True Leaf Director Kevin Bottomley visiting a few of their eastern Canada retailers.

Last week True Leaf Medicine International Ltd. announced to have extended its retail channels for its innovative hemp-based dog chews, which are now available in 47 independent pet stores and chains in Canada. With its recently launched online shop, the company effectively covers all 10 Canadian provinces and the 3 territories. Dog owners in every area of Canada can now purchase hemp-based dog chews that provide healthy hip and joint, calming and antioxidant support to their pet.

According to the press-release, True Leaf has increased the number of stores in British Columbia, Alberta and Ontario, representing a 35% increase in its retail distribution network.Meanwhile, the company has added an e-commerce online shop to its website at, offering a flat shipping rate of $10 CAD to anywhere in Canada for smaller orders, and free shipping on orders exceeding $49 CAD. A store locator is also available on its website.
True Leaf’s CEO, Darcy Bomford, commented:

“This is great news both for True Leaf, and for pet lovers across Canada. We now have a larger concentration of retail stores on the east and west coast, but still a gap in local retail distribution in central and northern Canada. Our e-commerce site bridges this gap.“

This milestone aligns with True Leaf´s ´Quality of Life´ value proposition as it continues to grow its market presence in the $60 billion pet industry with their line of pet products focused on hemp nutrition. In the weeks to come, True Leaf expects to offer its products via natural health and veterinary channels in Canada and the US.

According to Rockstone’s last report “True Leaf is Selling Fast” (December 10, 2015):

“True Leaf Medicine International Ltd.’s first production run is selling out in 35 stores in Western Canada and Ontario. Canada’s first and only hemp-based dog treats were put on shelves in October and are selling so fast that True Leaf is moving to a manufacturer with greater production capacities “in order to meet demand”… Currently, Bomford is working on restocking retail venues and increasing the number of stores which offer True Leaf‘s products in Canada. Next steps include launching the product line in the US (and thereafter in Europe). For that purpose, the company has joined the American Pet Products Association (APPA) to facilitate US marketing. True Leaf will have a booth at APPA’s Global Pet Products Expo in Orlando, Florida, in March 2016. With more than 1,000 exhibitors, 3,113 booths and more than 3,000 new product launches, the Global Pet Expo is the pet industry’s largest annual trade show – and “a doorway to the fast-growing $60 billion US industry” according to yesterday‘s news.”

Rockstone eagerly awaits the first announcement of sales numbers and the generation of cash flows. Besides its hemp-based dog chews business, True Leaf has filed an application under Health Canada´s Marihuana for Medicinal Purposes Regulations (MMPR) to become a licensed producer with a facility located in the Village of Lumby, BC. The company has passed through the preliminary and enhanced screening process of Health Canada´s review and is currently awaiting a ´ready-to-build´ approval.

Last year in October, Chris Parry commented on the newly elected Canadian government being positive for Canadian cannabis companies:

“She’s gone. The Lego-haired, science-eschewing head of Canada’s healthcare industry, Conservative Health Minister Rona Ambrose, is no longer sitting on the lid of the nation’s medical marijuana system, by virtue of an avalanche-like defeat of her party in last night’s federal election. And that has brought a rise in the stock of some of Canada’s weedcos... Look, it’s going to take a solid 6 months to see minimal movement on the weed front with a new government, and that movement, in the short term, is likely to be largely bureaucratic in nature. I’d expect the MMPR companies to see restrictions on marketing eased, and I’d expect Health Canada to be told to loosen up a little on the application process… Full recreational use? That’ll take two years. Getting another 25 license-holders approved? That may take as long and, frankly, there’s questions as to exactly what the optimal level of license holders out there should be. If the clamps come off the MMPR business model, the existing license holders should be able to expand happily into a growing market with maybe 5-10 newbies tossed in to ensure completion. A free-for-all would only see trashbags of the stuff going to auction without a buyer, like we see in Washington State presently.”

According to an article by CBC Canada (January 28, 2016):

“A new report from CIBC World Markets says Canada‘s federal and provincial governments could reap as much as $5 billion annually in tax revenues from the sale of legal marijuana. CIBC economist Avery Shenfeld crunched the numbers using current estimates of Canadian recreational pot consumption, the revenue experience in U.S. states that have legalized, and other factors — such as prevailing ‘sin tax’ rates on alcohol and tobacco. The Liberal government has promised to legalize, tax and regulate marijuana and has made MP Bill Blair, the former Toronto police chief, the lead on investigating a new regulatory model. Trudeau maintains that legalized pot will not be a cash cow, and that all revenues will be used to address public health and addictions issues. ‘It was never about a money-maker, it was always about public health, public safety,’ the prime minister said in December during a year-end interview. The experience of Colorado and Washington states, where pot sales were legalized and taxed, suggests no dramatic increase in marijuana usage but a potential for pot tourism. ‘The desirability of increased marijuana tourism inflows will be questioned, no doubt, but they would generate additional fiscal revenues for government on their other tourist spending,’ Shenfeld writes. The report uses Colorado sales figures to estimate a Canadian pot market worth about $10 billion annually, then looks at net profit margins from Ontario‘s government booze monopoly and other associated income and payroll taxes to come up with the revenue total. Shenfeld also suggests that the oft-touted law enforcement savings from pot legalization may not materialize due to ongoing international obligations to stop marijuana exports and the enforcement needed to curb the untaxed black market. ‘Deficits won‘t simply go up in smoke as a result,’ he concludes.”

