Tilray (NASDAQ:TLRY) announced an investment of US$32.6 million in to increase its Canadian production efforts.
As quoted in the press release:
This investment will expand Tilray’s total production and manufacturing footprint from 1.1 million to 1.3 million square feet worldwide.
High Park Gardens – Leamington, Ontario
As a result of the investment announced today, High Park Gardens will add an additional 127,000 square feet of production space. Once the expansion is complete and licensed by Health Canada, High Park Gardens’ footprint will increase by 82 percent, utilizing up to 282,000 square feet of state-of-the-art cultivation space with room to expand further in the future. The expansion project is expected to create more than 40 job opportunities over the course of the next year.
High Park Processing Facility – London, Ontario
As a result of the investment announced today, High Park London will double in size from 56,000 square feet to 112,000 square feet. The expansion project will enhance the site’s R&D, processing and packaging capabilities and is expected to generate 60 additional jobs.