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Terra Life Sciences adds 230,000-sq-foot to its cannabis cultivation operations


March 27, 2018
By Grow Opportunity Staff

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CALGARY – Terra Life Sciences Inc. is set to begin construction of phase two of the company's medical cannabis cultivation operations – the Terra Quantum facility – following approval by its board of directors.

The new 230,000-square-foot Terra Quantum facility will be built on the Terra Life Sciences property in Olds, Alberta, adjacent to the company’s existing manufacturing operations, and will greatly expand the company’s cultivation capacity. The company’s first cultivation facility, a 50,000-square-foot building, is nearing completion.

“With the approval of the project by the board we are now moving very quickly to identify and select the company to help us build Terra Quantum, with a scheduled start date for construction early in the second quarter of this year,” said Dr. Anil Jain, president and chief executive officer of Terra Life Sciences.

Funding for the expansion of the company’s cultivation operations is being provided through a recent $46 million private placement. That funding is also supporting the company’s investments in clinical trials and expansion of its research capabilities, the company said.