Hydropothecary Corp (CVE: THCX)(OTCMKTS: HYYDF) Is Today's Cannabis Focus

It is very likely that Canada will become the second country, next to Uruguay, to legalize marijuana for recreational use. Prime Minister of Canada Justin Trudeau introduced legislation on April 13, 2017 to legalize the recreational use of marijuana, as he pledged he would during the last election cycle. The proposed legislation is now making its way through the approval process, and is expected to become law by July of this year.As a consequence, Canadian cannabis companies are rushing to capitalize on the anticipated increase in demand for marijuana products that will result from legal recreational use. Medical marijuana has been legal in Canada since 1999, from which a burgeoning medical marijuana industry has developed. Companies that are already well established in the medical marijuana industry have a tremendous advantage for capitalizing on the upcoming opportunity from the additional growth in the industry resulting from legal recreational marijuana. Hydropothecary Corporation (OTCMKTS: HYYDF, and CVE: THCX) is one such company.The Hydropothecary Corporation is an authorized licensed producer and distributor of medical marijuana licensed by Health Canada under the Access to Cannabis for Medical Purposes Regulations (Canada). Hydropothecary provides naturally grown and rigorously tested medical marijuana of uncompromising quality. Hydropothecary's branding, marijuana product offering, patient service standards and product pricing are consistent with THCX's positioning as a premium brand for a legal source for medical marijuana within this new marketplace. In addition to medical marijuana production and sales, Hydropothecary explores various research and development opportunities for cannabinoid extracts, drugs and combinatory chemistry. In addition, the company is investigating the development and patenting of novel technologies related to medical marijuana, as well as the import and export of medical marijuana.Hydropothecary Corporation just recently became a publicly traded company. Trading of Hydropothecary stock on the TSX Venture Exchange, under the ticker symbol THCX, commenced on March 21, 2017. The stock also trades on the OTC under the ticker symbol HYYDF. The shares opened trading on the first day at C$1.82 before settling to close at C$1.55 apiece. Nearly 3.6 million shares changed hands.Hydropothecary was initially incorporated in August, 2013 with a vision to provide Canadians with medical marijuana combined with an exceptional customer service experience. The company was founded by brothers-in-law Sébastien St.-Louis and Adam Miron, and partnering with Louis Gagnon, an award-winning horticulturist.On March 29, 2017, Hydropothecary Corporation announced that it received an amendment to its licence from Health Canada under the Access to Cannabis for Medical Purposes Regulations (Canada) (the "ACMPR") to include the sale of cannabis oils from its facility in Gatineau, QC. The Company's license under the ACMPR was amended from production only and provides the Company with the ability to sell cannabis oil products to registered patients under the ACMPR along with its current dried medical cannabis products.

"This is another significant milestone in the Hydropothecary growth story and provides our clients with yet another way in which to consume their medicinal cannabis without smoking" said Sebastien St-Louis, Co-Founder and Chief Executive Officer.

Perhaps the more appealing aspect of Hydropothecary Corporation are its financials. The company’s latest financial results statements ending January 31, 2017 show that revenue increased over 400% from $180K in the second quarter of 2016 to $913k in the second quarter of fiscal 2017, and increased to $2.1M for the six months ended January 31, 2017, from $201k for the six months ended January 31, 2016. The company’s balance sheet shows plenty of cash on hand to execute its plans. Current market capitalization stands at US$86.4 million, on 10.28 million shares outstanding as of March 12, 2017.We will be updating our subscribers as soon as we know more. For the latest updates on THCX/HYYDF, sign up below!Disclosure: We have no position in THCX/HYYDF and have not been compensated for this article.