Indiva Readying for Growth in Cannabis Extracts and Derivatives
Extraction is set to take the cannabis industry in Canada to the next level. Why? Cannabis extraction derivatives such as cannabis oils, distillates, and other concentrates provide many different uses that appeal to a much wider consumer base than just smokeable or edible cannabis do. Extracts don’t need to be inhaled and offer more suitable options for both recreational and medical users. Add to this the saturation in the flower space which often makes it difficult for smaller licensed producers to compete toe-to-toe with the cannabis production giants, and you have a budding industry niche that is destined for big things.
Ontario LP, Indiva (CVE:NDVA) has taken notice and is going full steam ahead on providing high-quality cannabis extracts for a variety of different uses. Earlier this year, the company announced they were working with extraction experts at Lucid Lab Group to design and construct a new ethanol-based extraction operation facility. Now, Indiva has released a progress report for investors, stating that the design process is complete, and construction is about to begin.
The planned extraction facility is expected to pump out an annual biomass capacity of over 70 tonnes which will result in a distillate production capacity of over 4 million grams. The extraction project has a cost estimated at USD$1.4 million and is already fully funded. This extraction facility offers Indiva the autonomy to produce their own product lines while supplying the industry’s growing need for quality extracts. It also adds another substantial revenue stream to Indiva’s expanding business portfolio.
Subject to receipt of applicable regulatory approvals, Indiva is set to produce a wide variety of cannabis edible and derivative products. These include cannabis-infused edibles with Bhang Medicinal Chocolates and DeepCell, as well as their own oil capsules, vape pen cartridges and THC/CBD distillates for other third-party producers.
Indiva president and CEO, Niel Marotta is excited for the future of the company and the cannabis industry saying,
“Indiva’s plan to perform extraction on site in order to complement third-party extraction services is founded in our commitment to provide high-quality oils, concentrates and edibles to our patients and clients when permitted under Canadian law. We are delighted with the work Lucid Lab Group has completed, and the tremendous excess extraction capacity opens the door to several options to grow our revenue base and lower our unit costs. We will be ready to offer edible products once regulations allow LPs to do so, and this facility gives Indiva room to grow its business in London for years to come.”
Indiva has been positioning itself to become a ‘house of global cannabis brands’ that is synonymous with high-quality cannabis. Licensed under the Cannabis Act, Indiva’s wholly owned subsidiary will expand to offer safe, infused edibles and other consumer cannabis products. As per agreements, Indiva will be producing and distributing Ruby Cannabis Sugar, Sapphire Salt and Ruby Gems from DeepCell, alongside award-winning Bhang Medicinal Chocolates and other derivative products. Indiva is based in the Canadian cannabis market and aims to grow globally as new markets emerge for its cannabis products.
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