Saskatchewan Cannabis and Hemp Companies Among Group Of Businesses To Receive Federal Funding Boost

Article by Sam Riches, Growth Op

More than $11 million in federal funding is en route to businesses in Saskatchewan, in an effort to bolster scale-up and productivity in the province.

Mélanie Joly, the federal minister of economic development and official languages, as well as the minister responsible for Western Economic Diversification Canada (WEDC), announced the funding for 11 projects earlier this week.

Among the recipients are Blue Sky Hemp Ventures Ltd. and Retail Innovation Labs Inc., which has developed a cannabis retail software program.

Blue Sky Hemp is headquartered in Alberta, but operates two production facilities in Saskatchewan. The company received $749,115 for a facility upgrade to scale up hemp oil pressing and CBD oil refining.

Blue Sky operates with a ‘whole plant’ and zero-waste philosophy, where every part of the hemp plant is used. Beyond CBD extraction, the company also provides grains for food products and uses the stalk for a variety of industrial products.Regina-based Retail Innovation Labs, the parent company for Cova Software, received $531,125 to expand the functionality and markets for its cannabis retail point-of-sale (POS) system.

Compliant in both Canada and U.S. jurisdictions where cannabis is legal, and used in more than 1,000 stores, Cova Software bills itself as “the fastest-growing cannabis POS in North America.”

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