Winnipeg pot producer planning to go public with hopes of creating hundreds of jobs
A Manitoba medical marijuana producer is about to go public in a move it hopes will create hundreds more jobs.
Delta 9 Bio-Tech said Tuesday a merger with SVT Capital means it will now be listed on the Toronto Stock Exchange (TSX), likely this week.
CEO John Arbuthnot said the Winnipeg based company has more than 2,500 licensed medical marijuana users but has big plans to expand once it goes public.
“A part of our go public strategy here is to raise between $25-30 million over the next six months,” Arbuthnot said.
That would allow it to take annual production from about 1,000 kilograms per year to as much as 17,000.
He said it would also allow its staff to grow from 55 to between 300-500.