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Ayurcann (CSE:AYUR) CEO Igal Sudman discussed recent milestones, including receiving the legal authorization from Health Canada to produce flowers, representing the vast majority percent of total cannabis sales. The CEO of Ayurcann said, “We’ve been getting into the flower business — we just got our flower license and the intention is really to go after that 50 percent of the market for cannabis in Canada.”
Sudman notes, “We are one of the largest extractors, doing over 1,000 kilograms a week of biomass input and have one of the largest inventories of distillate, the THC and CBD. We also have farmer grade isolates that we’ve been supplying.”
Prior to receiving its license to produce and retail cannabis flower in April 2022, the Ayurcann maintained three segments: extraction and refinement, bulk oil sales, and white label solutions. This represents a significant part of the cannabis market, with a combined value of 36 percent, but according to Sudman, “When it comes to distillate oils, vapes, tinctures, topicals, and so forth. We’ll be supplying and majority of a lot of licensed producers (LPs) in the cannabis sector — but it’s only half the market.”
Sudman noted that, while the cannabis industry may be in a slight lull, the value proposition for investors remains. Ayurcann’s debt-free, profitable model, particularly now that the company is gaining market share through the flower industry, offers investors an opportunity. According to CEO Igal Sudman, the key to the business’ success is, “Being able to offer the right product, at the right price for the retailers or for the buyers, is what has made us successful so far, and I think will make us even more successful in the future.”
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The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
