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This Company Was Just Granted a Health Canada Dealer’s License to Possess, Produce, Sell and Distribute Legal Cocaine (VIDEO)

Adastra Holdings, Recently Announced Health Canada Approved an Amendment to its Controlled Drug and Substances Dealer’s License, Allowing it to Possess, Produce, Sell and Distribute Cocaine Legally

The new safe supply narcotics sector is evolving rapidly, but from an investment standpoint, is in its infancy.

One company, in particular, Safe Supply Streaming Co., is arguably positioning itself to be the likely bellwether stock in this exciting new industry. Being a first mover in this space, Safe Supply Streaming has the potential to follow a path similar to the one carved out by Canopy Growth and MindMed, in their respective sectors.

Adastra Holdings (CSE: XTRX) (FRA: D2EP) operates through its subsidiaries, Phyto Extractions and Adastra Labs, which specialize in the production and distribution of cannabis concentrates, edibles, topicals, and other related products.

In late February 2023, Adastra announced that Health Canada approved an amendment to the company’s dealer’s license to include cocaine as a substance the company can now legally possess, produce, sell and distribute. For legal purposes only and not to consumers, the company can possess, produce, sell and distribute up to 250 grams (8.8 ounces) of cocaine and can now import and manufacture coca leaves to create synthetics.

On August 24, 2022, Adastra originally received its Controlled Drug and Substances Dealer’s License from Health Canada, permitting the company to possess, produce, sell and distribute up to 1,000 grams of psilocybin and psilocin.

Fuelled by its cocaine dealer’s license amendment news, Adastra’s stock price spiked by over +120%, trading as high as $1 that week. The stock carried that momentum into March, climbing to a high of $2 before quickly plummeting -72.5% in the last two days to its current price of $0.55. Quite the rollercoaster ride for Adastra investors. A rollercoaster ride that likely created many more bagholders than it did profiters.

Source: Global News YouTube

Also Read: Safe Supply Streaming and Origin Therapeutics Engage Research Capital, Announce Financing Upsized to $4 Million

First Mover Safe Supply Streaming Co. Looks to Become New Sector’s Future Bellwether Stock

Another company investors looking to get involved early in the new safe supply narcotics sector must have on their radar is industry first mover Safe Supply Streaming Co. Safe Supply Streaming is the world’s first-pharmaceutical safe supply streaming company with portfolio streaming agreements diversified across the entire value chain.

Beginning on January 31, 2023, Canada implemented a first-of-its-kind three-year trial designed to tackle the critical drug overdose crisis currently engulfing Canada.

The province of British Columbia took the first step in Canada’s new and innovative approach to combatting the crisis by decriminalizing hard drugs such as cocaine, MDMA, opioids and methamphetamine. The Canadian federal government granted B.C. a Criminal Code exemption, effectively decriminalizing the personal possession of hard drugs throughout the province. Adults in B.C. can now possess a combined total of 2.5 grams of Cocaine, MDMA, Opioids and Methamphetamine. The three-year decriminalization trial will run through January 2026.

As the new industry’s first mover and likely future bellwether stock, Safe Supply Streaming wasted no time getting to work, with the company immediately announcing its plan to go public on the same day Canada’s hard drug decriminalization went into effect.

On January 31, 2023, it was announced that Safe Supply Streaming signed a binding LOI to merge with psychedelics firm Origin Therapeutics (CSE: ORIG) (FSE: U8B).

The planned merger is expected to be completed through a ‘three-cornered’ amalgamation under the Business Corporations Act (British Columbia) and will constitute a reverse takeover of Origin Therapeutics by Safe Supply Streaming. The arm’s length transaction is slated to close in the early spring of 2023.

Upon completion of the pending merger, the new combined company is expected to become the world’s first publicly-listed pharmaceutical and narcotics investment company, with the goal of becoming a global powerhouse with a first-mover advantage in the rapidly emerging safe supply narcotic sector.

Speaking to Benzinga on the company’s historic merger announcement Safe Supply Streaming CEO Bill Panagiotakopoulos commented:

“This is a major milestone for Canadian political history and represents the third and final wave of de-scheduling narcotics here in Canada following the success of cannabis and psychedelics in prior years. Canada will become the first G7 country to make such a bold move to fight the fentanyl crisis and create a safe supply ecosystem. This will only be productive if we concurrently incorporate rehabilitation into the framework, and we intend on being heavily involved in that healing process through our various ventures. We are honored to be the first pharmaceutical/ narcotics streaming company with a first mover advantage and clear, efficient path to list on a public exchange to give us a strong foundation in this burgeoning sector.”

Also Read: New Safe Supply Narcotics Sector Sees Formation of First Major Player (VIDEO)

Per the LOI, Safe Supply Streaming also announced a $3 million private placement financing, which on March 2, 2023, the company reported was upsized to $4 million.

Commenting on the upsized financing news, Safe Supply CEO Bill Panagiotakopoulos stated:

“We are pleased to be making this announcement and feel that the increased demand in the Offering is indicative of a broad interest in Safe Supply and our ability to execute upon our business plan. We are a first mover in the narcotics safe supply industry and are proud to be putting a stake in the ground as such.”

In conclusion, while the recent headline from Adastra Holdings was certainly eye-catching, once you dig a little deeper, it becomes evident that Safe Supply Streaming, with its first-mover advantage, is building a true industry powerhouse with its investments diversified across the entire safe supply narcotics sector value chain. When you look back at the life-changing profits generated by early investors in the cannabis and psychedelics sectors, it’s hard not to notice the similarities between the early days of the aforementioned sectors and the rapidly emerging safe supply narcotics industry.

In addition, as the established first mover in this exciting new space, Safe Supply Streaming is making all the right moves and has the right ingredients to follow a path similar to the one carved out by Canopy Growth (TSX: WEED) (NASDAQ: CGC) and MindMed (NEO: MMED) (NASDAQ: MNMD), in their respective sectors.

With Canopy Growth producing potential gains of as much as +4,100% in its first three years of trading and MindMed generating potential returns of as much as +1,100% in its first two years of trading, it’s easy to see why there’s so much excitement surrounding the pending IPO of Safe Supply Streaming Co., and why the company is the odds on favourite to become the new sector’s future bellwether stock.

Learn more about Safe Supply Streaming: Website | Opportunity

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Ryan Troup

Ryan Troup is the Editor in Chief of Wealthy VC and TCI. Ryan has 15+ years of investing experience. Twitter | Email

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