PORTLAND, Ore.--(BUSINESS WIRE)--Cura, one of the largest cannabis companies in the world, is officially entering the Canadian market by beginning the application process in pursuit of its own Access to Cannabis for Medical Purposes Regulations (ACMPR) license as well as its Dealers License (DL).
These licenses will allow Cura to operate in Canada as well as enable it to export its products to Western Europe and other countries. Cura has retained Cannabis Compliance Inc. (CCI), the world’s largest cannabis compliance firm, to shepherd it through the licensing process. CCI will also provide a number of other services including recruitment, training, real estate search, and identifying partners to provide Cura with very high quantities of quality-assured, pesticide-free plant material that it needs for its Canadian and international operations.
Cura’s decision to move into Canada is in direct alignment with the company’s mission to be the leading provider of cannabis oil to consumers and brands in legal U.S. and international markets.
2017 was a significant year of growth for Cura, and 2018 is set to be a year for the cannabis history books. Thanks to the team’s success, its focused strategy on oil production, and a $40M revenue recorded for 2017, the company is now closing funding at a valuation of $400M. Q1 2018 revenue was $18M which, based on publicly available data, is the largest revenue quarter in legal cannabis history. Known first as the largest cannabis company in Oregon, last year the company moved into California and its Select brand became the best-selling cannabis brand in the state after only five months (*since October 2017, according to BDS Analytics). In addition to its presence in Nevada, Cura will continue its growth into additional U.S. states this year in partnership with critical partners across North America.
“We selected CCI as our partner to enter the Canadian market thanks to its size, its exceptional team of subject matter experts and its proven expertise in navigating the constantly shifting regulatory framework of this industry,” said Cameron Forni, co-founder and president at Cura. “My team and I are more than excited to contribute to the Canadian cannabis ecosystem in 2018.”
The Canadian cannabis market is projected to exceed $1.1 billion by 2020. With the legalization of recreational cannabis coming this year, Cura looks forward to continuing its focus on identifying quality-assured, pesticide-free supply chain and manufacturing innovative, safe consumer products for the Canadian market.
“We are excited to bring this unique, one-of-a-kind company and its products into the Canadian cannabis industry. This deal signifies a bridging of the gap between finished product manufacturers in well-established and significant U.S. markets like Oregon, California and Nevada,” said Michael Elkin, vice president of partner channels at CCI.
Canadian licensed producers interested in working with Cura are encouraged to get in touch with Michael Elkin of CCI for consideration at Michael@cannabiscompliance.com.
Cura Cannabis Solutions is one of the largest cannabis brands in America, on a mission to be the leading provider of cannabis oil in legal U.S. and international markets. Our goal is to provide patients and customers with the cleanest, most flavorful high-quality cannabis oils, with the safest delivery methods available. Makers of the Select Oil and Select CBD brands, Cura was established in Portland, Oregon in 2015 and in 2018, we were named as one of the Top 100 Companies to Work For in Oregon by Oregon Business Magazine. In addition to our home state, we are proud to have a large presence in Nevada, California and soon additional states and locations across North America. Learn more at: www.curacan.com
ABOUT CANNABIS COMPLIANCE INC.
Cannabis Compliance Inc. offers risk mitigation, due diligence and regulatory compliance for commercial cannabis producers and resellers around the world. We focus in the Global market, and provide our clients with trusted and comprehensive solutions. CCI has extensive expertise in regulatory compliance, cultivation/horticulture, security designs/tender, facility designs/build-outs, quality assurance programs, Import & Export, staff recruitment, training and financial planning. CCI exists to empower the future leaders in the global cannabis industry. Learn more at: www.cannabiscomplianceinc.com