Liht Cannabis (CSE:LIHT,OTCQX:LIHTF) has announced it has entered into a joint venture with a private British Columbia corporation, 1186626 BC Ltd, for its second cannabis cultivation property in Chase, BC.

As quoted in the press release:


1186626 B.C. Ltd. is in the final stages of acquiring a 120 acre parcel of land zoned “Approved Use” by the Thompson-Nicola Regional District (the “TNRD”) for the purpose of developing and operating bio-secure organic cannabis production facilities of up to 486,000 square feet. The project will be financed by 1186626 B.C. Ltd with an approximate cost to lock-up stage of C$81,600,000. Ground work to commence as soon as weather permits.

Liht proposes to attach a secondary license to the Chase property, whether through extending its current late stage Health Canada application, which is attached to the Celista property (if and when it is granted), acquiring an individual secondary license or a late stage license application.

This ideal property has been selected for a number of reasons:

  • Approved Use by the TNRD
  • Close proximity to Highway 1, the main route of the Trans-Canada Highway through British Columbia, allowing for future distribution coast to coast
  • Multiple natural springs for an abundance of exceptional water
  • Labour resources from the Thompson-Nicola Region
  • Emergency services adequately meet Health Canada guidelines

Click here to read the full press release.

 

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