MedReleaf Purchases 1M sq. ft. Greenhouse Cultivation Facility | CashCropToday
0 Shares 168 Views

MedReleaf Purchases 1M sq. ft. Greenhouse Cultivation Facility

February 26, 2018
168 Views

MedReleaf Corporation (TSX: LEAF) has announced the purchase of a 1 million sq. ft. greenhouse cultivation facility in Ontario, Canada. The acquired property already has the necessary infrastructure built out and also, adds to MedReleafs growing cannabis operations within Canada.

The 69 acre property, called the Exeter Facility, and 95 acres of adjacent land was acquired for $21.5 million in cash and 225,083 common shares of MedReleaf stock. The new facility has the capacity to produce 105,000 kg of cannabis a year, bringing the total capacity for MedReleafs output to surpass 140,000 kg of cannabis annually. The purchased additional 95 adjacent acres of land has the ability to accommodate a greenhouse facility almost twice the size of the Exeter Facility.

The company is fully funded to complete the Exeter Facility’s existing one million square feet of greenhouse, a new processing building, general site infrastructure upgrades, and site security. The newly aquired greenhouse will  incorporate state-of-the-art technology, supplemental lighting, irrigation, and fully automated growing systems.

You may be interested

Canada Officially Legalizes Recreational Cannabis
Politics
34 views
Politics
34 views

Canada Officially Legalizes Recreational Cannabis

Editor - June 20, 2018

The Canadian government has officially passed Bill C-45 yesterday, better known as The Cannabis Act. Now legislation has been set in place by the country's Senate and…

California Based Edible Company Signs LOI For the Chance to Go Public in Canada
Market Watch
51 views
Market Watch
51 views

California Based Edible Company Signs LOI For the Chance to Go Public in Canada

Editor - June 20, 2018

The Bhang Corporation, a privately-held cannabis edible and accessory company with operations out of California, has entered into a LOI (letter of intent) with Canadian public company…

Portugal’s Parliament Legalizes Cannabis as a Prescribed Medicine for Patients
Global
85 views
Global
85 views

Portugal’s Parliament Legalizes Cannabis as a Prescribed Medicine for Patients

Editor - June 19, 2018

Last week, Portugal's Parliament voted upon the right for its citizens to receive and gain prescriptions to cannabis-based medicines from their doctor. The move is expected to help…

Leave a Comment

Your email address will not be published.

Most from this category

%d bloggers like this: