CanaFarma Hemp Products Corp - Initiation
CanaFarma Hemp Products Corp. (CSE:CNFA, FRA:4K9) produces a range of hemp-derived products for the consumer wellness market. The company has a vertically integrated ‘farm-to-table’ strategy encompassing cultivation, extraction/process, manufacture of branded consumer products, and sales & marketing.
Within the fast-growing market for hemp-based products (28% annual growth trend, see p4-5), CanaFarma is differentiated by a powerful and tested direct-to-consumer (DTC) marketing engine, and a product range that is scientifically validated and consistent quality.
Milestones delivered to date
In 2019 CanaFarma cultivated a 55 acre licensed hemp growing site in New York state, producing 128k pounds (lbs) of hemp, and exceeding industry productivity benchmarks. The company is now seeking suitable sites for cultivation on the required scale to support its future operations.
Also during 2019, the company achieved US$2.8mln of sales of consumer-branded products, at a peak run-rate of more than US$600k per month via its DTC marketing channels, using products manufactured for CanaFarma by a third party. The DTC marketing strategy is an important driver for the company, and the results achieved in 2019 give an indication of the potential revenue ramp-up going forward.
Quick facts: Canafarma
Price: 0.77 CAD
Market Cap: $144.23 m
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