CFO Robert McIntyre comments on the regulatory approval by Health Canada of Licensed Processors and Cultivators in renowned publication Forbes. Read the excerpt below:
Some experts say the bottleneck exists in the regulatory approval by Health Canada of Licensed Processors and Cultivators.
“The cultivation and processing capacity exists, but the lack of licensing is keeping that production off the shelves,”
Rob McIntyre, CFO of Salvation Botanicals Ltd., told me. His Canadian extraction and formulation company recently agreed to produce cannabis products for U.S.-based Medical Marijuana, Inc. for the Canadian market.
McIntyre also said there will be a lot of changes in the industry over the next two years and testing rules need to keep up.
Health Canada has added significant resources to attempt to shorten the approval process, but the backlog is significant,” McIntyre explained. “In the coming months, we expect to see this supply shortage ease.”
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