In particular, the already operating 1.3 million sq. ft. greenhouse facility in Aldergrove, BC, where 400,000 sq. ft. of canopy under glass was licensed in February, is now licensed for 840,000 sq. ft. of growing space.
The second BC Tweed site, totalling 1.7 million sq. ft. of greenhouse production space, also received a cultivation licence for its first 900,000 sq. ft. of growing space.
In total, Canopy Growth's licensed growing space has tripled in calendar 2018, to more than 2.4 million sq. ft. and remains on path to exceed 5.6 million sq. ft. of domestic growing space.
In consultation with IIROC and as a best practice, the Company decided to halt trading of its common shares on the TSX as soon as the licensing news was made public as the increased production capacity represents a material change in operations.
"This is all about focus and execution for our expanding team at Canopy Growth," said Mark Zekulin, President, Canopy Growth. "We have spent four years establishing the largest licensed cannabis production platform in the world. This afternoon with two key licensing milestones, we doubled it."
Want to learn more about our team at BC Tweed: visit us here.
https://www.youtube.com/watch?v=c9qhIX7Kk_c
Here's to Future (BC) Growth (and BC Bud).