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Be the first with the news that moves the market- BC Craft Supply (CRFT) has made its first purchase of premium artisanal organic cannabis for the recreational market
- The company bought 29 kilograms of BC Original Glue, a dried cannabis flower produced by Coast Mountain Cannabis
- BC Craft will package the flower in 3.5 gram jars and in premium pre-rolls, ready for distribution
- Indiva (TSXV:NDVA) will provide a sales distribution network for the cannabis, under its master processing agreement with the company
- BC Craft Supply (CRFT) remains unchanged and is currently trading at C$0.10 per share
BC Craft Supply (CRFT) has made its first purchase of premium artisanal organic cannabis for the recreational market.
The company has bought 29 kilograms of a purely organic, hand-trimmed dried flower called BC Original Glue. The flower is the product of Coast Mountain Cannabis, an indoor cultivation facility located in Pemberton.
BC Craft will package the flower in 3.5 gram jars and in premium pre-roll formats, ready for distribution.
Earlier this year, BC Craft Supply, operating as Pasha Brands, entered a master processing agreement with Indiva (TSXV:NDVA). Under the agreement, Indiva would distribute cannabis products from BC Craft Supply’s network of artisanal cannabis growers.
Indiva will now begin processing and selling the cannabis products which BC Craft Supply procured from Coast Mountain Cannabis.
BC Craft Supply will offer preferential payment terms for the flower, with a 50 per cent deposit and 50 per cent payment within 30 days. This will allow the company to partner with small-scale craft cultivators.
BC Craft Supply’s CEO, Matthew Watters, said many of the company’s suppliers have faced significant challenges when entering the regulated market.
“We chose these terms because, while it is reasonable and advantageous for the company, it also helps the cultivator. Most small-batch cultivators are family-run businesses, and at BC Craft we believe that they deserve to be paid on time and at a fair price.
“This is a pivotal moment in BC Craft’s vision and mandate to bring the highest quality artisanal cannabis into the legal market, and serves to validate the company’s long-term business model,” he said.
BC Craft Supply (CRFT) remains unchanged and is trading at C$0.10 per share at 12:17pm EDT.
