Source: GrowForce Holdings Inc.
WINNIPEG, Manitoba, May 15, 2018 (GLOBE NEWSWIRE) -- GrowForce Holdings Inc., a new Canadian cannabis company, announced today it will open its flagship cannabis cultivation facility in Winnipeg as part of its nationwide expansion plans. This is the third GrowForce facility in Canada.
The company will turn a 120,000 sq. ft. facility on 13-acres of land located in the St. Boniface Industrial Park into an industry-leading, ACMPR-compliant cannabis production facility. GrowForce expects the facility will employ 150 to 200 people by the time it is fully operational.
The facility renovations have begun and will be completed in phases over the next 18 months. The company expects to begin growing its first ACMPR-licensed crop by Fall 2018, and shipping to medical and retail purchasers in 2019.
“We looked at several cities before selecting Winnipeg. We were impressed by the entrepreneurial culture we found here alongside a large skilled workforce, strong universities and colleges as well as relatively low hydroelectricity rates,” said Rishi Gautam, GrowForce Holdings Chairman and Chief Executive Officer. “We want to source locally as much as is feasible, partner with the community and create jobs in every area including operations, research and development, and pharmacy. We look forward to setting down roots here and growing into a national leader in our industry.”
GrowForce has already purchased two facilities: including ACMPR-licensed WILL Cannabis in Brampton, Ontario and GrowForce GRO in Dunnville, Ontario which is a late stage Health Canada applicant. WILL Cannabis’ license allows GrowForce to operate other ACMPR-licensed sites, including the new Winnipeg facility.
The company has entered into an exclusive turnkey management agreement with MJardin Group, North America’s largest legal cannabis operator, to operate its facilities in Canada, including its new Winnipeg operation. MJardin will share its intellectual property with GrowForce including access to its industry-leading education and training methods. Based on MJardin’s research-backed and historically-proven production abilities, GrowForce anticipates it will be producing over 900 kg per month once the Winnipeg facility is at full capacity.
“Our goal is to become one of the premium licensed cannabis producers in Canada and other federally legal markets worldwide,” said Jeanette Harkin, GrowForce’s Vice President of Corporate Development. “MJardin has proven cannabis operating expertise, and is supporting GrowForce’s plan to invest in building our capacity here in Canada through partnerships with First Nations, universities and colleges.”
GrowForce is fully-financed with commitments of over $75 million to date from a number of sources including Bridging Finance Inc., one of Canada’s premier private debt financiers. Through an established infrastructure fund, GrowForce plans to build a vertically integrated cannabis operation across Canada.
GrowForce is a Canadian-based cannabis platform that operates within Health Canada’s Access to Cannabis for Medical Purposes Regulations. The company owns a majority interest in flagship cannabis facilities operated through Health Canada’s ACMPR, with strategic partnerships for turnkey operations, proprietary software and training, and project financing. GrowForce’s flagship facilities are intended to be operated by MJardin Group, North America’s largest turnkey operator of legal cannabis facilities, and financed by Bridging Finance Inc., Canada’s leading provider of private credit. For more information, please visit https://www.growforce.ca.
Delta Hirsch, Dooley Communications
A photo accompanying this announcement is available at http://resource.globenewswire.com/Resource/Download/ec91502f-9db6-4234-ba02-b955e00c016a