Toronto-based Canada House Wellness Group Inc. (CSE: CHV) is capping off the year by announcing the company just received a full license from Health Canada to sell oil, seeds, dried flower, and fresh cannabis products for medical purposes.
The company previously held a provisional license to provide cannabis through wholly-owned subsidiary Abba Medix Corp.
Canada House additionally does business through the subsidiaries Knalysis Technologies and Canada House Clinics Inc., which was formerly branded as Marijuana For Trauma and focused on serving veterans.
In a press release issued to shareholders, Canada House Chief Executive Officer Chris Churchill-Smith commented on the company milestone:
Canada Health’s primary subsidiary Abba Medix completed a first full harvest of medical cannabis at the company’s existing 22,000 square foot production facility in Pickering, Ontario last month. Additionally, Abba Medix announced $40,000 in seed sales to date through a recently launched online platform.
The acquisition of a full cannabis license follows Canada House’s $1 million deal earlier this month to acquire 54 acres of grow space in Vegreville, Alberta to produce cannabis products for both recreational and medical sales.
The full 54-acre parcel was recently rezoned by the city for cannabis production, with Canada House announcing a four-phase build project to construct a 160,000 square foot greenhouse facility on the site.
According to a statement from Churchill-Smith, the facility is expected to begin producing 2,000 kg of dried cannabis annually by the end of 2019, with a projected full production capacity of 31,000 kg each year by the completion of phase 4 in 2022.
Besides increased growth capacity for producing dried flower product, the facility is slated for additional research projects and oil extraction.
The construction of new processing and extraction facilities or acquisitions of existing buildings have occurred at a steady pace since the passage of the Cannabis Act, with companies such as HEXO Corp. (TSE: HEXO) and Veritas Pharma Inc. (CSE: VRT) both announcing large-scale deals in recent months.
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