The Canadian demand for cannabis is massive, and not coincidentally, so are the facilities being constructed to meet that demand.
Recent estimates have the Canadian cannabis market hitting $9.2 billion by 2025. In the shorter term, analysts are predicting a shortage in the legal market following legalization day on October 17, 2018.
As Canada’s legal cannabis industry prepares for the post-prohibition era, licensed producers are investing hundreds of millions of dollars into massive state of the art growing facilities to prepare for this intense demand, and reap the benefits. Some of these mega facilities are nothing short of monolithic, with the largest of them approaching 4 million square feet.
This INNspired Article is brought to you by:
FSD Pharma Inc (CSE:HUGE) wholly owns FV Pharma, a Canadian licensed cannabis producer under ACMPR aiming to develop the largest legal indoor cannabis facility in the world.Send me an Investor KitThat’s why these facilities are filled with cutting edge growing technology, the result of millions of dollars’ worth of research and engineering. The goal for any company making one of these massive investments is to have an optimized facility capable of producing huge amounts of top quality product at a lower price per gram than their competitors.
The economies of scale
An important feature of the largest cannabis facilities is all-inclusiveness. These mega facilities include not just grow space but also processing capabilities, research and development space, manufacturing, shipping and receiving and more. This comprehensive design also allows for easier quality control and more efficient oversight. Some facilities even include their own electrical substations to produce power for their operations at a lower cost. Having the entirety of a company’s operations under one roof allows a producer to optimize the economies of scale to lower overhead costs and maximize efficiencies while providing maximum flexibility for growth and adjustment as the operation matures.
As the legal cannabis industry grows, licensed producers will need to be able to scale up their production along with it. Facilities built today need to be designed not just for the size of their current operations but also for how large they are likely to grow down the line.
The cutting edge of growing tech
The size of the operation is only one part of the equation. Having access to modern state-of-the-art equipment can make all the difference for the quality of the project as well as the efficiency and overhead cost. Medical cannabis producer Aphria Inc (TSX:APH) was able to bring production costs down 36 percent from $1.73 per gram to $1.11 per gram in 2017 by updating their growing techniques for better growing conditions.
Modern cannabis growing facilities utilize some of the agricultural sector’s most advanced vertical farming tech to optimize the growing process while minimizing energy and water usage. Integrated growing systems track and control light levels, fertilization, air filtration, irrigation timing, temperature and more while automatically making adjustments as needed. These systems cut resource consumptions and labor hours.
The specific lighting system used plays an important role in determining overall quality and efficiency of a grow operation as well. Modern LED lighting systems are able to cut down on energy consumption over high-pressure sodium lights by as much as 50 percent. Modern hydroponic systems have also been perfected over the past several decades to the point where they use a fraction of the water consumed in traditional growing methods. Moving beyond hydroponics, some facilities are now using aeroponics systems where plant roots are given water and nutrients via an atomized mist, saving even more water than with hydroponic systems.
Canada’s largest indoor growing facilities
FSD Pharma (CSE:HUGE) owns the largest legal indoor cannabis growing facility by footprint on the planet, and they’re well on their way to completing the retrofit of the facility in stages. The company is in the process of transforming a former Kraft Foods (NASDAQ:KHC) facility into the largest hydroponic indoor growing operations in the world. Located in Cobourg, Ontario, Canada about an hour drive away from Toronto, the existing facility includes 620,000 square feet of building space. The 70-acre property gives the company room to grow and FSD Pharma plans to expand to approximately 3.8 million square feet of total cultivation space. FSD’s facility includes its own sub-station capable of powering over 9 million watts of grow light bulbs as well as natural gas lines and rail lines that run directly into the facility. In addition to grow space, the facility will feature extensive research and development areas focused on the next generation LED grow lighting, nutrient testing, breeding and genetics research. The latest phase of cannabis grow expansion development is currently being financed and built by its joint venture partner Auxly Cannabis Group (TSXV:XLY).
Like FSD Pharma, Canopy Growth (TSX:WEED) has also breathed new life into an old food facility. Canopy purchased the historic site of the former Hershey Chocolate (NYSE:HSY) factory at 1 Hershey Drive in Smith Falls Ontario in 2016 and has since turned it into a 168,000 square feet grow facility on approximately 60 acres of land. The site also serves as the head office for the world’s largest cannabis company by market capitalization and features research and development space and oil extraction facilities.
