Established in 2015, this Canadian firm is one of the first to produce hemp-based products for pets worldwide.
The company is now focused on becoming a licensed producer and seller of medical cannabis, as it completes construction of its B.C. cultivation facility. Currently, the company has steady sales from its True Hemp products, but must now show it can compete against larger medical cannabis producers and also market medicinal marijuana for pets.
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TRUE LEAF MEDICINE INTERNATIONAL LTD., $0.49, symbol MJ on the Canadian Securities Exchange (Shares outstanding: 95.4 million; Market cap: $46.7 million; TSI Cannabis Quality Rating (CQR): ; www.trueleaf.com), was launched in July 2013 with the aim of becoming a licensed producer of medicinal cannabis for the Canadian market.
The Canadian Securities Exchange (CSE), formerly the Canadian National Stock Exchange (CNSX), is one of the country’s alternative stock exchanges.
True Leaf has two main operating units: True Leaf Medicine Inc. and True Leaf Pet Inc.
True Leaf Medicine Inc. believes it is in the final stages of approval—subject to a Health Canada inspection—for the production, manufacture, and distribution of medical cannabis products. It expects to complete construction this fall of its cultivation facility in Lumby, B.C. It then aims to have its licence to grow cannabis by the winter and a licence to sell cannabis in spring 2019. Again, both of those steps depend on Health Canada approval.
Established in 2015, True Leaf Pet is one of the first companies to market hemp-based products for pets worldwide. The company is initially marketing a line of hemp-seed based supplements for pets. For a cannabis plant to be defined as hemp, it must contain less than 0.3% THC.
Its True Hemp line of chews, dental sticks, and supplement oils are sold in more than 2,000 stores across North America and Europe. These include PetSmart Canada, Pet Supplies Plus US, PetsCorner UK, and Amazon. True Hemp products are aimed at providing calming support, promoting hip and joint health, and helping immune and heart functions.
In the three months ended June 30, 2018, True Leaf`s revenue rose 69.7%, to $491,334 from $289,494 a year earlier. The gains came from the True Hemp business, spurred by an expanded sales force. The company lost $897,209, or $0.01 a share, in the latest quarter, compared to a loss of $1.2 million, or $0.03.
The shares peaked at just over $1.90 a share in January 2018 and have moved down since. Revenues from the True Hemp products, gives the company some steady sales, but whether it can successfully sell new pet products containing cannabis is uncertain. The success of its plan to sell medicinal cannabis to humans will require low-cost production and other key factors needed to compete against larger, established producers.
The company does have some prominent board members. True Leaf is chaired by Mike Harcourt, the former premier of B.C. and mayor of Vancouver. Sylvain Toutant, the former CEO of DavidsTea and president of the Quebec liquor board, is also on the board.
True Leaf Medicine International Ltd. has a 3-Leaf Cannabis Quality Rating (CQR). The stock is a speculative buy, but only for aggressive investors who want exposure to the marijuana industry.
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