- CannaPharmaRx ( OTCPK:CPMD ) said it received Canada Revenue Agency (CRA) license which will enable it to start producing and selling cannabis.
- CannaPharmaRx noted that a company can start producing cannabis products after receiving licensing from both the CRA and Health Canada. In December 2022, CannaPharmaRx received its cultivation license from Health Canada.
- The company said that it is now authorized to grow cannabis and sell wholesale to other licensed producers in Canada.
- CannaPharmaRx expects completing the first harvest during the current quarter with estimated annual revenue over $30M.
- "The company is now preparing to grow its first two crops at the facility in Cremona. With a multi-million-dollar offtake agreement in negotiation and several strains of genetics for a variety of high-quality cannabis products the company is in position and prepared to enter the cannabis market," said CannaPharmaRx CEO Nick Colvin.
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CannaPharmaRx gets CRA license to start producing, selling cannabis in Canada