Cannabis Company Experiences More Highs Than Lows During Pandemic
A Queens cannabis company continues to thrive despite the COVID-19 pandemic.
CEO Myrna Gillis says Aqualitas has weathered the coronavirus without having to layoff a single employee.
Gillis says 75% percent of the company’s workforce are on the production side and are operating at 100% capacity.
The remaining 25% are administrative support and Gillis says most of those are working from home.
Gillis says because Aqualitas manufactures medical-grade products they already had many measures in place to combat the spread of COVID-19.
“We have gloves and masks and changing of uniforms and things like that. So we have very good protocols in place and we’re happy to say that our workforce remains healthy, which is the main goal, and operations have continued.”
CEO Myrna Gillis – Photo Credit: Aqualitas
Since pandemic restrictions have been in place, Gillis says demand for their cannabis products decreased in some areas but were on the rise in others.
She says sales of some of their milder recreational cannabis containing lower amounts of THC, spiked to four times the normal amounts.
“We associated that with people being at home, you know people being at home with their kids, people just, maybe having some increased anxiety or just wanting to relax a bit more because we’re going through such challenging and different times.”
Gillis says because people have been unable to socialize, flower products that would normally be smoked and shared have dipped, while consumers have turned to cannabis oils and edibles.
Prior to the COVID-19 outbreak, Gillis says Aqualitas had enjoyed month over month growth since they hit the market last May and had been predicting to hit $10 million in revenue this year.
While it is unlikely Aqualitas will meet those targets, Gillis is optimistic they will get back on track.
Aqualitas uses a unique system of aquaponics where plants are grown in water tanks with living fish.
She says the work they’re doing may eventually benefit not just their business, but could reshape the future of agriculture.
“We’ve received hundreds and hundreds of thousands of dollars in research grants and have really moved the needle on aquaponics research and cultivation practices. Obviously for us, we think long term, that it will be used for sustainable farming.”
Gillis says Aqualitas has also partnered with Acadia University to research medical cannabis and vet their products before they hit the market.
She’s says establishing that partnership has opened doors for Aqualitas to work with international drug companies on trials testing the effectiveness of CBD oils in treating chronic panic, Multiple Sclerosis, as well as PTSD.
Gillis says their willingness to dive into the science of cannabis is setting them apart from the other players in the cannabis space.
“To be a supplier in those markets for product development and pharmaceutical and natural health products is a really big, big thing for us. We’re one of the few companies in the cannabis space that is actually putting a lens on active pharmaceutical ingredient production for clinical trials.”
Gillis says it’s been quite a ride so far and says locating in Nova Scotia has been key to their success.
“We were really passionate about developing a business in our own backyard and we knew that we had access to some of the best scientists and universities in the world, and an ecosystem here in this province, that really does propel innovation and entrepreneurship.”
Gillis believes Aqualitas will continue to grow as the province begins to relax restrictions around COVID-19.
Reported by Ed Halverson
E-mail: edhalversonnews@gmail.com
Twitter: @edwardhalverson