Canopy Growth secures licence for 10th cannabis production facility

Cannabis

One of Canada’s biggest cannabis production companies has passed another milestone with the establishment of its 10th licensed production facility.

Canopy Growth Corp. of Smiths Falls announced it has partnered with Montreal-area tomato greenhouse operator Les Serres Stéphane Bertrand to grow cannabis for the Quebec market.

The new joint venture, called Les Serres Vert Cannabis, received a cultivation licence from Health Canada on May 25. Les Serres Stéphane Bertrand, which grows organic tomatoes, will convert its 700,000-square-foot greenhouse in Mirabel, Que., into a cannabis production facility that’s initially licensed to grow pot on 40,000 square feet of space.

“This licence is our latest successful step as we execute our vision for a reliable supply chain for Canadians,” said Canopy Growth president Mark Zekulin in a statement.

The Smiths Falls company, the first publicly traded cannabis company in North America, has seen its total licensed growing space triple in 2018 to more than 2.4 million square feet.

Also this week, Canopy announced that a leading Canadian cannabis researcher is joining the company as chief medical officer.

Dr. Mark Ware, an associate professor of family medicine and anesthesia at McGill University, will assume the job July 1.

Ware served for a decade as executive director of the non-profit Canadian Consortium for the Investigation of Cannabinoids and is also a longstanding board member of the International Association for Cannabinoid Medicines. In 2016, he served as vice-chair of the government of Canada's task force on cannabis legalization and regulation. Ware will take a leave of absence from McGill to work with Canopy.

Canopy Growth is not the only cannabis corporation seeing rapid change as marijuana legalization nears on the horizon in Canada.

Earlier this month, Vancouver’s Aurora Cannabis completed its acquisition of rival CanniMed in the biggest cannabis deal in the industry’s history, a transaction valued at $3.2 billion. Meanwhile, Calgary-based company NewLeaf received a $7-million loan and almost $2 million in investments from Ottawa’s National Access Cannabis to help the company expand its cannabis retail locations across Alberta.

Another Ottawa firm, cannabis investment company CannaRoyalty, recently announced a partnership with San Francisco delivery company Posh Green as part of its continued efforts to grow the cannabis market in California and around the world.