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After its recent international expansion into the European medical cannabis market, Okanagan Cultivators (OC) has now set its eyes on further expanding its premium craft cannabis production in Canada itself. To this regard, they just concluded a new partnership with Joint Venture Craft Cannabis INC (JVCC), a licenced processor for the Government of Canada with an annual turnover of $50 million.
JVCC will now process all of OC’s future licenced cannabis production. The contract implies that OC will only have one client, through licenced processor JVCC to the Canadian Government, which will take everything they produce and resell it to the provinces and territories throughout Canada. This includes all future production from OC’s upcoming planned expansion that is set to increase its production by 320%. The expansion itself is highly anticipated by the industry because of OC’s unique cultivation process in laboratory-style grow rooms supervised by professional master growers of British Columbia.
JVCC’s CEO Ben Williams welcomed the landmark deal stating that “Okanagan Cultivators is poised to take advantage of a well-suited property, a strong business plan, and experienced personnel as they enter the legal recreational cannabis market in Canada. Joint Venture Craft Cannabis Inc is pleased to be associated with OC and we look forward to a mutually prosperous working relationship.”
Smaller brand craft companies like Okanagan Cultivators are becoming known as the high-quality product line for the craft cannabis industry as most producers cannot deliver the same level of quality product. Canada’s second-largest daily The Globe and Mail has previously termed the rise of these companies a “gold rush” and marijuana stocks saw a record rise of 95.56% in August this year.
This post was originally published on Downey Magazine