Companies are researching and developing marijuana-based medicines that they hope will create lucrative intellectual property that will provide revenues far into the future.
CannaRoyalty will provide 180 Smoke, a Toronto-based seller of vape products, with up to $2.5 million to expand its operations across the country.
East Ottawa firm says it intends to use the money to advance clinical testing on a cannabis-based pain-relief therapy for cancer patients.
Several local pot companies were signing significant deals that are expected to generate hundreds of jobs and collectively lead to millions of dollars in revenues.
Revenue totalled $21.7 million for the quarter ended Dec. 31, up from $9.8 million in the last three months of 2016.
Canadian cannabis firms seeing boons as recreational legalization expected this year
The estimated volume of cannabis consumed tended to increase over time from 1960 to 2015, due in part to the increase in consumption among adults
The Ottawa-area pot producer is the largest of its kind in the country and has e-commerce operations and grow sites in six other provinces.
Aphria is one of several voices advocating for pharmacies to be permitted to distribute medical cannabis.
CannaRoyalty is purchasing Kaya Management and Alta Supply, which manufacture and distribute marijuana vaporizer pens, chocolate and other products.