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Home 🌿 Marijuana Business News 🌿 Tree Farm Going to Pot as Canada Weed Growers Eye Legalization 🌿Tree Farm Going to Pot as Canada Weed Growers Eye Legalization
- DelShen Therapeutics plans cultivation former state tree farm
- Prime Minister Trudeau has pledged to legalize marijuana
A former state-owned tree farm in northeastern Ontario will soon be growing medical marijuana, according to one of a group of Canadian companies that’s trying to capitalize on booming demand and the potential for full decriminalization.
Toronto-based DelShen Therapeutics Corp. is spending C$8 million ($6 million) to retrofit a 40,000-square-foot factory near Kirkland Lake into a facility that will eventually produce 13,000 kilograms (28,660 pounds) of medical marijuana a year, said Chief Executive Officer Barry Kurtzer. The company is awaiting final approval from Health Canada and forecasts the project will generate C$21 million in sales in its first year.
The country amended its medicinal marijuana regulations last year and Canadians, who previously could grow their own, can now use their prescription to order the drug through...
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