iAnthus Capital Holdings (ITHUF) recently broke ground for its new medical marijuana facility in Warwick, New York. The company and its subsidiary, Citiva are celebrating the groundbreaking of its medical cannabis facility.
Citiva is one of only ten licensed medical cannabis producers in New York State. This location used to be the Mid-Orange Correctional Facility, and will eventually support up to 125,000 square feet of total cultivation and processing space, with an estimated yearly medical cannabis production of 2,400 kg.
“We’re excited to be taking the first steps in building out our robust and comprehensive medical cannabis program in the State of New York. The iAnthus and Citiva teams have worked incredibly hard to reach this milestone,” said Hadley Ford, CEO of iAnthus Capital. “The growth and success of our Warwick facility will lay the foundation for the rest of our operations across New York State, and we look forward to continued expansion, development, and most importantly, service to our patients, through our vertically integrated operations.”
According to the company statement, Phase 1 of the buildout is projected to be completed in the first half of 2019. The Warwick site can eventually support up to 125,000 sq. ft. of total cultivation and processing space and will be built out in several phases. Citiva purchased the eight and a half acres of land for the Warwick facility in May of 2018 for US$526,000.
“Warwick is pleased to welcome one of the nation’s leaders in the medical marijuana industry to the Warwick Technology Park and is honored that Citiva has found a home in our town,” said Michael Sweeton, Town of Warwick Supervisor. “Our goal in acquiring the Mid-Orange Correctional Facility was to bring well-paying jobs to the area, and we look forward to seeing this come to fruition through the official groundbreaking of Citiva’s medical cannabis facility.”