[BOT] Australian company building marijuana grow-op in Windsor - The Chronicle Herald

Tuesday, May 15 2018

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Australian company building marijuana grow-op in Windsor - The Chronicle Herald
Found: Wed May 16 02:16:37 2018 PDT
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Home ; Business ; Australian company building marijuana grow-op in Windsor
Australian company building marijuana grow-op in Windsor
Published May 15, 2018 - 3:34pm
Last Updated May 15, 2018 - 3:40pm
Canadian expansion made possible after acquiring Mernova Medicinal
Creso Pharma's cannabis production facility is currently under construction in Windsor, Nova Scotia. According to documents from the Australia-based company's website, the site is approximately 20,000 square feet and could produce between 2,000 and 4,000 kilograms of cannabis annually. (COLIN CHISHOLM / Hants Journal)
WINDSOR, N.S. - An Australian company will become a tenant in Windsor's industrial park just in time for marijuana use to become legalized .
Creso Pharma, a publicly traded company based in Australia, is hoping that the impending legalization of marijuana in Canada will be a boon for its growing cannabis industry , which includes supplying recreational and medical marijuana products.
Although the company has yet to confirm directly to the Valley Journal-Advertiser the location of the facility, construction of a large structure on Ivey Lane is emblazoned with the Creso Pharma logo.
The company's website also details progress of the new, 20,000-square-foot facility in Nova Scotia, with images that match the Windsor Business Park location.
"We are very pleased that construction of the production facility is progressing well with site works, such as the formation of roads and driveways and land excavation now complete, as well as the installation of services including water, sewer, drainage and power," Creso Pharma co-founder and CEO Dr. Miri Halperin Wernli said in a news release.
"The Canadian market represents a significant opportunity for Creso and we look forward to completing construction by (the third quarter) 2018, which will allow us to capitalize on the huge market opportunity in Canada once recreational cannabis is legalized in addition to medicinal cannabis ."
(COLIN CHISHOLM / Hants Journal)
Creso's expansion into Canada was made possible after acquiring Mernova Medicinal Inc., a Nova Scotia-based company, which is now a subsidiary of Creso.
According to documents on Creso's website, the facility is expected to be complete around July 2018, when the federal government is expected to pass its cannabis legalization bill, and legal, recreational marijuana will be available to the public.
Mernova Medicinal Inc. is also said to be working with federal and provincial governments to best position its branding, packaging and marketing to line up with anticipated guidelines.
Documents on Creso's website say that Mernova is actively recruiting key personnel, although the number of employees that would work at this facility is unknown at this time.
Once completed, the facility is expected to produce between 2,000 and 4,000 kilograms of cannabis annually. And the facility could grow in size in the future.
According to the document, Creso and Mernova have also agreed to exercise the right of first refusal option on the adjoining land parcel to allow Mernova to expand the facility to up to 200,000 square feet. The company says this will allow the plant to scale with demand, once cannabis is legalized in Canada.
The document also states that Deloitte Canada, a consulting firm, has projected Canada's recreational marijuana use market to be worth between C$4.9 billion to C$8.7 billion annually. Various other industry estimates have also placed the total market size, including ancillary products and services, to total more than C$20 billion.
Canada currently has 58 licensed medicinal cannabis producers and 235,621 registered patients (as of September 2017), according to Creso.
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