Aurora Cannabis’ (TSX:ACB) flagship facility in Mountain View County, Alberta features 55,200 square feet of expandable grow space on 48 acres of property. The hydroponic greenhouse grow space features high pressure sodium lighting and is capable of producing up to 8,000 kilograms of pharmaceutical grade product each year. The facility also features a lab for the company’s unique plant tissue culture method of beginning the growing process.
Takeaway
Cannabis is now officially big business, and this means that small scale operations alone simply are not going to cut it. The biggest cannabis companies know that now is the time to establish operations that are not only big enough to meet the massive demand on legalization day, but also expandable to the point where they can serve an even larger global market in the future.
This INNspired article is sponsored by FSD Pharma (CSE:HUGE). This article was written according to INN editorial standards to educate investors.
Ayurcann Holdings Corp. (CSE: AYUR) (the “Company” or “Ayurcann”) an integrated Canadian extraction company specializing in the processing of cannabis and hemp for the production of oils and various derivative products, announces the granting of stock options and restricted share units.
The Company has announced that it has granted incentive stock options to directors, officers, employees and consultants of the Company to purchase an aggregate of 1,000,100 common shares under the Company’s Stock Option Plan. Each option is exercisable at a price of $0.16 per common share, expires three years from the date of grant and vest six months from the date of the grant.
The Company has also granted restricted share unit grants, pursuant to the Company’s Restricted Share Unit plan, dated April 1, 2021, totaling 1,548,875 to certain eligible participants.
For further information, please contact:
Igal Sudman, Chairman, Chief Executive Officer and Corporate Secretary
Ayurcann Holdings Corp.
Tel: 416-720-6264
Email: igal@xtrx.ca
Investor Relations:
Ryan Bilodeau
Tel: 416-910-1440
Email: ir@ayurcann.com
About Ayurcann Holdings Corp.:
Ayurcann is a leading post-harvest solution provider with a focus on providing and creating custom processes and pharma grade products for the adult use and medical cannabis industry in Canada. Ayurcann is focused on becoming the partner of choice for leading Canadian cannabis brands by providing best-in-class, proprietary services including ethanol extraction, formulation, product development and custom manufacturing.
Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
News Provided by GlobeNewswire via QuoteMedia
A planned business merger between two leading cannabis producers hit a small delay this week as a critical vote got moved.
Meanwhile, a cannabis retail operator elected to celebrate 420 by auctioning a cannabis-themed digital art piece using blockchain technology.
Keep reading to find out more cannabis highlights from the past five days.
Cannabis - Will The Fortune 500 Join The Party?
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
Tilray delays critical shareholder meeting
On Thursday (April 15), Tilray (NASDAQ:TLRY) announced it will be postponing its shareholder vote on the fate of its merger with Aphria (NASDAQ:APHA,TSX:APHA). It will take place on April 30 instead of April 16.
Neither cannabis company offered an explanation for the change. Tilray has asked shareholders to participate in this vote regardless of how many shares they may hold. “Tilray stockholders who have not already voted, or wish to change their vote, are strongly encouraged to do so,” the company said.
This news came days after Aphria shareholders overwhelmingly voted in favor of the business transaction, with a total of 99.38 percent of shareholders voting for the deal to continue. Confirmation from Aphria Chairman and CEO Irwin Simon indicated the partnership was en route to being complete.
This past week Aphria also released financial results for the third quarter of its 2021 fiscal year, in which the firm highlights the overall direction of the company with the Tilray deal.
“We expect to have a tremendous runway for long-term sustainable growth as we build upon our existing foundation in Canada and internationally by increasing the scale of our global operations,” Simon said in a statement.
Cannabis retailer celebrates digital trend
As part of a celebration for April 20, otherwise known as 420, Fire & Flower Holdings (TSX:FAF,OTCQX:FFLWF) announced the dissemination of a non-fungible token (NFT) digital art piece.
Cannabis - Will The Fortune 500 Join The Party?
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
Bidding for the piece, named “Non-Fungible Toke“ started at a price of C$4.20. The retailer plans to donate the proceeds to two charities, Second Harvest and Less.
The latter is designed to counter the carbon footprint of blockchain technology, a common criticism drawn against the rise of NFTs and other novel technologies.
As of 11:00 a.m. EST on Friday (April 16), the NFT bid was up to C$169.11.
