MTL Cannabis to acquire Canada House
August 9, 2021 By Grow Opportunity staff
Montreal Cannabis Medical Inc. is looking to increase their Quebec cultivation footprint with the acquisition of Canada House Wellness Group.
MTL Cannabis calls this transaction a “reverse takeover” of the Canada House company. MTL Cannabis will acquire an additional 57,000 square feet of cultivation space and an annual capacity of 13,000 kilograms of dried flower.
The company has recently expanded to a new facility in Pointe-Claire, Que., which has 58,000 square feet of cultivation and production space.
“We are excited at the prospect of growing our distribution reach and capabilities by joining forces with Canada House’s teams at Abba Medix, Canada House Clinics, and IsoCanMed,” said Rich Clement, CEO of MTL Cannabis, in a company statement.
“Being able to commercially scale our dried flower, while supporting patient care and Canada House’s Veteran program across Canada is something that we are excited to do. With the Québec medical market still in relative infancy, we are looking forward to bringing Québec Veterans and patients the support and products they need and deserve.”
In addition to increased production capacity, the acquisition of Canada House will also bring with it, the company’s experience operating teams, its sales and processing licensing capabitilities, its retail sales portfolio and its network with 14 direct-to-patient locations across the country.
Print this page