biotech
Script error: No such module "Draft topics".
Script error: No such module "AfC topic".
| Traded as | OTCQB: LOVFF FWB: 8CB |
|---|---|
| ISIN | 🆔 |
| Industry | Cannabis |
| Founded 📆 | February 21, 2018 |
| Founder 👔 | |
| Headquarters 🏙️ | Quebec |
Area served 🗺️ | |
Key people | Zohar Krivorot, CEO, Nicholas Sosiak, CFO, Avi Krivorot, CTO |
| Products 📟 | Dried Cannabis Flower, Cannabis Prerolls, Live Resin Full Spectrum Extract, Live Resin Vape Carts, Cannabis Oils, Old School Hash, Ice Water Hash, Fresh Frozen Hash Rosin, Blunts |
| Brands | Tribal, Nugz and Orchid CBD |
| Members | |
Number of employees | |
| 🌐 Website | [Lua error in Module:WikidataIB at line 665: attempt to index field 'wikibase' (a nil value). ] |
| 📇 Address | |
| 📞 telephone | |
Cannara Biotech Inc. is a large scale producer of premium‐grade cannabis and cannabis‐derivative products for the Quebec and Canadian markets. Cannara delivers premium quality “AAAA” products at affordable pricing.[1] Leveraging on the province low electricity costs, Cannara owns two mega facilities based in Québec spanning over 1,650,000 sq. ft., providing the company with 125,000kg of potential annualized cultivation output. Cannara operates through its wholly owned subsidiaries, Cannara Biotech (Quebec) Inc. and Cannara Biotech (Valleyfield) Inc., both holding active licenses issued by Health Canada under the Cannabis Act.[2][3] It is a publicly traded company on the TSX Venture Exchange.
History[edit]
Cannara Biotech was incorporated under the laws of British Columbia on October 19, 2017 and is currently listed and publicly traded on the TSX Venture Exchange (“TSXV”)[4] under the symbol “LOVE.V”, the OTCQB under the symbol “LOVFF” and the Frankfurt Stock Exchange under the symbol “8CB”. The Company’s headquarters is located in Montreal, Quebec.
Cannara Biotech was founded by CEO Zohar Krivorot in February 2018 with the purchase of its first 625,000 sq. ft. indoor grow facility in 2018, located in Farnham, Quebec. The Farnham facility now provides 170,000 sq. ft. of cannabis operation, fully automated with biomonitoring sensors in every grow room to ensure optimal conditions and increased plant yield. Due to high consumer demand, a second facility located in Valleyfield Quebec was purchased in 2021 from The Green Organic Dutchman for $27 million. The Valleyfield facility consists of 24 independent growing zones totaling 600,000 square feet, a 225,000 square feet cannabis 2.0 processing center and a 200,000 square feet rooftop greenhouse.[5] To ensure consistent, premium quality, each grow zone of Valleyfield is activated only once redesigned for indoor growth. As of July 2022, 6 out of 24 grow zones have been activated to meet current consumer demand.[6][7]
In 2019, Nicholas Sosiak joined the executive leadership team as Vice President of Finance, later to become CFO, and assisted the company to go public in addition to building the Cannara's genetic library, brand and product portfolio and its sales distribution channels. In 2021, Avi Krivorot joined the executive leadership team as CTO and plays a significant role in developing and maintain the various IT and automated controls used throughout each facility.[8]
In June 2022, Cannara Biotech closed a $50 million credit facility led by Bank of Montreal. Cannara Biotech currently distributes cannabis products for retail sale in the Canadian provinces of Quebec, Ontario, British Columbia and Saskatchewan. In addition, the company is actively seeking to expand into British Columbia and Alberta.[9]
Current executive leadership team of Cannara Biotech includes Zohar Krivorot, Chairman & CEO, Nicholas Sosiak, CFO, and Avi Krivorot, CTO.[10]
Sources[edit]
- ↑ Advertisement (2022-03-14). "How Cannara Biotech is dominating the new wave of cannabis cultivation". Financial Post. Retrieved 2022-07-23.
- ↑ "BMO Commercial Banking Leads $50MM Credit Facility for Cannara Biotech - News | ABL Advisor". www.abladvisor.com. Retrieved 2022-07-23.
- ↑ facility, World-class lighting set up at Cannara’s Farnham; Quebec; Media, Market One. "Top 5 reasons why Canadian investors should capitalize on Cannara - BNN Bloomberg". BNN. Retrieved 2022-07-23.
- ↑ "Cannara Biotech Secures Conditional Approval to List on the TSX Exchange". Green Stock News. 2021-03-11. Retrieved 2022-07-23.
- ↑ "Cannara Biotech Inc. Receives Amendment of its Licence from Health Canada Permitting the Sale of Cannabis 2.0 Products and Prepares for the Launch of its Hash Product Line in Quebec". finance.yahoo.com. Retrieved 2022-07-23.
- ↑ "Canadian Cannabis Stocks Drop 5.5% in November". New Cannabis Ventures. Retrieved 2022-07-23.
- ↑ "Cannara Biotech launches three flagship brands for retail - Grow OpportunityGrow Opportunity". 2021-02-25. Retrieved 2022-07-23.
- ↑ "Cannara Biotech Reports First Quarter Results". Technical420. 2019-01-29. Retrieved 2022-07-23.
- ↑ "BMO Commercial Banking Leads $50MM Credit Facility for Cannara Biotech - News | ABL Advisor". www.abladvisor.com. Retrieved 2022-07-23.
- ↑ "BMO Commercial Banking Leads $50MM Credit Facility for Cannara Biotech - News | ABL Advisor". www.abladvisor.com. Retrieved 2022-07-23.
This article "Cannara Biotech" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Cannara Biotech. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
