CANNABIS CULTURE – Canada’s biggest licensed cannabis producer is coming to British Columbia.
Ontario’s Canopy Growth Corporation has announced a new definitive joint venture agreement with an unnamed greenhouse operator in B.C.
In an October 11 press release, Canopy Growth committed $20 million to the new company, BC Tweed Joint Venture Inc., in order to convert 1.3 million square feet of greenhouse space to cannabis production. The 30-acre facility, which currently grows peppers, aims to have products ready for market by July 1, 2018.
Canopy Growth is also holds an exclusive option with the unnamed partner to develop a further 1.7 million square feet of greenhouse space in B.C.
This is the latest in a string of expansion for the company. On October 5, Valen GroWorks, a Health Canada-licensed dealer in B.C., signed a supply and sales agreement with Canopy Growth as a part of its CraftGrow program. In September 2017, Canopy Growth signed two separate international agreements with companies in Australia and Spain to provide medical marijuana to those markets.
In January 2016, the operators of Canopy Growth lobbied the federal government to shut down cannabis dispensaries across the country.