Announcements

Job offersmore »



Tweeting Growers

Top 5 - yesterday

Top 5 - last week

Top 5 - last month

Exchange ratesmore »




CAN (ON): Canntrust receives cultivation license for Niagara facility

CannTrust has received its Health Canada Cultivation Licence under the ACMPR for its completed 250,000 square foot Phase 1 redevelopment of its 430,000 square foot Niagara Greenhouse Facility. Phase 1 was completed both on budget and on time.

CannTrust expects the first harvest from its Niagara Facility in early November, with full utilization from Phase 1 expected in December 2017.  The planned Phase 2 expansion at this facility is anticipated to be completed and in cultivation towards the middle of 2018. Phase 1 and 2 should conservatively provide the Company with an additional 40,000 kilograms of annual growing capacity.

A further expansion at the Niagara Facility, which is located on 46 acres of land, is currently under consideration as we position ourselves to capitalize on the increased demand expected to arise as a result of the July 2018 legalization of adult consumer recreational use of cannabis.

Management Overview

"The expansion of our Greenhouse Facility together with our Health Canada Cultivation Licence will have a positive impact on the Niagara Region Economy. It will allow CannTrust to scale our production to meet growing market demand and provide maximum value to our customers, partners and shareholders" said Brad Rogers President of CannTrust Inc.

"Our standardized, best practices, pesticide-free products and our physician education programs continue to position us as one of the premier low-cost providers of high quality product resulting in exceptional new patient growth".

Rogers continued "The pending legislation to legalize the adult consumer recreational use of cannabis provides a further major opportunity for the Company. With the completion of all phases of our Niagara expansion we plan to have in excess of 1,000,000 square feet of production capacity. This will give us the ability to acquire a substantial share of the increased demand arising from this new market."

Eric Paul CEO said "We continue to experience dynamic growth in all areas of the Company as we execute our business plan aimed at being a market leader and innovator in the development of products and services. CannTrust has an exceptional team, all of whom have contributed to this important milestone and who continue to help us a build a business steeped in a culture of compliance and the highest standards".

Paul continued "Our recent listing on the CSE will provide the Company with the exposure, platform and access to capital markets required to effectively compete and participate in the dynamic growth of our industry."

Publication date: 10/11/2017

 


 

Other news in this sector:

10/20/2017 Maximize cannabis production with the right environmental control system
10/20/2017 Marapharm Ventures purchases 1.5 million units of Veritas Pharma
10/19/2017 One million square foot cannabis production facility to be built in Australia
10/19/2017 North America’s first scientific paper on how to produce cannabis under controlled environment
10/19/2017 US (CA): $8.4 million MMJ greenhouse comes to Greenfield
10/18/2017 US: 42% of marijuana business owners plan to expand into new markets
10/18/2017 Photos: A trip inside Caliva's farms
10/17/2017 Will legalized marijuana give a new impulse to Mexico's economy?
10/17/2017 Medicinal marijuana one step away from legalization in Peru
10/17/2017 US (MI): Marijuana degree combines science and business
10/16/2017 Macedonian MMJ grower invests in Heliospectra LEDs
10/16/2017 What is Vapor Pressure Deficit and why does it matter?
10/16/2017 Cronos announces distribution agreement in Germany
10/13/2017 US (NV): Marapharm building third facility in Las Vegas
10/13/2017 Canada: Namaste and Authenticating.com partner in MJ identity verification
10/12/2017 Puerto Rico MMJ businesses assess hurricane damage
10/12/2017 CAN (BC): Joint venture converts 1.3 million sq. ft. into MMJ greenhouses
10/12/2017 Hydropothecary CEO on competing with the marijuana black market
10/10/2017 US (CA): Bob Echter speaks up for marijuana cultivation
10/10/2017 CAN (ON): Supreme crosses important revenue milestone