The building was purchased from a group of investors that included Bruce Linton, chairman and CEO of Canopy Growth, and the Smiths Falls-based Guy Saumure company. The medical marijuana facility was previously a mere tenant of the space, taking up one-third of the building’s entire 472,000-square-foot footprint.
The newly acquired space could house hundreds of thousands of square feet of additional production and processing space, either indoors or in greenhouse growing platforms, the company said.
“Increasing the scale of our cannabis production capacity is vitally important to our operations,” Linton said.
“Even as a diversified producer using greenhouse growing and indoor growing facilities, we know there will be a need for commercial processing space that can be used to convert cannabis and cannabinoids into higher-margin products like edibles.”
He added the space also has potential to be used for producing vaporizer pens or “sophisticated medical delivery options” that may be allowed under future legal frameworks.
“Almost tripling the footprint of our headquarters means more potential for our business, for the economy of Smiths Falls, and for Tweed’s customers,” he said.
For the rest of the story go to The Financial Post