Greenway Greenhouse Cannabis Corporation entered Canada's frenzied cannabis market not long after the country legalized recreational use in October 2018 but with a different game plan than most of its peers.
While the company was smaller than many licensed producers (LP) rivals, the agricultural lineage of its leadership team proved an important advantage after the industry's initial excitement gave way to hard business realities.
Greenway is still led by the two men who co-founded the company: CEO Jamie D'Alimonte and President Carl Mastronardi, both of whom co-chair the organization.
D'Alimonte is a third-generation farmer whose family focuses on tomatoes, peppers, cucumbers, and strawberries, which have been on shelves across Canada and in major U.S. retailers since the 1950s. The Mastronardi name is known in North American agricultural circles for their family's work in greenhouse growing, stretching back to the 1940s.
Thanks to those decades of experience, Greenway's weighted average cash cost for finished goods inventory was $0.75 per gram at the end of December 2023, amongst the lowest in the Canadian market.
"Even in inflationary times, we have been able to keep costs down and quite level," he says.
"Early on, and even recently, you're seeing costs at some other LPs well over $1.50 to $2.00 per gram. That is the difference with us, as well as production per plant, with some yielding upwards of 250 to 300 grams."
Situated in Leamington, Ontario, Greenway's facility is in one of the southernmost and sunniest points in Canada, affording a perfect climate for greenhouse production.
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