Canadian medical cannabis producer Canopy Growth Corp. has been granted a license for the largest federally-licensed cannabis cultivation site in the world – it’s 1.3 million-square-foot site in Aldergrove, British Columbia. The site is one of two operating under a partnership with BC Tweed, known as the BC Tweed Joint Venture.
The license covers more than 400,000 square feet of cultivation at the site, which can, and will eventually, be expanded to the full facility. More than 100,000 live cannabis clones were flown to the site from Tweed’s Smiths Falls growing campus.
“A cultivation license for our first BC Tweed site positions us to continue this trend as Canada’s, and indeed the world’s largest, most reliable and most diversified producer and seller of high quality regulated cannabis.” – Mark Zekulin, Canopy Growth president, in a press release
The companies turn next to a second British Columbia site, currently in development, which has a 1.7 million-square-foot greenhouse. Once approved, Canopy will have over 5.6 million square feet of cultivation space throughout Canada.
“As proud native British Columbians and long-time horticulture producers we are excited to continue the proud tradition of BC bud on a national scale. Working with Canopy Growth we’re going to take the Tweed brand to the next level on the West Coast and bring the best our province has to offer to the country and the world.” – Victor Krahn, who runs operations for BC Tweed, in a statement
Following consultation with the Investment Industry Regulatory Organization of Canada, management halted the trading of common shares on the Toronto Stock Exchange because the growth “represented a material change” in Canopy’s production capacity.
Canopy is one of six companies signed on with the government of Quebec to supply product for the nation’s forthcoming recreational cannabis market. It also holds four licenses for Newfoundland and Labrador.
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