Cannabis company news
- The Valens Company (TSX:VLNS,OTCQX:VLNCF) issued its financial report for the first quarter of its 2021 fiscal year. In its results, the company highlights a net revenue uptick of 24.7 percent from the previous quarter, resulting in C$20 million for the period.
- Trulieve Cannabis (CSE:TRUL,OTCQX:TCNNF) closed a public offering of 5 million subordinate voting shares at a price of C$50 each for total gross proceeds of C$287.5 million. The company celebrated its financial position after an offering in January, which will lead to the pursuit of merger and acquisition targets.
- Australis Capital (CSE:AUSA,OTCQB:AUSAF) appointed Jason Dyck as its new chief science officer and chairman of the firm’s scientific advisory board. Dyck previously served as an executive at Aurora Cannabis (NASDAQ:ACB,TSX:ACB), leading the scientific efforts for the cannabis producer. “I look forward to providing AUSA with advice and direction in its scientific efforts towards bringing innovations to market with immediate and significant commercial appeal,” Dyck said.
- Truss Beverage, a cannabis drinks venture co-owned by Molson Coors Beverage Company (NYSE:TAP,TSX:TPX) and HEXO (NYSE:HEXO,TSX:HEXO), released the details of its new lineup of infused beverages. Six new drinks will become available around the summer and are intended to pair with the season.
Don’t forget to follow us @INN_Cannabis for real-time updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Cannabis - Will The Fortune 500 Join The Party?
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
Trulieve Announces Expungement Programs in Several States as Part of 420 Celebration
Partnerships with Minardi Law , Minorities for Medical Marijuana, CultivatED, and the Georgia Justice Project will include clinics and virtual events across Florida , Georgia , and Massachusetts
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today a series of expungment clinics located throughout south and central Florida as well as virtual events in Georgia and Massachusetts . The clinics are part of the Company’s celebration of the 50 th anniversary of 420.
During the month of April, Minardi Law has hosted expungment clinics and will be hosting two more as follows:
- Releaf Patient Appreciation Day, April 17 th ( Valrico )
- First Annual 4/20 Event ( St. Petersburg Beach )
At these clinics, an attorney will be present to review records and see if someone is eligible for a sealing or expungment of their records. As part of the events, Trulieve will be helping cover the costs for finger prints, legal fees, and court costs.
Trulieve is working with Minorities for Medical Marijuana (“M4MM”) to host a 4/20 Expungement Clinic, part of M4MM’s Project Clean Slate. This event will take place on Saturday, April 24, 2021 , from 9:30am – 4:30pm at Riviera Beach City Hall. Anyone seeking to take place in this event is required to register in advance at http://trulieve.cc/expungementpreregistration .
In addition, Trulieve is sponsoring the First Friday Series , a weekly virtual event from the Georgia Justice Project to help Georgia citizens with record restrictions, and is also sponsoring the Fellowship Presentation and Expungement Clinic being offered through CultivateEd and GBLS on Friday, April 23 from 3:00pm – 4:00pm . You can register for the Massachusetts expungement clinic in advance here: HTTPS://BIT.LY/2Q655KK
“Our mission as a company has always been to improve people’s lives,” said Trulieve CEO Kim Rivers . “We’ve always been dedicated to improving the communities we call home. Partnering with Minardi Law , Minorities for Medical Marijuana, Georgia Justice Project and CultivatED on these clinics was a simple decision for us; we encourage anyone seeking help with the expungement process to attend one of these clinics in your own state to start the process.”
For more information about Trulieve and the April expungment clinics, please visit www.Trulieve.com .
About Trulieve
Trulieve is primarily a vertically integrated “seed-to-sale” company in the U.S. and is the first and largest fully licensed medical cannabis company in the State of Florida . Trulieve cultivates and produces all of its products in-house and distributes those products to Trulieve-branded stores (dispensaries) throughout the State of Florida , as well as directly to patients via home delivery. Trulieve also has operations in California , Massachusetts , Connecticut and Pennsylvania. Trulieve is listed on the Canadian Securities Exchange under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF.
To learn more about Trulieve, visit www.Trulieve.com .
View original content: http://www.prnewswire.com/news-releases/trulieve-announces-expungement-programs-in-several-states-as-part-of-420-celebration-301270340.html
SOURCE Trulieve Cannabis Corp.
News Provided by PR Newswire via QuoteMedia
Cannabis - Will The Fortune 500 Join The Party?
