Tuesday's session saw the share price of Tweed Marijuana Inc. (CVE:TWD), (OTCMKTS:TWMJF) climb further. TWD stopped another another 5.5% up by the closing bell on 130 thousand shares traded.[BANNER]
The company is among the few state-licensed marijuana producers in Canada, landing a spot among the twelve entities that were certified by Health Canada under the MMPR. The company owns a 168 thousand square feet indoor facility. TWD augmented its potential output by acquiring another entity currently in line for a Health Canada MMPR license. The acquired company has a 350 thousand square feet greenhouse facility.
The most recent PR announcement published by the company informs that TWD expanded its list of available marijuana strains adding Norfolk and Buddy to its online shop's currently limited inventory. In August and September the company expects to put eighteen extra varieties up for sale.
TWD has not published marijuana revenues just yet, with its first order of medical marijuana shipping from its Smiths Falls facility this May. Still, the company is sitting on a very comfortable cash reserve of C$7.7 million.
How successful the enterprise is going to be in the longer term remains to be seen. At the very least the company has secured a spot among the first few licensees with Health Canada, which should serve as a head start in the great pot race. The next report of TWD is due very soon and it should cast more light on just how well things are going for the company.