A major Canadian producer of greenhouse-grown fruits and vegetables plans to turn at least one of its B.C. greenhouses into an enormous marijuana production facility.
Village Farms, based in Delta, B.C., has announced a joint venture with Emerald Health Therapeutics, the parent company of licensed medical cannabis producer Emerald Health Botanicals, also based in B.C.
Under the terms of the deal announced late Tuesday, Village Farms will provide Emerald with an existing 1.1 million square foot greenhouse in Delta, in exchange for $20 million cash and a 50 percent stake in the joint venture. If approved and licensed by Health Canada, the greenhouse could yield more than 75,000 kilograms of marijuana per year, the companies say.
Source: Cannabis Business Times