Cannara Biotech CFO Nicholas Sosiak: Unveiling Success Strategies and Future Plans
February 08, 2024 at 09:39 am EST
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Cannara Biotech Inc CFO Nicholas Sosiak joined Steve Darling from Proactive to provided valuable insights into the company's success in the cannabis industry.
Cannara, based in Montreal, Canada, is a licensed producer with two facilities totaling 1.6 million square feet, with a strong focus on quality and cost-efficiency, thanks in part to Quebec's low electricity costs.
Sosiak discussed the company's strategic acquisitions, including the purchase of a 1 million square foot cannabis facility for $27 million, significantly below its initial cost. Cannara Biotech Inc. has also developed three in-house brands: Tribal, Nugs, and Orchid CBD, each catering to specific market niches. The company places a strong emphasis on consistency and quality to drive brand loyalty among consumers.
As CFO, Sosiak combines his financial expertise with a passion for the cannabis industry. His leadership has contributed to the company's impressive 60% increase in net revenue. Looking ahead to 2024, Cannara Biotech plans to capitalize on its existing markets, introduce new products, and expand into untapped regions. Sosiak expressed optimism about the potential for international growth, particularly in the US market, once regulatory barriers are addressed.
Cannara Biotech Inc. is currently traded on the TSXV (LOVE) and OTCQB (LOVFF), with plans to enhance visibility among US investors in the future.
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Proactive Canada
Proactive Canada
+1 604-688-8158
action@proactiveinvestors.com
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Copyright (c) 2024 TheNewswire - All rights reserved., source Press Releases
Cannara Biotech Inc. is a Canada-based vertically integrated producer of premium-grade cannabis and cannabis-derivative products for the Quebec and Canadian markets. It operates through its wholly owned subsidiaries, Cannara Biotech (Quebec) Inc. and Cannara Biotech (Valleyfield) Inc. The Company owns two mega facilities based in Quebec spanning over 1,650,000 square feet, providing the Company with 100,000 kilograms of annualized cultivation output. It operates in two segments: Cannabis operations and Real estate operations. The Cannabis operations, which encompasses the cultivation, processing and sale of dried cannabis and cannabis derivatives for the Canadian market and other cannabis services (Cannabis operations). The Real estate operations, related to the Farnham and Valleyfield building (Real estate operations). The Companyâs brand portfolio includes Tribal, Nugz, and Orchid CBD. Orchid CBD is a wellness brand that provides premium CBD-dominant cannabis.
CANNARA BIOTECH INC. 
