Harvesting of 20,000 cannabis plants is underway at LGC.....Harvesting of 20,000 cannabis plants is underway at LGC Capital's Swiss partner, Viridi Unit's Geneva growing facility
MONTREAL, Oct. 12, 2018 /CNW Telbec/ - LGC Capital Ltd. (TSXV: LG) (OTC-PINK: LGGCF) ("LGC") is pleased to announce that Viridi Unit SA ("Viridi") of Switzerland has commenced harvesting of 20,000 plants growing at their Geneva cannabis cultivation facility, consisting of 108,000 square feet of canopy.
These plants are expected to yield approximately 3,000 kg of dried cannabis flowers from this current crop for sale within Europe and for use in Viridi's broad range of product offerings in Switzerland and the European Union market.
Viridi Unit's high-CBD dry cannabis products are sold under the NΞ™ Premium Cannabis brand in over 80 retail locations across Switzerland and the EU and in their cosmetics line under the Viridi Care brand.
LGC announced a transaction on July 30th, 2018, by which LGC is to acquire a 30% interest in Viridi and a 5% royalty on Viridi's net sales. Refer to LGC's press release dated July 30th, 2018 for full details on the transaction. This transaction is subject to TSXV approval.