Goldleaf expands grow capacity with new 20-acre property purchase
Goldleaf Pharm, a subsidiary of FIGR Cannabis Inc., has completed the purchase of a 20-acre property adjacent to its facility in Simcoe, Ont., where it expects to build a greenhouse production facility.
"Goldleaf Pharm is advancing through focused expansion in order to meet the needs of Canadians as we prepare for the legalization of recreational cannabis in Canada," said Larry Huszczo, co-founder of Goldleaf Pharm. "The additional 20-acres of land will give us more production space with the ability to grow our current footprint to more than 700,000 square feet."
"FIGR continues to innovate by focusing on brand and product development," said Volker Lauterbach, president of FIGR Cannabis. "Closing this deal moves us toward our overall strategy and investment goal of reaching one million square feet of production space for our Ontario and Prince Edward Island locations. The Goldleaf Pharm expansion will add well-located production space to support capacity and product development."
Goldleaf Pharm is a late-stage applicant under Health Canada's Access to Cannabis for Medical Purposes Regulations for required licensing to produce and sell medicinal cannabis in Ontario.
FIGR Cannabis Inc. is a holding company that owns majority stakes in two Canadian cannabis producers, Canada's Island Garden in Charlottetown, PEI, and Goldleaf Pharm in Simcoe, Ont.
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