As the FORTUNE Magazine commented recently on February 1, 2016 in an article entitled “Legal Marijuana Sales Could Hit $6.7 Billion in 2016”:

“It’s time to take America’s legal marijuana market seriously… The burgeoning cannabis industry has gone from a curiosity to a bona fide booming market... Just how big is the market for legal pot? A new report by a leading marijuana industry investment and research firm found legal cannabis sales jumped 17%, to $5.4 billion, in 2015 and they will grow by a whopping 25% this year to reach $6.7 billion in total U.S. sales. The numbers are staggering, considered the first recreational dispensaries opened for business in Colorado only two years ago. On Monday, ArcView Market Research will release its fourth edition of The State of Legal Marijuana Markets report, and it includes the prediction that the legal cannabis market will see a whopping $21.8 billion in total annual sales by 2020. (By comparison, at that point, the legal marijuana market could be bigger than the National Football League, which saw roughly $12 billion of revenue last year but is aiming to reach $25 billion by 2027). ArcView expects the legal pot market to show a compound annual growth rate of nearly 30% over the next few years. “I think that we are going to see in 2016 this next wave of investors, the next wave of business operators, and people who’ve sort of been watching or dipping their toe in, really starting to swing for the fences and take it really seriously,” ArcView CEO Troy Dayton said in an interview.”

NEW YORK DAILY NEWS wrote in an article on February 3, 2016:

“Americans spent more money on legal marijuana in 2015 than Donald Trump is worth, research revealed Monday. The $5.4 billion in legal pot sales outpaces the magnate and presidential candidate‘s $4.5 billion net worth and dwarfs the $1.7 billion cost of NASA’s Space Shuttle Endeavour. And weed sales will overtake the price of a nuclear-powered aircraft carrier in a few years. Analysts from ArcView Market Research and New Frontier Data unveiled their annual report on the size of the legal pot market Monday, showing a 17% increase over 2014. The marijuana market researchers predict overall sales will grow to $21.8 billion by 2020 at a compound annual rate of 30%. Voters in at least seven states will consider allowing adults to get high legally this year and 86% of Americans now live in states with some form of legal marijuana use. ‘Many in the business and financial sector have taken a ‘wait and see’ approach to the legal cannabis industry,’ the publishers wrote in an introductory letter. ‘The data in this report confirms what pioneer investors and entrepreneurs suspected: legalization of cannabis is one of greatest business opportunities of our time and it’s still early enough to see huge growth.’”


About True Leaf

True Leaf Medicine International Ltd. is entering the $60 billion pet industry of North America and the $26 billion pet market of Europe with a line of hemp-focused pet chews and supplements marketed through natural pet health and veterinary channels in Canada and the US. The company has also filed an application under Health Canada’s Marihuana for Medicinal Purposes Regulations (MMPR) to become a Canadian licensed producer. It has passed through the preliminary and enhanced screening process of Health Canada’s review and is currently awaiting security clearance. Orders can be made on the company‘s website.


Company Details

True Leaf Medicine International Ltd.
100 Kalamalka Lake Road, Unit 32
Vernon ,British Columbia V1T 9G1, Canada
Phone: +1 778-389-9933

Shares Issued & Outstanding: 41,945,473

Canadian Symbol (CSE): MJ
Current Price: $0.115 CAD (Feb. 8, 2016)
Market capitalization: $5 million CAD

German Symbol / WKN: TLA / A14NM1
Current Price: €0.08 EUR (Feb. 8, 2016)
Market capitalization: €3 million EUR


Analyst Coverage

Research #10 “True Leaf‘s Selling Fast” (December 10, 2015)

Research #9 “True Leaf Expands to Europe” (November 2, 2015)

Research #8 “True Leaf Unveils New Product Line” (September 17, 2015)

Research #7 “Another Key Piece for the True Leaf Puzzle” (september 8, 2015)

Research #6 “True Leaf Pet’s Hemp Chew Product Line to be Distributed Across Canada” (August 12, 2015)

Research #5 “Interview with True Leaf‘s CEO Darcy Bomford“ (August 6, 2015)

Research #4 “One Step Closer Becoming A Licenced Medical Marijuana Producer“ (July 21, 2015)

Research #3 “True Leaf on its way to production“ (June 5,2015)

Research #2 “True Leaf To Enter The Pet Food Market With Hemp Products In Fall of 2015“ (April 9, 2015)

Research #1 “True Leaf Medicine International Ltd. Goes Public“ (February 9, 2015)

Disclaimer: Please read the full disclaimer within the full research report as a PDF (here) as fundamental risks and conflicts of interest exist. 

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Name: True Leaf Medicine International Ltd.
Canada Symbol: MJ
Germany Symbol / WKN: T6UN / A12CWK
Shares Issued & Outstanding: 41,945,473
Phone: +1 778-389-9933

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