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Canadian Bioceutical Corporation's Production Facility to Cost $14M

Submitted by Marijuana News on Thu, 04/02/2015 - 08:00

The company behind a plan to produce medical marijuana products in Owen Sound now intends to spend nearly triple its original estimate to retrofit its local facility.

Scott Boyes, president of the Canadian Bioceutical Corporation, said the projected price tag for capital work at the former PPG plant in Owen Sound’s industrial park has climbed from $5 million to $13 to $14 million.

The added costs will be required, he said, so the company can develop, produce and sell alternative forms of medical marijuana — such as cannabinoid-based oils, tinctures, creams and capsules — that meet strict pharmaceutical-level standards.

“Our strategy is to focus on becoming one of the new generation of producers,” he said Wednesday.

The company is keeping a close eye on a case before the Supreme Court of Canada that could pave the way for allowing Health Canada-licenced producers to manufacture and sell medical marijuana in forms...

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URL: 
http://www.owensoundsuntimes.com/2015/04/01/medical-marijuana-production-facility-to-cost-14m

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