EMH Missing from BCLDB List of Approved Cannabis Suppliers
To be a successful investor, you have to look one way when everyone else is looking the other way. Recently the British Columbia Liquor Distribution Branch (BCLDB) announced it first round of selections of Licensed Producers to supply cannabis to the provincial liquor stores when they open for business on October 17, 2018. What was missing?
First, let’s consider that the BCLDB has taken an enlightened approach to suppliers. Cannabis is more entrenched in the B.C. culture than in most other provinces and territories in Canada. So the province approved 31 licensed producers which is far more than any other province to date. B.C. will supply a targeted 150 different strains of cannabis for its wholesale inventory. This is far more suppliers and strains than any other Canadian jurisdiction so far by a long shot. The list included the usual suspects such as Canopy Growth, Aphria and Aurora. By the way, Canopy is now the only Licensed Producer to be selected by all provinces that have announced approved suppliers. Unlike other jurisdictions, however, B.C. also selected some smaller producers such as Whistler Medical Marijuana that is well known for producing a top quality product at a smaller scale. Twelve are B.C. growers and the rest are from across Canada.
So what’s wrong with this picture? We have included the thirty-one approved suppliers in the complete listing below and you will note Emerald Health Therapeutics is not on the list. EMH was one of our top recommendations last year when it ran from around $1.00 to almost $10.00 before slumping back. We advised readers to get out as the stock fell below $7.00 on the way down. EMH last closed at $2.57 per share down 12.6% to end the week. Companies are always quick to inform shareholders of positive news. We think EMH owes shareholders an explanation about this result.
Here is a complete list of the Licensed Producers approved by The B.C. Liquor Distribution Branch: Acreage Farms, Agrima Botanicals, Aphria, Aurora Cannabis, Bloomera, Broken Coast, Canna Farms, CannTrust, Canopy Growth, Cronos Group, DOJA Cannabis, Evergreen Medicinal, Experion Biotech, Hydropothecary, Maricann, MedReleaf, Natural Med, Redecan, Seven Oaks, Solace Health, Starseed Medicinal, THC BioMed, Flowr, Supreme Cannabis/7 Acres, Tilray, United Greeneries, UP Cannabis, WeGrow BC, WeedMD, Whistler Medical Marijuana and Zenabis.