Cannara Biotech

Cannara Biotech Inc. is a vertically integrated cannabis company focused on cultivating and developing cannabis-infused products at its large-scale indoor cultivation facilities in Quebec. The company owns two mega facilities in Quebec spanning over 1,650,000 square feet, providing a potential annualized cultivation output of 120,000 kg of premium-grade cannabis.

Cannara's Farnham Facility, licensed in January 2020, comprises 170,000 square feet of production space and has an estimated annual cultivation capacity of up to 20,000 kg. The Valleyfield Facility, acquired in June 2021, spans over 1 million square feet and includes 24 individual grow zones totaling nearly 600,000 square feet of production space. This facility has the potential to produce over 100,000 kg of cannabis annually once fully built out.

Cannara focuses on perfecting a handful of premium cannabis products and brands catering to both seasoned consumers and new entrants. The company's flagship brands are Tribal, Nugz, and Orchid CBD, offering dried flower, pre-rolls, hash, and other cannabis derivatives. Leveraging Quebec's low electricity costs, Cannara aims to produce premium cannabis products at an affordable price point.

In February 2024, Cannara reported robust revenue growth, with a 65.4% year-over-year increase in gross cannabis revenues before excise taxes in Q2 2024. The company's net revenues rose 51.0% compared to Q2 2023, driven by increased market share across Canada. Cannara continues to expand its product offerings and geographical footprint, with recent entries into Manitoba, British Columbia, and Alberta markets.