Lotus Ventures Receives License To Produce, Sell, Distribute Cannabis To Provincial Canadian Distributors

Canada-based cannabis producer Lotus Ventures Inc. J LTTSF LV has received its Standard Processing license.

This means the company is now authorized to possess, produce and sell cannabis directly to provincial distributors in Canada. Before this permit, Lotus could only sell cannabis on a business-to-business wholesale basis or directly to registered medical patients.

“This is an exciting milestone for our shareholders and a major step forward for the Company and our consumers. We have delivered on our strategic objectives as a wholesale company by consistently producing premium cannabis profitably. Our unique Kalifornia cultivar has established a proven demand in key markets such as Ontario and Alberta, and we look forward to increasing our direct sales nationwide by offering new and exclusive products from our seed bank of over 200 high-quality cultivars,” said Lotus CEO, Dale McClanaghan.

According to a press release, the company plans to utilize the processing license to initially offer Lotus Cannabis Co. branded Kalifornia pre-rolls. The processing license also provides Lotus with the ability to sell additional classes of cannabis such as extracts, concentrates and edibles. Management said it does not intend to offer these products in the near term but will keep these channels open for future product launches.

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