Pubdate: Fri, 11 Jul 2014
Source: Maple Ridge News (CN BC)
Copyright: 2014 Maple Ridge News
Contact:  http://www.mapleridgenews.com/
Details: http://www.mapinc.org/media/1328
Author: Monisha Martins
Page: 3

RIDGE MARIJUANA COMPANY HAS BIG PLANS

Will create a new line of pot-infused food and drinks for U.S.
market

A Maple Ridge marijuana company is going public with an injection of
cash from a venture capitalist.

Remo Cannabrands' half-million dollar partnership with Gold Finder
Explorations will see it expand from a home-based business to
10,000-sq.-ft. warehouse.

Remo Colasanti is the brain behind Remo Cannabrands, which sells
nutrients to legal marijuana producers but has plans to create a new
line of marijuana-infused edibles, beverages and tinctures.

"We've been making batches literally in our garage and can't keep up
with the demand for our nutrients," said Sandra Colasanti, Remo's wife.

These are heady times for those looking to cash in on marijuana's
growing acceptance.

Washington state and Colorado have legalized the recreational use of
pot for adults while medical marijuana is currently legal in Canada as
well as 18 U.S. states and Washington, D.C.

The Marijuana Business Factbook estimates that the retail marijuana
industry in the U.S. could see an estimated $7.4 to $8.2 billion in
sales by 2018.

Remo Colasanti has been growing medical-grade cannabis for almost 15
years.

He began producing episodes of "Urban Grower" on YouTube in 2006 to
share his expertise with other medical marijuana patients and has
since attracted a dedicated following, clocking more than 30 million
views on his two YouTube channels.

He has also won 13 awards in nine international cannabis competitions,
placing first in 2013 at Spannabis in Spain and second in 2012 at the
Cannabis Cup Awards in Amsterdam.

Remo Cannabrands intends to sell its line of nutrients worldwide but
will focus on the U.S. as a market for its edible products.

The nutrients will be produced in Maple Ridge while the infused edible
side of the business will be based in the U.S.

Sandra Colasanti said they decided to team up with Gold Finder
Explorations because current U.S. regulations around packaging,
labelling and testing make it hard for small "mom and pop" operations
to compete.

Companies such as Gold Finder, whose previous ventures included a
mine, are more accustomed to taking risks, she added.

Gold Finder CEO Neil Linder characterizes the legal marijuana industry
as "the biggest opportunity of our times."

"This is like prohibition coming off alcohol," said Linder, based in
Kelowna.

"The Kennedys, the Bronfmans, all the richest families in the world
made their money off rum running."

Currently, only two companies make up the majority of the marijuana
edibles market share in the U.S. Limited to operating in Colorado,
Linder says the companies have projected sales of $50 million in 2014.

"We have this opportunity because of the way marijuana is getting
legalized to become a brand in the edibles business without having to
face-off against multinationals."

Going public will allow Remo Cannabrands to raise money and buy
smaller companies already in the edible business as it expands into
the U.S. "Every big company in the world wants to get into this
business," said Linder.

"This is our opportunity in our generation which is why there is so
much money chasing the industry."

Remo Cannabrands will begin trading on the TSX Venture Exchange in 120
days.

Agrima still waiting on Health Canada licence

Almost a year after it set up shop in Maple Ridge, Agrima Botanicals
has yet to receive a licence from Health Canada to produce medical
marijuana commercially.

The federal agency has approved 13 commercial licences thus far but is
swamped under a deluge of applications as companies try to cash in the
predicted boom.

As of the end of June, it had received 858 applications.

Jordan Winnett with Agrima said the facility has been pre-approved and
is currently waiting for a site visit from Health Canada, which is the
final step in the process.

Health Canada's new regulation outlawing personal growing took effect
April 1, but a last-minute court reprieve has thrown a wrench into the
Conservative government's pot reform plans.

In March, Federal Court Judge Michael Manson granted a temporary
injunction allowing people with a personal production licence to
continue to grow medical pot, pending the outcome of a constitutional
challenge still to be heard.

"The process has been extremely slow since the March injunction, with
no company being approved for a few months now," said Winnett.

"But, we remain on course and ready to help patients and enter the
market when it's our time."
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MAP posted-by: Matt