From insiderfinancial.com link to article by Alex Carlson, April 2, 2019
MJardin Group Inc (OTCMKTS: MJARF) is the latest Canadian cannabis player to hit the OTC Markets. Mjardin Group started trading on the OTC Markets back in January on the OTCQX under the symbol MJARF. As we at Insider Financial take a closer look at Mjardin, there’s a lot we like with the company and the stock.
MJARF Daily Chart
MJardin Group background
MJardin is a global cannabis management platform with extensive experience in cultivation, processing, distribution, and retail. For over 10 years, MJardin has refined cultivation methodologies, developed state of the art facilities and implemented vertical integration for and on behalf of license owners. As a well-capitalized organization, MJardin continues to pursue strategic expansion and M&A opportunities across global legal cannabis markets. MJardin is based in Denver, Colorado, with offices in Toronto, Canada and Barcelona, Spain. For more information, investors can check out www.mjardin.com.
Prior to trading on the OTC Markets, investors could only buy Mjardin Group on the CSE under the symbol MJAR. Jason Paltrowitz, Director of OTC Markets Group International Ltd. and EVP of Corporate Services at OTC Markets Group, said:
“MJardin joins the OTCQX Best Market, trading alongside cannabis companies that are innovators in the industry. Cross-trading on OTCQX provides MJardin’s U.S. investors with greater access to the company’s financials, news, and research reports. We look forward to supporting MJardin as it expands its footprint in the U.S.”
Ability to trade on OTCQX generally leads to improved market liquidity and broader public awareness. Rishi Gautam, Chairman and Chief Executive Officer of Mjardin Group, said:
“We are pleased to announce our upgrade to the OTCQX Best Market as we believe it will lead to improved liquidity, increased exposure to institutional and other accredited investors in the U.S., and a broadened shareholder base. MJardin is well positioned and capitalized to execute on our global growth strategy as we continue to acquire, own and operate strategic cannabis assets across cultivation, processing, and retail. We look forward to updating our shareholders on our continued progress and we are excited to increase the visibility and understanding of our unique business model and growth strategy among the U.S. investment community.”
WILL – Licensed for Cultivation and Sales – located in Brampton, Ontario, the 32,800 square foot facility has a current production capacity of 3,000 kg per year, which is expected to be in full production starting in the second half of 2019. The Company has commenced selling Flower to other Licensed Producers from this facility.
WARMAN – Pending Cultivation, Sales and Extraction Licensing located in Winnipeg, Manitoba, this is MJardin’s largest facility at 120,000 square feet, with 13,900 kg per year of production capacity. The Company is currently seeking a cultivation license and will soon begin growing operations in this facility with the expectation to have its cultivation license by the end of September 2019. The Company expects construction to be completed and for the facility to be fully licensed for sales and extraction by June 2020.
AMI (Phase 1 and 2) – Licensed for Cultivation – located in Halifax, Nova Scotia, AMI is a licensed joint venture cultivator with a 48,000 square foot facility with an additional 20,000 square feet for phase 2 anticipated by the end of 2019, with a production capacity of 6,300 kg per year. AMI is also pursuing its GMP certification for Phase 1, anticipated for the second half of 2019.
RAMA – Pursuing Cultivation, Sales and Extraction Licensing – located in Rama, Ontario, this facility is a joint venture between MJardin and Rama First Nation which will bring large-scale cannabis cultivation, extraction, and retail to Rama, Ontario and the surrounding region. The partnership’s first major project is in the planning and development stage for the construction of a 75,000 square foot cannabis production facility with 9,000 kg per year of production capacity.
GRAND RIVER ORGANICS – Finalizing Construction and Application for Cultivation License – located in Dunnville, Ontario, Grand River Organics is a majority-owned cultivator with a facility size of 10,800 square feet, and annual production capacity of 1,200 kg per year. The facility is in final stages of construction, with anticipated completion in Q1/19 and anticipated receipt of its cultivation license in late Q1/19.
CHEYENNE – Licensed for Cultivation and Sales – located in Las Vegas, Nevada is currently operational with full build-out expected by the first half of 2020. At full capacity, the 30,000 square foot facility will be able to produce approximately 6,000 kg per year of annual production.
Currently trading with a market cap of $198 million, MJARF has a lot of assets with big potential. After a recent management shake-up, shareholders are looking for the company to finish its construction projects and start bringing in substantial revenues. The company has a wide footprint. We just need to see management execute. It’s not enough to be trading on the OTC Markets, sales and profits are needed to keep the momentum going. Considering the volatility the stock has received since trading on the OTC Markets, investors are looking for more updates on how management will deliver.
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