outdoor growing? Will happen HARVEST ONE ANNOUNCES OUTDOOR GROWING STRATEGY FOR PREMIUM CANNABIS FLOWERS AND 398 ACRE LAND PURCHASE IN STRATEGIC LOCATION
Harvest One Cannabis Inc.'s wholly owned subsidiary, United Greeneries Holdings Ltd. (UGH), has entered into a binding purchase agreement for 398 acres of agricultural land in British Columbia.
The company has been contemplating a comprehensive cannabis outdoor growing strategy for several years in anticipation of regulatory changes that could potentially allow for such operations in the future. With the announcement of a consultation on potential regulations that would permit outdoor growing for the recreational market in Canada by the federal government in November, 2017, the company is now advancing those plans.
The property is located in a unique geographical location in the province of British Columbia that displays climate characteristics during the vegetative period of cannabis which the company believes are comparable with northern California. Such climate is extremely rare in Canada and the company believes that the property may provide some of the best cannabis growing conditions on a global scale and that it will allow for the large-scale production of the highest-quality premium flowers at significantly reduced production costs compared to indoor cultivation.
United Greeneries has strategically engaged in the procurement of suitable outdoor growing varieties and has previously imported and phenotyped several long-flowering sativa and high-CBD varieties that the company believes will find strong consumer appreciation once grown under these conditions.