See In the News (C-VP) Vodis Pharmaceuticals Inc
The Vancouver Sun reports in its Wednesday edition reefer madness is a reasonable description of the frenzy sparked by Canada’s decision to replace 30,000 small medical marijuana producers by licensing a few big ones. The Sun’s Daphne Bramham writes eventually, the market could be worth as much as $3-billion. There has been so much hype that in June, the B.C. Securities Commission urged people to be “cautious” about investing in medical marijuana companies, most of which have yet to receive Health Canada approval. Health Canada confirms only 22 applications have been approved so far, and only three of those are publicly traded. The rest are trading on the imprimatur of big names and the hopes and dreams of all the money to be made. The licensed OrganiGram trades above $2, while the unlicensed Vodis Innovative Pharmaceuticals trades at 40 cents. Vodis recently added sitting Liberal Senator Larry Campbell to its advisory board. He is being paid in stock options — 250,000 at 40 cents. Also on the board is John Reynolds, a Conservative bagman, former speaker of the B.C. legislature, former MP and former Howe Street stock promoter. Muileboom Organics boasts former prime minister John Turner on its board.