Key Takeaways
- Greenway Greenhouse has applied to Health Canada to add dedicated propagation space at its Leamington facility to increase crop efficiency and throughput.
- The Company aims to move closer to achieving six full crop rotations per year, optimizing space and plant development stages.
- Wholesale cannabis prices have rebounded significantly, with Greenway’s average revenue per gram rising from $0.84 to $1.58 over six quarters.
- CEO reports that all recent crops are sold before harvest, highlighting strong demand and fresh supply availability.
- The MillRite brand continues to rank highly in the pre-roll segment, with new formats, including blunts, launching in Ontario.
Greenway Greenhouse Expansion Plans Filed with Health Canada
Greenway Greenhouse Proposes New Propagation Space to Boost Efficiency
Greenway Greenhouse Cannabis Corporation (CSE: GWAY) (OTCQB: GWAYF) has submitted an application to Health Canada to modify its Leamington, Ontario greenhouse facility by adding dedicated propagation and vegetation space. The Company aims to use this mid-stream propagation area to increase space and time efficiencies in its flowering rooms, potentially enabling six full crop rotations annually.
“We are always looking for new ways to increase our efficiency and lower our costs,” said Carl Mastronardi, President of Greenway. “By having this new dedicated space, we can make sure that the plants remain in the most optimized environment for each stage of their development.”
Greenway believes that acclimating plants in the greenhouse environment before flowering leads to higher productivity and healthier crops—particularly important for preserving the performance of its premium genetics.
Greenway Greenhouse Sees Positive Market Price Trends
Wholesale Cannabis Pricing and Sales Velocity Improve
Greenway reports a continued rebound in wholesale market conditions following the challenges of 2023. Over the past six consecutive quarters, the Company’s revenue per gram has increased from $0.84 to $1.58, suggesting greater demand and improved pricing conditions.
“As we have seen the wholesale price of cannabis for Greenway increase, the speed at which we have been able to move our crops has also increased,” said Jamie D’Alimonte, CEO of Greenway. “Everything we are growing right now has had a home before it’s finished being harvested.”
The Company noted this as a positive sign for the broader industry, allowing them to offer fresher products and more favorable commercial terms.
Greenway Greenhouse Expands Consumer Product Offerings
MillRite and The Jeffrey Brands See Growth and Innovation
Greenway’s MillRite brand remains a top performer in the pre-roll segment, currently ranked as the #2 brand in the 2×0.5g size category. Its Lavender Haze and Pink Moon varieties are ranked second in their respective Indica and Sativa segments. New offerings are scheduled for release in Ontario, including Greenway’s first blunt product—a 1-gram glass-tipped Lavender Haze blunt arriving by the end of May.
Additionally, in April, Greenway re-launched The Jeffrey pre-rolls in Ontario, now available in three sizes to appeal to a broader consumer base and support expansion into new categories.
