Weekend Unlimited (CSE:POT) (OTCQB:WKULF) is forging ahead with its plans to become a multi-national player in the recreational cannabis market after notching several key advances over the last month.
In an update to shareholders Tuesday, CEO Paul Chu outlined some of the Vancouver cannabis company’s recent achievements.
High on the list is winning the coveted POT ticker on the Canadian Stock Exchange as well as the closing of the acquisition of R&D Pharma’s Jamaican operations.
The move into Jamaica, which covers the acquisition of 145 acres of cultivation property, will pave the way for Weekend to develop cannabis brands for Jamaica and international export. It will also allow the company to gain entry into Jamaica’s medical tourism market for cannabis.
Also on the roster of wins was the signing of a long-term distribution deal for Canna Candys, mixed fruity gummies containing hemp oil extract, which will be sold in the Northeast, Midwest and Southeast regions of the US to start.
Another coup was the licensing and grand opening on February 23 of Northern Lights Supply retail store in Alberta, a Weekend Unlimited subsidiary, which will serve as a launching pad for new products, educational programming and a platform for partnerships.
In other news, Weekend is also expanding into Oklahoma after acquiring vertically integrated operations in the town of Wilburton. The deal includes a seven-acre property with 20,000 feet of indoor facilities housing a nursery for cultivation as well as extract production. There is also space for a store that will be Weekend’s first in Oklahoma and Weekend’s Canna Candys brands will be produced and packaged there. Licenses have been won for cultivation, processing and transportation and an application is in place for a retail license.
READ: Weekend Unlimited moves into Oklahoma with proposed purchase of vertically integrated operations in Wilburton
Lastly, Weekend has also bolstered its management, with the addition of Clint Pyatt, director of revenue generation, Ese Roberts, director of operations, Karl Schmieder, director of business development, and Tom Wisniewski, vice-president for sales operations.
“This leadership team’s experience and understanding of our vision is being put into action immediately to establish and scale best-in-class operations and distribution, creating strong revenue trajectories as the company launches its own consumer packaged brands, with hemp oil extract products being a primary focus throughout the US,” concluded Chu in a statement.
Contact Ellen Kelleher at [email protected]