Cannara CFO talks cannabis cultivation, challenges, opportunities and more
In this edition of “Rising High,” The Fly conducted an exclusive interview with Nicholas Sosiak, chief financial officer of Cannara Biotech (LOVFF), a vertically-integrated producer of premium-grade cannabis and derivative products. Here are some highlights:
CANNABIS CULTIVATION: Cannara is a vertically-integrated cannabis company focused on producing premium-grade products for the Quebec and Canadian market. The company owns two Quebec-based mega facilities spanning over 1.65M square feet and providing Cannara with 125,000kg of potential annualized cultivation output.
“We started in 2018, bought our first facility in 2019 and our second facility last year in June,” Sosiak said. “At the heart of our ethos, we knew that we needed to be vertically integrated because our main objective was to grow premium-grade cannabis and cannabis derivatives.” To deliver that value proposition to the market, Cannara would either have to rely on other cannabis producers or grow cannabis on its own, he said, and the company chose the latter. “We learned quickly how hard it was to grow that kind of cannabis at scale and to achieve quality,” the CFO said. “That was our main objective of being vertically integrated, to ensure that we’re controlling the vertical and the premium quality aspect of the product. That’s really what propelled the company.” From there, the company acquired assets, built brands and developed products and SKUs, he said. “But at the core of Cannara, it’s really about being expert cultivators,” Sosiak said.
To see the rest of the story Click Here.