Wildflower Brands: A Vancouver Cannabis Retail Opportunity
When it comes to the Canadian retail market, Wildflower Brands Inc. (SUN.CN) (WLDFF) is an opportunity that is flying under the radar. Last month, the company reported to have generated more than $6 million of revenue in the first quarter and this represents massive growth when compared to the same period last year.
Last year, Wildflower completed the acquisition of City Cannabis Co., a cannabis retailer holding two of the three City of Vancouver licenses to sell cannabis and the only company with multiple licenses in British Columbia. This asset has proven to be the greatest growth driver for the business, and we are favorable on the opportunity for City Cannabis in 2020 and beyond.
One of the reasons we are favorable on this opportunity is due to where the cannabis dispensaries are located. City Cannabis has been profitably operating various dispensaries in Vancouver since the city started licensing cannabis retailers. City Cannabis has multiple cannabis retail license applications that have been submitted in British Columbia and Ontario.
2019 was a tough year for the cannabis sector and Wildflower was impacted by the decline. Although the fundamental story has significantly improved, the recent trend has been to the downside and this is an opportunity that we will continue to follow. Going forward, we expect the opening of new dispensaries to be the biggest catalyst for the story and expect to see several new locations opened this year.
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AUTHORED BY
Anthony Varrell
Anthony Varrell is Managing Director of StoneBridge Partners LLC. SBP continues to drive market awareness for leading firms in the cannabis industry throughout the U.S. and abroad.