CannTrust Closes Purchase of 81 Acres for Outdoor Grow
Increased Capacity Represents Next Step Towards Leadership in Low-Cost Extract Production.
CannTrust Holdings Inc. is pleased to announce that it has closed the first of its previously announced transactions to acquire 200 acres of outdoor cultivation land. The Company has purchased four parcels of land for cash, representing 81 acres of land, to advance its outdoor cannabis cultivation operation in BC
(It has been reported to ODN that at least two separate lots in the Oliver area have been purchased near Rd 18 and Rd 21.)
No confirmation from the company has been received. Inquiries have made with the RDOS but word is that outdoor cultivation is not subject to Regional District approvals.
“We are very pleased to be executing on our plans to increase capacity through outdoor cultivation. Cannabis harvested from this new location will be used to produce the Company’s award-winning oil products as well as its future product innovations as Canadian regulations expand to include new product formats. Additional land is intended to be secured by the Company, which will bring outdoor cultivation to 200 acres, and will lead to total annualized production capacity of between 200,000 kg and 300,000 kg for the Company.
CannTrust has commenced fencing of the property, installation of security systems and other infrastructure required for commercial production.