THC Global acquires site in Canada for cannabis production pro...

THC Global acquires site in Canada for cannabis production
pro active investors 26th March 2019


Stage 1 initial annual yield expected to be 37,000 kilograms dried cannabis flower with an estimated revenue of $287 million.

THC Global Group Ltd (ASX:THC) has completed the acquisition of a Canadian company in the process of becoming a licenced cultivator at a site in Nova Scotia, Canada.

THC Global intends to stage the development of the project with the first stage focussed on delivering profitability in the near term, with an expected 37,000 kilograms annual dried cannabis flower production volume.

The current price of cannabis in Canada is C$7.12 per gram hence the company’s 37,000-kilogram annual production volume will be worth an expected C$273 million (about $287 million).

The proposed initial stage facility is expected to have a footprint of 20,000 square feet, however, the total size of the land acquired is about 4 acres allowing for significant scalability of THC Global’s operations at this location.

Negotiations for off-take agreements are also underway for both initial dried flower production and for proposed value-added manufacturing of cannabis into other products.

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