SpeakEasy, a late stage ACMPR applicant, plans to begin work on its first 60 acre outdoor plantation and process facility in Rock Creek BC for the spring of 2019. If they successfully complete 2,600,000 square feet of planned outdoor production area in its phase one plantation, SpeakEasy would be among the largest producers in Canada. Speakeasy is also planning an additional 60 acres in its phase 2 expansion slated for the spring of 2020 that could double its production capabilities. Marc Geen, CEO states, "The recent release of regulations allowing outdoor production is a dream come true for us. It has always been our plan to grow outdoors on a large scale, but we did not expect regulations to allow it to happen this soon. The climate here in Rock Creek is absolutely perfect for growing cannabis outdoors and we are thrilled at the opportunity to begin as soon as possible." Development cost are forecast to be under $10.00 per square foot for the outdoor plantation and processing facility, by comparison, greenhouse and indoor facilities cost approximately 20 to 30 times more per square foot.
SpeakEasy anticipates its projected outdoor production costs to be roughly 1/4 the cost of the current industry average of $1.00 - $1.75 per gram for greenhouse product and $2.00 per gram or more for indoor. Part of the low cost structure stems from the fact that they will not have the same infrastructure or power requirements for production when compared to indoor, the company says in a news release. SpeakEasy will be able to utilize the bulk of the outdoor product for extraction and use in value added products expected to be allowed in the market next year. The remainder can be allocated to strategic partners in Canada and Germany to fulfill existing sales and distribution agreements.
SpeakEasy also intends to pursue a nursery license under the cannabis act with the intent of partnering with featured growers and other genetic experts within the industry. SpeakEasy has secured a large catalogue of highly sought-after genetics for use within the company and for development and sale to licensed producers once the cannabis act takes effect in October 2018.
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