Alliance One International, Inc. (NYSE: AOI) announced this morning that the company will make a $35M investment into its indirect subsidiary, Canada’s Island Garden, to make a considerable increase in operations to support the growth of its Canadian cannabis line. Canada’s Island Garden is located on Prince Edward Island in the Northeast part of the country.
The plan for expansion will increase Canada’s Island Garden’s production capacity of both recreation and medicinal cannabis. Phase 1 of the expansion includes the buildout of a 166,000-square-foot greenhouse and 54,000-square-foot warehouse. The warehouse will also accommodate Phase 2 of the expansion, which would add an additional 90,000 square feet of greenhouse space.
Phase 1 will increase the facility’s annual production capacity from 1,200 kilograms to 18,000 kilograms and is expected to be complete in spring 2019. Assuming completion of Phase 2, Canada’s Island Garden would have a total annual production capacity in excess of 35,000 kilograms.
Both phases of expansion are being designed to hold the latest technological advancements in cannabis production. This will allow Canada’s Island Garden tothe produce a premium-quality and sustainable product for consumers in Canada. The company’s aim is to create a comprehensive trail of transparency and traceability, from plant to final product.