Canadian cannabis penny stocks company, Benchmark Botanics (CSE:BBT), has announced some news today!
The company’s subsidiary Potanicals Green Growers, Inc. has been issued a license to sell cannabis by Health Canada. As an approved ACMPR licensee, the company can now sell its produce. (It was granted a cultivation license in 2017.)
Cannabis Penny Stocks: Benchmark Botanics
Benchmark has been on a five-year journey to receive this license and the approval, in the words of the company’s CEO Zhang Johnson, is the “crowning milestone in [Benchmark’s] licensing journey.”
The company will now be able to “showcase its products to the global market, as well as, move to close the conversations that we have engaged in thus far with vendors in several countries.“
Potanicals will be selling dried cannabis as per the new license.
Who is Benchmark?
Benchmark Botanics is based in Vancouver, British Columbia. The company provides financing, partnership, and acquisition opportunities to licensed producers and ancillary businesses within the global cannabis industry.
Potanicals Green Growers is the company’s first acquisition. Potanicals is a relatively young brand which specializes in the growth and production of medical marijuana. It is currently yielding its first crop from its 12,700 square foot PHASE I indoor production facility.
But there are plans for expansion ahead, as Benchmark is pursuing additional sites for even bigger cultivation operations.
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The Stock
Unsurprisingly, the stock is seeing gains on the news. At the time of writing, BBT shares are up 3.57%.
Investors are keen on cannabis penny stocks right now and this news may be the catalyst traders have been waiting for. Selling equals revenue, and now that Potanicals has this license, Benchmark could start yielding results over the next many years from an industry expected to be worth $22 billion USD across North America.
Get ’em while they’re still hot!
Featured Image: Benchmarkbotanics.com
