My Marijuana plans to be cultivating and harvesting dried marijuana by the second half of 2015.
The company has filed its building license application to build a 20,000 square foot indoor growing facility near Maple Ridge, British Columbia. Following building approval and completion of the growing facility, the company will apply for a Producer's License, which management hopes to receive by early 2015. In the event that the company is granted a Producer's License, My Marijuana plans to be cultivating and harvesting dried marijuana by the second half of 2015.
The company recently acquired the property to house its growing facility for a purchase price of $844,900, making a deposit of $300,000 with the balance secured by a mortgage for $544,900. My Marijuana has indicated that it is currently seeking a private placement financing of up to $1.4 million.
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