Pyxus’ Figr Brands Enters Ontario Cannabis Market

Pyxus International (NYSE: PYX) has announced that its subsidiary Figr Brands has entered Ontario’s cannabis market.

The company’s cannabis products are available for sale online through the province’s Ontario Cannabis Store, as well as at various retail locations.

“The entrance into Ontario marks yet another significant milestone for Figr as it continues to expand its footprint across Canada,” Pyxus CEO Pieter Sikkel said in a statement.

“Ontario is the most populated province in Canada with more than 14 million residents, all of whom now have the opportunity to purchase Figr’s high-quality, fully traceable cannabis products,” added Sikkel, who is also the company’s president and chairman.

Expansion

Figr’s entrance into Ontario follows the November approval by Health Canada of the company’s license amendment for its Charlottetown facility in Prince Edward Island.

The amendment permitted the facility to operate in an additional 210,000 square feet, resulting in an expected run rate of up to approximately 28,000 kilograms of product per year.

Upon completion and licensing of the full expansion project, Figr expects the Prince Edward Island facility’s production capacity to be up to approximately 43,000 kilograms annually.

With the addition of Ontario, Figr’s products are now available in four Canadian provinces: Nova Scotia, Prince Edward Island, New Brunswick, and Ontario.

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