The 329 acres of land, which is currently under construction, was purchased for $660,000. Prior to the company purchasing the land, it served as an aggregate quarry. The existing on-site aggregate will benefit the company by saving construction costs of purchasing additional aggregate material for building needs. The second advantage of using on-site material is a lower environmental impact that will add value to the project’s LEED certification process.
“Finalizing the purchase of 329 acres for the Weedon project in the Eastern Township region of Quebec is a major milestone for MYM and our stated goal of becoming one of the world’s largest producers of medicinal cannabis,” said Rob Gietl, CEO of MYM. “A heartfelt thank you goes out to the Municipality of Weedon and Mr. Fernand Boisvert for their cooperation with the transaction. We are proud to be a part of Weedon’s bright future with the construction of a world-class greenhouse facility.”
In addition to the greenhouse facility, the project will include the multipurpose CannaCentre complex that will house a museum, auditorium, learning centre, restaurant, bookstore, hotel, and cannabis research and innovation centre. These projects will both generate revenue for the Company and serve as a meeting place and sharing centre for the benefit of cannabis research and development.