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
Seth Rogen’s New Cannabis Brand are Now Available at Apothecarium Dispensaries in San Francisco , Berkeley and Capitola
The Apothecarium is offering cannabis from Houseplant, the cannabis lifestyle brand founded by Seth Rogen and Evan Goldberg at its five California dispensaries. The Apothecarium has three San Francisco locations (Castro, SOMA and Marina ) and one each in Berkeley and Capitola (outside of Santa Cruz ).
“With the vast number of dispensaries in California , we put a lot of effort into identifying the right ones that align with Houseplant’s values,” said Seth Rogen , Co-Founder of Houseplant. “The Apothecarium shares the same commitment to creating a strong consumer experience that we pride ourselves on and we are thrilled to bring our three initial strains to their stores in the Bay Area.”
Houseplant is launching with three flower strains, all of which will be available at The Apothecarium, including: Diablo Wind (sativa), Pancake Ice (sativa) and Pink Moon (indica). Like their founder’s groundbreaking film “Pineapple Express”, Houseplant strains are named after weather phenomena. Each strain will be sold in a custom tin.
“We are so proud to be one of the very first dispensaries in California to offer Houseplant to our customers,” said Ryan Hudson , CEO and co-founder of The Apothecarium. “Seth, Evan and everyone at Houseplant love and respect cannabis as much as we do. We simply cannot wait to share their beautiful and delicious flowers with our guests.”
“We’ve been working with the Houseplant team for more than a year and are grateful to have a partner that shares so many of our values, including an emphasis on cannabis education, quality, reform of cannabis laws and beautifully designed, recyclable packaging.”
“Seth has been hands-on during the process, spending time with our store managers to make sure they know the products and how much care has gone into vetting and selecting the best strains. We think our guests are going to love Houseplant.”
About The Apothecarium
The Apothecarium is recognized as one of the nation’s premier cannabis dispensaries, with an emphasis on education via in-depth one-on-one consultations from highly trained cannabis consultants. The company was founded by three first cousins and two family friends in 2011. Our dispensaries are known for providing educational events that are open to the public at no cost — and for welcoming seniors, first-time dispensary visitors, and people with serious medical conditions. The Apothecarium’s flagship San Francisco dispensary was named the best-designed dispensary in the country by Architectural Digest . Patients and customers may order at our dispensaries or online for pickup or delivery at apothecarium.com [apothecarium.com] .
The Apothecarium is committed to giving back to the communities we serve. We have donated more than $400,000 in cash to community groups and nonprofits — plus more than $300,000 worth of in-kind donations.
All Apothecarium dispensaries continue to implement safety measures to protect guests and team members. Protocols include strict social distancing inside and outside the dispensaries, a mask requirement for everyone inside the dispensaries, no contact check-in procedures and ongoing sanitizing throughout the day.
CA Licenses: C10-0000523-LIC; C10-0000522-LIC; C10-0000515-LIC, C10-0000738-LIC, C10-0000706-LIC
View original content: http://www.prnewswire.com/news-releases/houseplant-launches-at-the-apothecariums-california-dispensaries-301270397.html
SOURCE TerrAscend
News Provided by Canada Newswire via QuoteMedia
Cannabis - Will The Fortune 500 Join The Party?
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
MISSISSAUGA, Ontario TheNewswire – April 16, 2021 Sire Bioscience Inc. (CSE:SIRE) (OTC:BLLXF) (FSE:BR1B) (CNSX:SIRE.CN) (“SIRE” or the “Company”) announces that Brian Nugent has resigned as a member of the Company’s board of directors (the “ Board ”). It has been a pleasure and a blessing to have worked with Brian Nugent over the past few years, his business acumen and tremendous experience will certainly be missed, SIRE wishes him nothing but the best in all his future endeavors.
About Sire Bioscience
SIRE is headquartered in Mississauga, Ontario with its wholly owned subsidiary PLANTFUEL® based in Denver, Colorado. SIRE is managed by a group of successful entrepreneurs who have extensive experience in the areas of consumer-packaged goods, manufacturing, logistics, and distribution. SIRE is a CPG life science company focused on the plant-based foods and supplements industry.
For additional information contact:
Sire Bioscience Inc.
Website: sirebioscience.com
Socials: @sirebioscience
Copyright (c) 2021 TheNewswire – All rights reserved.
News Provided by TheNewsWire via QuoteMedia