Canopy Growth Receives License for 1.3 Million Square Foot Cultivation Facility

Canopy Growth Corporation (TWMJF) announced today that it has received a license for its cultivation facility in Aldergrove, British Columbia. Operating under the previously announced BC Tweed Joint Venture Inc. banner, the site is set to become one of the largest cannabis cultivation facilities in the world.

The initial license will cover approximately 400,000 square feet of growing space, but it is expected to expand into 1.3 million square feet over the comings month in time for the flowering and harvest stage of cultivation.

On. Feb. 16, 2018, upon learning that it had been issued a license and after consulting with the Investment Industry Regulatory Organization of Canada, the company decided to temporarily halt the trading of its common shares on the Toronto Stock Exchange as the license represented a substantial change in the company’s production capacity.

In a statement, Canopy President Mark Zekulin praised his company’s progress in the retail cannabis landscape.

“We are the only producer in Canada who can make this claim and we will continue to leverage our production platform in order to solidify a truly national presence for our cannabis brands,” Zekulin said. “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.”

Over the weekend, the company shipped more than 100,000 cannabis clones, the largest shipment in company history, to the facility from its Tweed Smith Falls Campus to help kick-start the cultivation process.

With the Aldergrove facility now operational, the company plans to turn its focus to a second cultivation facility in British Columbia. With construction well underway, the facility is expected to have approximately 1.7 million square feet of growing space; bringing the company’s total available growing space to 5.6 million square feet.

“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,” added BC Tweed’s Victor Krahn. “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.”

William Sumner

William Sumner

William Sumner is a freelance writer specializing in the legal cannabis industry. You can follow William on Twitter @W_Sumner or on Medium.


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