7 ASX pot-stocks leveraged to buzzing Canadian market
By Zoe Gross.
Published at Oct 19, 2018, in The 420 Report
This week marked a pivotal new high for Canada, and for the budding legalised pot space more broadly. On Wednesday, it became the second country in the world, and the first industrialised nation, to legalise recreational weed.
Canadian pot could blossom into a market worth C$7.2 billion in total sales as soon as 2019, according to Deloitte’s 2018 cannabis report.
While it could be a long time before these kinds of profound legislative changes hit Australia – where the nascent pot movement is far more gradual — there are plenty of gains to be had for ASX cannabis investors.
Here are seven ASX pot-stocks with exposure to the buzzing Canadian market.
2 - Roto-Gro International (ASX:RGI)
Market cap: $48.38M
Current share price: $0.48
Sector: Ag-tech, hydroponics
Roto-Gro is hoping to redefine the future of agriculture through innovation in cannabis technology. Its mission is to generate socially responsible, sustainable and profitable revenue by growing cannabis and perishable foods using its cutting-edge tech solutions, while maintaining the environment impact of traditional farming.
RGI’s approach is holistic, providing streamlined solutions from concept to harvest, integrating both design and growing expertise. It’s strategically focused on the thriving Canadian and US weed markets.
Its first tech offering is a patented rotational hydroponic vertical farming system for medical cannabis producers, distributors and resellers.
The Hydroponic Garden System produces uniform, high-quality plants indoors, using less space and energy than a conventional hydroponic environment, and at lower cost. It results in 10 times the production of traditional ‘flatbed’ growing in the same amount of floor area, using 40% less electricity.
In collaboration with Miracle Valley Medical Alternatives M.V.M.A. Ltd., a Health Canada licensed producer, RGI is building a 29,000 square foot state-of-the-art cultivation and manufacturing facility in British Columbia, which will produce up to 5,400 kilos of pot per year. Phase one will see some 10,000 square feet of grow rooms outfitted with the company’s hydroponic systems, complete with its iGrow software.
Link to full article:
https://finfeed.com/opinion/the-420-report/7-asx-pot-stocks-leveraged-buzzing-canadian-market/
