CannTrust cannabis project gets the green light
Oct. 10, 2017, Vaughan, Ont. – CannTrust Holdings Inc. has received its Health Canada cultivation licence under the ACMPR for its completed 250,000-square-foot Phase 1 redevelopment of its 430,000 square foot Niagara greenhouse facility.
Phase 1 was completed both on budget and on time.
CannTrust expects the first harvest from its Niagara facility in early November, with full utilization from Phase 1 expected in December 2017.
The planned Phase 2 expansion at this facility is anticipated to be completed and in cultivation towards the middle of 2018.
Phase 1 and 2 should conservatively provide the company with an additional 40,000 kilograms of annual growing capacity.
A further expansion at the Niagara facility, which is located on 46 acres of land, is currently under consideration as the company prepares to capitalize on the increased demand expected to arise as a result of the July 2018 legalization of adult consumer recreational use of cannabis.
ECONOMIC IMPACT IN NIAGARA REGION
“The expansion of our greenhouse facility together with our Health Canada cultivation licence will have a positive impact on the Niagara Region economy. It will allow CannTrust to scale our production to meet growing market demand and provide maximum value to our customers, partners and shareholders” said Brad Rogers, president of CannTrust Inc.
“Our standardized, best practices, pesticide-free products and our physician education programs continue to position us as one of the premier low-cost providers of high quality product resulting in exceptional new patient growth.”
He added that the pending legislation to legalize the adult consumer recreational use of cannabis provides a further major opportunity for the company.
With the completion of all phases of the Niagara expansion, “we plan to have in excess of 1,000,000 square feet of production capacity. This will give us the ability to acquire a substantial share of the increased demand arising from this new market.”
CannTrust has led the Canadian market in producing pharmaceutically standardized product since its inception in 2014.
As a federally regulated licensed producer, CannTrust brings more than 40 years of pharmacy and healthcare experience to the medical cannabis industry. It currently operates a 50,000-square-foot, state-of-the-art hydroponic facility in Vaughan. With this recently received Health Canada Cultivation Licence, it is set to begin production at Phase 1 of its 430,000-square-foot cultivation facility in the Niagara region.
CannTrust is committed to research and innovation, as well as contributing to the growing body of evidence-based research regarding the use and efficacy of cannabis.
Its product development teams, along with its exclusive global pharma partner, Apotex Inc., are diligently innovating and developing products that will make it easier for patients to use medical cannabis. It supports ongoing patient education about medical cannabis and have launched a compassionate use program to support patients with financial needs.