Shoppers Drug Mart marijuana is one step closer to reality after a public Canadian marijuana company announced that it has signed on to be the Canadian pharmacy chain’s second medical marijuana supplier.
On Dec. 21, 2017, MedReleaf Corp. (TSX:LEAF), a licensed medical marijuana producer in Canada, announced that it had signed an agreement with Shoppers Drug Mart to supply the pharmacy’s online store with MedReleaf branded products, pending Health Canada’s approval of the licensed producer application submitted by Loblaw Companies Ltd., parent company of Shoppers Drug Mart.
“From inception, MedReleaf has been focused on setting the standard for patient care in our industry and producing consistent, high quality medicine,” said Neil Closner, CEO of MedReleaf, in a press release. “With this agreement, we look forward to making our award-winning strains available as the trusted provider of premium cannabis-based pharmaceutical products to the largest pharmacy retailer in Canada.”
Prior to the announcement, MedReleaf’s stock opened the day at C$16; following the announcement, the stock hit a high of C$16.99 and closed the day at C$16.12, a 0.94% gain for the day.