Bigger Space for Cultivating Medical Marijuana in Canada as IHMML Plans Purchase of 2 Cannabis Facilities With 700,000 Sq Ft of Grow Space
By Vittorio Hernandez | April 10, 2014 8:24 AM EST
Interest in the medical marijuana business continues to grow after two U.S. states and a few countries had legalised the trade. Also expected to expand as a result of that development is the physical space to legally cultivate cannabis.
Marijuana buds displayed for sale at a medical marijuana center in Denver. Reuters File
Reports said that IHMML, an over-the-counter penny stock company, is planning to purchase two facilities that would expand its medical pot growing area to almost 700,000 square feet. One would measure 393,000 sqft and the other 293,000 sqft.
In turn, Medican (MDCN), another Canadian medical marijuana company, is interested in acquiring a 50 per cent stake in IHMML, and posing a threat to Tweed (TWD), the first cannabis company to be publicly listed in Canada, since the 700,000 square feet grow area of IHMML would be four times the size of Tweed's operation.
Medican, IHL and Zenabis were recently approved for membership in the newly established Canadian National Medical Marijuana Association.
Tweed, after an impressive debut on Friday at the bourse and it became the third most traded stock in Canada, leveled off to $4.20, which Stockhouse writer Chris Parry found ironic since the digits 420 also commonly refers to marijuana.
However, one headache that Tweed and other Canadian cannabis growers would have to hurdle is the Royal Canadian Mounted Police confiscating their orders even if they have licences from Health Canada and had informed the RCMP of the arrival of the pot leaves via the Kelowna Airport.
To contact the editor, e-mail:
Most Popular Slideshows
- Still The World Champions: Team USA Overpowers Serbia, 129-92 To Win 2014 FIBA World Cup [PHOTOS]
- Pope Francis: World War III Has Started On Piecemeal
- After Win Over Maidana, Mayweather Says He Is Prepared To Negotiate A Fight With Pacquiao
- From Fat To Fit: Celebrities Who Were Overweight Before They Became The Beauties That They Are
Join the Conversation
- Pregnant Kate Middleton May Call Off Malta Trip Due To Sickness: Royal Couple Will Move To Anmer Hall Residence
- iPhone 6 Plus vs Xiaomi Mi4 – The iPhone Killer Certainly Can Battle Well With The New Apple Phablet
- Apple iOS 8 Can Trump Google Android 5.0 L Upon September 17 Release
- Ukraine Crisis: Poland Denies Supplying Weapons To Kiev
- Twitter Photo Of British Medical Muslima Student Holding Severed Head
- Google Nexus 8 Release Date Countdown Begins Oct 8: 8 Killer Specs and Features to Expect
- Malaysia Airlines Flight MF 370: Indonesian Police Chief Claims He Knows What Happened To Missing Jet