- The company gained attention in all quarters after winning a high-stakes lottery held by the TMX Group and clinching the POT stock ticker symbol on the Canadian Stock Exchange.
- Entered into a definitive agreement with R&D Pharma to acquire its Jamaican property. Called Tropicann Jamaica, the estate now spans 98 acres, 60 acres of which are usable for cultivation.
- Signed a distribution deal for Canna Candys, mixed fruit gummies containing hemp oil extract, which will be sold across the Northeast, Midwest and Southeast regions of the US.
- Moving into Oklahoma after acquiring 20,000 feet of indoor facilities for cultivation as well as extraction as well as space for a retail store.
- Recently closed on its acquisition of Verve Beverage Company, the maker of CBD and non-CBD beverages, and creator of Champ Energy, the official energy drink of the NHL’s San Jose Sharks.
What Weekend Unlimited does
Weekend Unlimited focuses on both the cannabis and CBD (cannabidiol) markets, boasting operations in the US, Canada and Jamaica.
CEO Paul Chu describes the Vancouver company as a global consumer packaged goods company with a focus on cannabis.
Weekend Unlimited has spent the last several months on the acquisition trail, scooping up companies, production facilities and investment stakes as it looks to establish dominance in the cannabis space.
Its recent move into Jamaica, which covers the acquisition of 145 acres of cultivation property, will pave the way for Weekend to develop cannabis brands for the island nation as well as for international export. It will also allow the company to forge ahead in Jamaica’s lucrative market for medical cannabis.
Also on the roster of recent wins is the acquisition of Canna Candys, the maker of mixed fruit gummies enhanced with hemp oil extract. While production facilities remain in California, the gummies are also set to be sold in the US’s Northeast, Midwest and Southeast regions.
Another coup for Weekend’s sales in Canada is the recent licensing and grand opening of its subsidiary Northern Lights Supply in Nisku, Alberta. The store offers 6,500 square feet of retail space, making it one of the largest approved retail cannabis stores in Alberta.
Weekend’s business in Washington state is moving ahead with its efforts to provide processing and distribution to the popular Boggy Boon-branded cannabis company Seven Hills. Boggy Boon-branded cannabis is cultivated in a 28,000 square feet facility located in Wenatchee, a town in north-central Washington, where Weekend’s subsidiary Orchard Heights Growers is also conveniently located.
How is it doing?
The company is generating buzz, highlighted by its drink Champ Energy sponsoring the wildly popular South by Southwest (SXSW) music and film festival in Austin, Texas in March of 2019.
With many of its businesses still getting off the ground, Weekend reported a net loss in the three months ending in December but the company has cash in its war chest after seeing its assets jump to $12.5 million at the close of December from $8.77 million in the previous quarter.
Since taking over at the helm in December of 2018, CEO Paul Chu has been taking stock of how each of Weekend’s businesses fits within the whole organization, exploring new opportunities and begun a rebranding campaign. “We want to have a much broader approach of the brand,” he says.
Looking ahead, Chu hopes to widen Weekend’s business beyond Canada, Jamaica and the West Coast of the US and push East into New York, New Jersey and Massachusetts.
What the boss says
“It’s a very exciting industry for sure,” says Chu. “We’re a multi-state business, but we’re also a cross border business if you combine our efforts in Jamaica, the US and Canada. We do have a multi-faceted vertical approach and we are a consumer-packaged brand.”
Contact Ellen Kelleher at [email protected]