Canada is one of the few countries that legalized marijuana both for medical and recreational purposes. Canada’s medical marijuana law has created an exciting investment opportunity. One of the companies that jumped into the Canada cannabis market is Mettrum Health Corp. It has a rough beginning. Things didn’t go well when it set up its first cannabis facility. Eventually, it has found its new location, obtained a license, and successfully developed a distinct branding system – Mettrum Spectrum. George Scorsis helped lead the way in their development, enabling Mettrum Health to go to the next level. Mr. Scorsis also did similar work for Liberty Health Sciences which helped them to drive into new markets and become a leader in their industry.
Mettrum Health Corp company details
Mettrum Health Corp is a medical cannabis company based in Toronto, Canada. It has the license to produce medical cannabis under the Marihuana for Medical Purposes Regulations according to the Controlled Drugs and Substances Act. Currently, Mettrum Health Corp has three licensed production facilities with a total of 85,000 square feet. The annual production capacity is about 12,000 kilograms. The company received its first license on November 1, 2013, from Health Canada under the Marihuana for Medical Purposes Regulations (MMPR). It began its very first medical cannabis production at its first facility in Bowmanville, Ontario.
Mettrum Health Corp’s Financial Strength
Mettrum Health Corp’s shares are trading at $2.30/share. It is the result of the strong surge in a couple of weeks. The trading range over the past 52 weeks is between $1.05 and $2.47. The average share volume is 26185. The market capitalization is around 90.99 million, and the outstanding share is around 40.25m.
The company has a strong start this year as its critical operational and financial metrics continue to move in the right direction. Mettrum now has a broad client base, top-notch products, and financial strength. Mettrum and its leaders are doing the best they can to ensure that the company will continue to prosper for the years to come. It focuses on growth, profitability, and delivering shareholder value. It has a strong cash position, which is the reason why the company continues to invest in growth opportunities. Mettrum’s balance sheet is $12.1 million net cash.
Mettrum Health Corp ahs acquired a medical cannabis clinic network. It has successfully acquired the outstanding shares of BodyStream. It is a network of medical cannabis clinics with several locations across Ontario, 14 places to be exact. The company has paid $1 million in cash and 451,596 Mettrum shares to BodyStream’s current shareholders. On top of that, Mettrum Health Corp will also issue a maximum of 1, 505,322 additional shares for a period of three to five years as per BodyStream operational milestones.
The acquisition has led to the expansion of Mettrum’s clinic across the Greater Ontario Region. The purchase is an excellent move as it complements Mettrum’s previous acquisition of Apollo Applied Research Inc., which is a referral-focused cannabis research clinic.
Mettrum Health Corp has been successful in building its name in the medical cannabis business. It secured a total of three licenses to produce and sell medical cannabis under the Access to Cannabis for Medical Purposes Regulations. Mettrum is also the licensed producer and distributor of industrial cannabis products through its own subsidiary Mettrum Hempworks.