MDRM is focused on the Health and Wellness Bio-Medical Industry
Modern Mobility Aids is a development stage specialty company. The company, through its wholly owned subsidiary MDRM Group Canada Ltd. intends to enter the alternative medicine industry with joint-ventures, acquisitions and supply agreements from producers of herbal products. The company is based in Toronto, Canada.
To be a leader in the medical marijuana industry and displaying innovation while leveraging our team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, develop environmentally friendly, economically sustainable businesses, while increasing shareholder value.
MDRM passionate about driving the notion that medical marijuana should be readily available to all who need it to alleviate pain and discomfort through the most efficient and compassionate means. In Canada alone the number of patients authorized to use MM is predicted to grow from 40,000 currently to a minimum of 400,000 by 2024. As in the pharmaceutical and nutraceutical industry Canada will also lead in the production and global export of cannabis products because of our high manufacturing standards for quality. Health Canada’s own estimate, considered conservative, has sales in Canada alone at $1.3 billion by 2024
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Ongoing Stream of Regulatory Changes
Under the new regime in Canada, individuals will no longer have to apply to Health Canada for an authorization to possess dried marijuana for medical purposes. Instead, individuals who require marijuana for medical purposes will be able to legally possess dried marijuana if it was obtained under the MMPR from a licensed producer with a supporting medical document from an authorized health care practitioner. However they will not be able to grow their own as was allowed under the MMAP. Thus, the MMPR creates an unprecedented basis for an industrial-scale medical cannabis supply chain. This opportunity presents a huge horizon for the sale of medicinal cannabis products in Canada as well as to other countries that wish to import cannabis products for qualified patients.
These types of fundamental changes benefit the entire supply chain and increase consumer trust in an industry often overshadowed by the stigma of questionable legitimacy. Running a cannabis-based business has always been a strictly controlled operating environment. Providing strict oversight of all operations from ‘seed to sale’ in compliance with the new federal regulations and guidance is a core competency of MDRM Canada
National Post Analysis
• 477 Number of Canadians authorized to possess marijuana for medical purposes in 2002
• 41,384 Estimated number of Canadians authorized to possess marijuana for medical purposes under MMPR in 2014
• 308,755 Estimated number of Canadians authorized to possess marijuana for medical purposes under MMPR in 2024
• $10 to $15 Current street price, per gram, for dried cannabis
• $1.80 to $5 Price per gram when purchased for medical purpose by licensed consumer, 2012
• $7.60 Price per gram when purchased for medical purpose by licensed consumer, under new MMPR in 2014
• $1,686,600 Revenue to Government of Canada from sales of dried marijuana and seeds, fiscal 2011¬-12
• $1.3-billion Estimated revenue to “legal marijuana supply industry” by 2024
Licensing under the MMPR
Either an individual or a corporation will be eligible to become a licensed producer. In their application, applicants will have to describe the activities they wish to conduct with marijuana and the purpose for conducting those activities. Licensed producers could also become licensed to conduct certain activities with standardized samples of chemicals that occur naturally in the marijuana plant in order to conduct analytical testing of dried marijuana. For example, they will need to possess pure samples of THC and cannabidiol in order to determine the percentage of THC and cannabidiol in marijuana.
A number of conditions will have to be met before the issuance of a license.
• The licensed producer will have to designate key personnel under their license.
• The senior person in charge will have overall responsibility for management of the activities carried out at the licensed site, while the responsible person in charge (RPIC), and alternate RPICs if applicable, will supervise all activities being carried out.
• Key personnel, along with directors and officers in the case of a corporation, will have to hold a valid security clearance, issued by the Minister of Health.
• The applicant for a production license would also have to provide a written notification of their application to the local police force, local fire authority and local government.
• The notice will have to specify the activities for which the license will be sought, and the address of the site at which activities would be conducted.
In response to comments received during prepublication, the MMPR has been revised to include a requirement for licensed producers to also communicate with local authorities when there is a change in the status of their license. A provision has been added to the revised Regulations to require a licensed producer to notify the same authorities previously notified, when the license is granted, an amendment is approved, the license is suspended or revoked for any reason, or when the license is reinstated. Further, the revised Regulations allow the Minister of Health to confirm license information to the authorities originally notified by an applicant upon receipt of such a request.
The applicant will have to provide information that allows Health Canada to assess whether the applicant has certain key measures in place. The applicant will have to provide the following:
• A detailed description of the physical security measures that will be put in place at the site;
• A detailed description of how the licensed producer will keep records of their activities with marijuana and cannabis other than marijuana;
• A quality assurance report that shows that the buildings, equipment and proposed sanitation program to be used meet the good production practices (see “Good production practices” section) requirements;
• A copy of the notices provided to the local police force, local fire authority, and local government;
• The maximum quantity of dried marijuana to be produced and sold or provided under license (if applicable); and
• Floor plans of the site.
Once issued, a license will be valid for up to two years, and is renewable. The MMPR also set out a process for amendments to any information on the license (e.g. the licensed producer wishes to increase its production yield or change sites).