A few pot players looking to set themselves apart and come out on top
Here’s a breakdown of some of the biggest stocks and how they plan to join the list of winners:
Tilray Inc.
Traded on: Nasdaq Market value: $13.6 billion (U.S.) Q3 stock performance: +745 per cent from July 18 IPO Provincial supply agreements: Eight provinces and territories
Growing capacity: Total production space across all facilities worldwide expected to reach 912,000 square feet by end of 2018
Cost: $3.33 per gram sold in the quarter ended June 30 International presence: Australia, New Zealand, U.K., Germany, among others
Medical research: First Canadian company to receive approval to import cannabis into U.S. for medical research; conducting clinical trials on the benefits of medical cannabis to treat essential tremor, PTSD, chemoinduced nausea and Dravet syndrome Distinguishing factor: Has an agreement to develop medical cannabis with Sandoz, the Canadian division of Novartis AG.
Canopy Growth Corp.
Traded on: Toronto Stock Exchange, New York Stock Exchange Market value: $14.9 billion (Canadian) Q3 stock performance: +65 per cent Provincial supply agreements: Secured an estimated 36 per cent of total Canadian supply committed to date, with annualized delivery requirements of about 70,000 kilograms
Growing capacity: 4.3 million square feet of licensed growing space
Cost: not reported
International presence: Germany, Chile, Colombia, Denmark, Brazil and others
Medical research: Canopy has filed over 80 patent applications covering cannabis processing technology, beverage technology and human and animal medical treatments
Distinguishing factor: Constellation Brands Inc.’s $5 billion investment in Canopy set off a flurry of speculation about who would be next, and has helped legitimize the industry
Aurora Cannabis Inc.
Traded on: Toronto Stock Exchange, with a planned listing on the New York Stock Exchange by the end of October Market cap: $13 billion Q3 stock performance: +33 per cent Provincial supply agreements: Consumer brands sold by Aurora, its subsidiaries and strategic partners will be available in 11 provinces and territories representing more than 98 per cent of the Canadian population
Growing capacity: More than 500,000 kilograms a year of funded production capacity
Cash cost of sales: $1.87 per gram of dried cannabis in Q4 International presence: 18 countries on five continents
Medical research: Examining the therapeutic impact of cannabidiol in collaboration with McGill University; working with the Canadian Football League Alumni Association to study the benefits of cannabis in treating chronic pain
Distinguishing factor: Aurora has been on an acquisition spree, buying at least 10 companies in the past two years; has a 25 per cent stake in Alberta liquor retailer Alcanna Inc., which will begin selling cannabis on Oct. 17
Aphria Inc.
Traded on: Toronto Stock Exchange Market cap: $4.7 billion Q3 stock performance: +52 per cent Provincial supply agreements: All 10 provinces and the Yukon
Growing capacity: Expected to reach an annual production capability of 255,000 kilograms by early 2019 Cost per gram: As of May 31, cash cost to produce dried cannabis per gram was $0.95 and all-in cost of goods sold per gram was $1.60
International presence: Australia, Germany, Italy, others
Medical research: Through its Argentina-based subsidiary, Aphria has partnered with a pediatric hospital for a clinical study focused on treating refractory epilepsy in children; Aphria is also producing and supplying high-yield cannabis extracts for Australia’s Medlab to be used in a human trial to test pain management.
Distinguishing factor: Wholesale agreement to supply Emblem Cannabis Corp. with 175,000 kilograms of cannabis over five years, providing nearterm revenue certainty; reportedly in talks with Altria Group Inc. about a possible stake sale.