Ontario-based 48North signed a letter of intent for ... Ontario-based 48North signed a letter of intent for outdoor grown cannabis with the Socit Qubcoise du Cannabis to supply 1,200 kilograms of marijuana from its outdoor farm in Brant County later this year. The LP aims to plant 88 acres on a farm outside Brantford, Ont., by June 1 with expectations to harvest 40,000 kg. This would become the bulk of the company’s output, which currently is around 5,000 kg from two indoor facilities, said Jeannette VanderMarel, co-CEO of 48North.
Of this, 90 per cent will be extracted for various products such as topicals and sublinguals, while the remainder will be sold as sun-grown cannabis. The cost of production is estimated at 3 cents a gram before being dried and packaged, or 25 cents per gram of dry bulk packaged, Ms. VanderMarel said.
“We’ve had very productive meetings with Health Canada and we’re super confident we’ll be able to secure our licence … in time for this year,” Ms. VanderMarel said.
“I don’t know if there is a cutoff date for us,” she said, about the company’s deadline to plant its 2019 crop, adding that some cultivars only require eight to nine weeks of growth, though this would produce just a small crop.