It looks like there will be another cannabis production facility in Newfoundland and Labrador.
Toronto-based company FSD Pharma is making plans to open a production facility in Conception Bay North. The company announced a $40 million investment to drive production and sales of legal cannabis in this province.
“Newfoundland is a fantastic province with outstanding, highly skilled people,” said Thomas Fairfull, President and CEO, FSD Pharma Inc. “This is another expansion milestone for FSD Pharma as we continue to grow our production and distribution footprint nationally.”
Phase one includes construction of a 45,000 square foot production facility in freshwater – the site is expected to create 200 local, management and construction jobs through a phased expansion approach.
Phase two includes further expansion, an indoor grow facility up to approximately 300,000 square feet. The site will initially be leased but FSD has the option to purchase the site at any time for $1.5 million.The closing date is expected to occur before August 31, 2018.