The province of Newfoundland and Labrador is one step closer to choosing its first licensed producer of medical marijuana.
According to a new release issued Monday, Argentia Gold Corporation recently received a file number from Health Canada. The company is also moving towards becoming a licensed medical marijuana producer operating under federal regulations. The company will convert the former American Navy Mess Hall, an 80,000 square foot concrete building, into a full-scale production facility. Adjacent land is also available for potential expansions. The construction of the massive facility will employ at least 50 workers and generate 130 jobs once operational.
“We are on schedule to have the facilities completed in May of 2018 and be ready to receive a license to produce cannabis.” Says company president William higgs
Higgs is an outside investor working with two local businessmen to form a partnership on the project. What began as a longshot, became reality as they worked hard to attract investment dollars to Newfoundland and Labrador. Adrian “Ed” Maher, one of the partners, says he didn’t think he friend was serious during initial conversations. But after seeing the dollars invested in the rest of the Canadian industry, he was quick to get involved. He says,
“Everyone has been eager to support this new industry coming to Placentia Bay and are encouraged that we have the financing and wherewithal to see this plant completed in time for changes to the marijuana laws in Canada.”
N.L. Looks to Ontario to Provide Recreational Cannabis
This announcement comes after Ontario based company Canopy Corp. promised to supply the province with up to 8,000kgs of dried cannabis. This supply will operate under a two-year agreement, with an optional one-year extension and the product being supplied by an outside facility. The cannabis giant also promised to build a $55 million dollar production plant by 2019. This facility is estimated to produce 12,000 kilograms of Cannabis annually and operate for a minimum of 20 years.