Sign up Australia
Proactive Investors - Run By Investors For Investors

The Hydroponics Company welcomes Canadian bill to legalise recreational cannabis

Canada will be the largest developed nation to legalise nationwide recreational use.
cannabis leaf
Bill passed by Canada’s senate

The Hydroponics Company Limited (ASX:THC) stands to gain from the C-45 Bill that has been passed by Canada’s senate on June 7 to legalise adult recreational use of cannabis in Canada.

The Cannabis Act is a milestone toward the end of prohibition of recreational cannabis in Canada and is expected to be an  important driver of growth for THC’s hydroponics division.

Canada will be the largest developed nation to legalise nationwide recreational use for adults over the age of 18.

While medicinal cannabis has been legal in Canada since 2001, the recreational market has remained very fragmented without an established legal framework.

Significant opportunity to grow revenue streams in Canada

THC chairman Steven Xu said: “A decision to legalise recreational use of cannabis will open up a significant opportunity for THC to augment our established revenue streams in Canada, where we supply +600 products, have nine trademarks for hydroponic equipment and growing mediums and plan to execute potential value- accretive acquisitions that will deliver substantial revenue growth for the company in the near term.”

READ: The Hydroponics Company acquires world-class biomanufacturing facility, shares up

The company recently acquired biomanufacturing facilities in Queensland, pushing THC to the forefront of the Australian medicinal cannabis industry.

The facility is one of the largest pharmaceutical botanicals extraction and refinement plants in the Southern Hemisphere.

Join our Crypto, Blockchain and Cannabis Telegram group here
View full THC profile View Profile

Hydroponics Company Ltd Timeline

Related Articles

DNA sequence
July 12 2018
The cell therapy specialist also reported there had been industry interest around its main programmes
1534822132_cadoux.jpg
August 21 2018
The company aims to revolutionise the HPA production process, eschewing the laborious bauxite-sourced method.
Graphic of person pointing to different parts of the body
May 14 2018
Paradigm’s share price has increased more than 60% in the last month and it was up more than 12% on Friday.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use