“MPX’s agreement with Case Farms presents a valuable opportunity to immediately inject the MPX brand and products into a very robust marketplace, capturing the currently low source-material pricing environment and without incurring the wait of a lengthy licensing process. Case Farms has the ability to reach more than 100 adult-use licensed dispensaries, which is expected to enable us to leverage California’s recent entry into the adult-use cannabis market and significantly expand the MPX brand using a single point of production-to-distribution service,” said Beth Stavola, Chief Operating Officer and director of MPX.
“This agreement with Case Farms and our entry into California represents a milestone for MPX as we pursue our multi-state strategy in the U.S., replicating our successful Arizona operations to strategically introduce our branded products into key target markets,” stated W. Scott Boyes, MPX’s Chairman, President and CEO.
The State of California began the sale of adult-use cannabis on January 1, 2018, with a cannabis market that is expected to hit $3.7 billion by the end of 2018, and over $5 billion in 2019 according to a report from BDS Analytics. California is the world’s sixth largest economy with a population close to 40 million, according to the U.S. Census.
To be added to the distribution list, please email MPX@kcsa.com with “MPX” in the subject line.
About MPX Bioceutical Corporation
MPX, through its wholly-owned subsidiaries in the U.S., provides substantial management, staffing, procurement, advisory, financial, real estate rental, logistics and administrative services to three medicinal cannabis enterprises in Arizona operating under the Health for Life (dispensaries) and the award-winning Melting Point Extracts (high-margin concentrates wholesale) brands. The successful Health for Life brand operates in the rapidly growing Phoenix Metropolitan Statistical Area. With the acquisition of The Holistic Center, MPX added another operating medical cannabis enterprise to its footprint in Arizona.
GreenMart of Nevada NLV, LLC (“GreenMart NV”) is an award winning licensed cultivation, production and wholesale business, licensed for both the medical and “adult use” sectors in Las Vegas, Nevada, and is already selling wholesale into the Nevada medical cannabis market. GreenMart NV has also optioned suitable locations and intends to enter the higher-margin retail arena by applying for at least two dispensary licenses in the Las Vegas market which will operate under the “Health for Life” brand.
In Massachusetts, MPX is building out and will operate a cultivation and production facility as well as up to three dispensaries and manages three full service dispensaries and one producer in Maryland.
In Canada, MPX has acquired Canveda, which has received its cultivation license from Health Canada, will operate a cultivation and production facility in Peterborough, Ontario. The Company also leases a property in Owen Sound, Ontario, for which an application to Health Canada has been made for a cannabis production and sales license. In addition, the Company will continue its efforts to develop its legacy nutraceuticals business.
Original press release