- BevCanna Enterprises (CSE:BEV) has revealed a range of strategic objectives for 2020
- The company is looking to become Canada’s largest outdoor cannabis cultivator
- BevCanna also hopes to commercialize its portfolio of brands and commence white-label beverage production
- A marketing and investor relations agreement has also been entered into with Aktiencheck.de AG
- Shares in BevCanna are currently up 7.5 per cent to C$0.43, with a market cap of C$20.11 million
BevCanna Enterprises (CSE:BEV) has revealed a variety of strategic objectives for 2020.
At the top, and perhaps most ambitiously, is the company’s plan to become Canada’s largest outdoor cannabis cultivator.
It’s 292-acre farm is based in the Southern Okanagan region of British Columbia, and has been compared to the prime growing region of Humboldt County in California.
Production costs have been estimated at one-seventh the cost of indoor and greenhouse growing, with an expected output of 400,000 to 500,000 lbs each year.
The presence of real direct sunlight will also offer a broader and more intense spectrum of light, improving flavour profiles and enhancing the plants’ genetic potential.
BevCanna is also looking to commercialise its house brands, Anarchist Mountain and Grüv Beverages.
Both brands offer a range of flavoured beverages, each containing specific amounts of THC.
The products are expected to be with US retailers by the third quarter of this year, while Canadian retailers will see them in the fourth.
To complement its own products, BevCanna also announced its plans for white-label beverage production.
With strict regulatory barriers to overcome, many companies have taken to outsourcing production of a complete product ready for sale.
Beverages are at the core of BevCanna’s expertise, and its manufacturing facility has been flexibly designed to accomodate a variety of bottle sizes and form factors.
“2020 is the year of execution for BevCanna and our strategic partners,” the company’s Chief Strategy Officer, John Campbell, said.
“We’ve built a solid foundation across businesses and we are now ready to turn the corner to begin commercializing our operations and generating substantial revenue.”
BevCanna also announced a marketing and investor relations agreement with Aktiencheck.de AG dated February 17, 2020.
The agreement has a term of only one month, with a total of approximately C$72,000 cash paid on closing of the deal.
Shares in BevCanna are currently up 7.5 per cent to $0.43, with a market cap of $20.11 million at 2:16 pm EST.