Viridium Pacific Group (VIR.V) announced that their subsidiary Experion Biotechnologies supplied 600 clones to Canadian micro-cultivators through a buy back option agreement yesterday.
Experion has supplied over 2,500 clones to licensed cultivators throughout B.C. and Alberta in the past three months.
The newly licensed cultivators are looking to launch their cultivation process for both the medical and adult-use markets using quality genetics.
“Partnering with new cultivators enables Experion to accomplish a myriad of goals while adding shareholder value. By offering new cultivators proven genetics, sound guidance and advice, and distribution options for their product, Experion benefits from another revenue source, increased capacity and potential expansion of our product offering in the marketplace under the Citizen Stash brand,” said Jay Garnett, chief executive officer of Experion.
Experion is a Mission, B.C.-based fully-licensed producer and distributor of high quality cannabis for the recreational and medical cannabis markets.
Their approach includes:
- Product Development and Sales – gain market share through penetration, expansion and first to market by continuously improving and developing new innovative products, create the ability to access new markets both nationally and internationally.
- Expansion – expand our products and operational capacity regionally, nationally and internationally through partnerships, joint ventures, mergers and acquisitions.
- Branding – develop ground up brands for our products and acquire strategic brands to enhance distribution and recognition.
- Communication – communicate our achievements throughout the market and industry sectors.
- Strategic Partners – partner with the best companies and people to expedite our business plan.
What is Viridium Pacific?
Viridium Pacific is the best little company nobody’s ever heard of. Until now.
They’ve been around since 2018 and they’ve been too busy building out their operation to worry about promotion.
Given the signal to bullshit ratio of the cannabis industry, wherein big promises reap large stock bumps but actual progress gets ignored, their story has gotten shuffled to the background.
Here’s what you’ve been missing:
Experion’s brand Citizen Stash is now being on shelves in B.C. and Saskatchewan. Initial orders sold out quickly, and racked up a 400% increase in reorders, which went out in early April.
The company is also working with several provincial government distributors in three other provinces to expand the retail sales empire.
EFX Laboratories, another of Viridium’s wholly owned subsidiaries, started selling medical two-piece capsules through Aphria (APHA.T) subsidiary, Broken Coast Cannabis. EFC manufacturers the capsules for Aphria through a revenue-sharing agreement.
“When I look at our closest peers in terms of licenses, size, revenue, we’re five times their average market cap. Part of that is that nobody knows who the heck we are. They do a much better job of putting themselves out there, but we’re the only one who doesn’t have debt,” said Jay Garnett, chief executive officer of Experion.
What’s not to like about a company that doesn’t trade on flashy promises?
“If you look at my history, I build things. If you’d like me to build something here, I’m more than willing to do it.”
Sounds like a good start.
Shares are holding at $0.44.
Viridium Pacific Group has 98,783,156 shares issued and outstanding and a market cap of $43 million.
—Joseph Morton
Full disclosure: Viridium Pacific Group is an Equity.Guru marketing client.