SmallCapPower | February 2, 2018: The Hydropothecary Corporation (TSXV:THCX), a premium producer of cannabis focused on product innovation with ~20 medical cannabis products under four product lines (Decarb, H2, Time of Day and Elixir), announced recently the launch of its Elixir CBD Peppermint, Canada’s first CBD medical cannabis oil mist. In July 2017, Hydropothecary had launched Canada’s first legal medical THC sublingual mist, Elixir No. 1 (Elixir THC Peppermint) that has been popular among patients due its convenient usage. As with similar lines, the new Elixir CBD Peppermint provides patients with a convenient and easy way to consume CBD. Containing 50- 60 mg/ml of CBD and less than 4 mg/ml of THC, the product delivers therapeutic benefits of CBD to patients while minimizing the psychoactive effects of THC.
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Hart Steinfeld, Hydropothecary’s Community Engagement Manager for Western Canada, said, “There’s been a lot of interest in CBD from medical cannabis clinics and patients. Elixir CBD Peppermint features the highest concentration of CBD per ml currently available to medical cannabis patients.”
Available at the Hydropothecary’s online store, Elixir CBD Peppermint costs $89/15ml bottle, $20 higher than the Elixir THC Peppermint.
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In addition to product innovation, Hydropothecary has ambitious expansion plans that could make the Company among the top pot producers in Canada with a total capacity of 100,000 kgs per annum by the end of December 2018. Hydropothecary also boasts of one of industry's lowest costs, aided by its location in Quebec, which has low utility rates, reduction in hydro consumption due to natural sunlight growing, and centralized location. From about $1.79 per gram in 1Q17, cash costs decreased to $0.89 in 1Q18.
Hydropothecary recently raised $149.5 million in a bought deal equity financing at ?EUR
Hydropothecary currently trades at a market cap of $650.3 million, 160.2x its TTM sales of $4.1 million.
Disclosure: Neither the author nor his/her family own shares in the company mentioned above.
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