Sugarbud Obtains Health Canada's Sales License For Dried Cannabis
Canadian craft cannabis company Sugarbud Craft Growers Corp. (TSXV:SUGR) obtained Health Canada's approval to sell dried cannabis products.
The Calgary, Alberta-based company received an amended sales license that allows a direct sale of its product portfolio to provincial and territorial distributors, retailers, and registered medical patients.
The company noted Monday that less than 30% of all active approved license holders within the country possess this license.
Currently, Sugarbud products can be found in the province of Saskatchewan. Last month, the Subhard and its partner Agro-Greens Natural Products Ltd., jointly announced that the first shipment of the company's Craft Cannabis Collection of products for sale in the province begun.
John Kondrosky, the company's CEO, said that obtained sales license for dried cannabis is "yet another pivotal milestone" for them, adding that it "gives us the ability to take direct control of our own sales and marketing activities."
It also contributes to the expansion and distribution of their Craft Cannabis Dried Flower and Pre-Roll products into the other provinces, including Alberta and British Columbia, continued Kondrosky.
The receipt of Health Canada's approval is a "testament to our day-to-day operational readiness and unwavering commitment to compliance," added Kondrosky.
Meanwhile, the company has been ramping up its cultivation capacities in Alberta, by utilizing its $900,000 worth rights offering to holders of its common shares, it closed in December.
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