Enertopia Makes Progress On Road To Status Of MMP Licensed Producer

Enertopia Corp. (ENRT), an aspiring licensed producer under Canada’s Marihuana for Medical Purposes Regulations (“MMPR”), has been making steady progress towards securing a license since our initial coverage and follow-up coverage detailing its three projects. While the timeline depends largely on Health Canada, management has been actively improving its facilities in preparation.

On July 14, 2014, the company released its 10-Q filing with the SEC showing $1,215,899 in cash and equivalents along with a robust current ratio of 6.2x, setting it apart from many other debt laden competitors. The company’s market capitalization of approximately $15 million is also significantly lower than many of its peers despite its experienced management and past MMAR experience.

In this article, well provide an update on the company’s three medical marijuana-growing operations within Canada based on discussions with management. Project Updates The Green Canvas project, located on 160 acres of farm land Northwest of Regina, Saskatchewan, where management is actively working on security upgrades on its 14,000 sq. ft. growing space (scalable to 55,000 sq. ft.) in which it has signed an agreement to obtain a 75% interest over three years (currently owning 49%).

The GTA project, located in the Burlington, Ontario in partnership with Lexaria Corp., recently received municipal approval for medical marijuana projects within the city limits. The joint venture is engaging David Hyde & Associates for security design and implementation, as well as KNY Architects Inc.

To read more, visit http://finance.yahoo.com/news/enertopia-makes-progress-road-mmpr-135700360.html

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