Okanagan Cultivators Signs Offtake Agreement, All Cannabis Production to Be Sold to the Government of Canada

0
548
Okanagan Cultivators Signs Offtake Agreement, All Cannabis Production to Be Sold to the Government of Canada
Okanagan Cultivators Signs Offtake Agreement, All Cannabis Production to Be Sold to the Government of Canada

Okanagan Cultivators is a trusted Brand with a premium organic product sets the bar for the top end of the premium market.

After its much awaited international expansion into the European 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 of the Government of Canada with an annual turnover of $750 million.

JVCC will now process all of OC’s production. The contract implies that OC will only have one client, the Canadian Government, which will take everything they produce and resell it to the provinces and territories throughout Canada. This includes all future produce 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 growers of British Columbia. OC’s organic medical cannabis strains are already one of the top sought after products in the market, and were recently featured at European Union’s International Fair of Cannabis and Medicinal Herbs or ‘Cannafest’ that was held in Prague. 

JVCC’s CEO 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 companies like Okanagan Cultivators are becoming known as the high-quality product line for the 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. 

Okanagan Cultivators contract with JVCC is reportedly worth $150 million annually and plan to increase that 3 fold in the next five years. With its expansion into Europe and it’s ongoing negotiations with the European Union Medical Association this company will be a leader in the cannabis industry.