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news : June 4, 2018

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3-Stooges-Nyuk-Nyuk-Nyuk   Wednesday, 07/04/18 02:59:13 PM
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news : June 4, 2018
Here is a translation of the article: Major investment in Hemmingford: $ 12 million for the construction of cannabis greenhouses Photo by Jacques Larochelle Jacques Larochelle jacques_larochelle@coupdoeil.info Wednesday, July 4, 2018, 6:00 am Comment Major investment in Hemmingford: $ 12 million for the construction of cannabis greenhouses A typical greenhouse for the production of medicinal cannabis. Photo credit: courtesy A text by Jacques Larochelle Economy - Matica Enterprises of Toronto will build one million square feet of greenhouses in Hemmingford Township for medicinal marijuana production. The first phase of the project, which begins these days, consists of the construction, at a cost of $ 12 million, of 200,000 square feet of greenhouses on a five acre acreage on a 181 acre property. Purchased by Matica, this land is on Back Bush Road between Route 219 and Rang 3. It is actually the former Gravel Orchard. The company has received support from the Municipality of Hemmingford Canton who has been supportive of the project and very cooperative. Mayor Paul Viau said he was welcome because cannabis will be legal in the coming months and Matica has an excellent project. For now, it will be medicinal marijuana, but recreational cannabis production may come later. The law legalizing cannabis in Canada was passed by the House of Commons on June 18. Marijuana will be allowed for recreation as of October 17. Boom in Canada Matica says it chose Hemmingford Canton, because it has an ideal microclimate for cultivation, that access to groundwater and a 600 amp power line is readily available, that it is close to Montreal, and that the Land price is reasonable. The greenhouses will measure 100 feet long by 42 feet wide. In the coming weeks, the land will be developed and at least 25 greenhouses are expected to be built by the end of October. If the project is complete, we are talking about nothing less than 250 greenhouses! Matica was particularly interested in starting cannabis production in Quebec because there are only six companies that have Health Canada production licenses in the province compared to 59 in Ontario. The market potential is therefore very important. In total, just over 100 permits for the production of medicinal cannabis have been issued so far for the entire country. The $ 12 million of the first phase of the project, which will create about 50 full-time and part-time jobs, is just the beginning. The staff will be recruited mainly in agricultural schools. For now, the investment is modest, as already known projects, such as that of the company MYM Nutraceuticals in Weedon, Quebec, are valued at $ 200 million for a production area of 1.5 million square feet. The company is talking about creating more than 400 jobs. For its part, Hydropothicaire, already established in Gatineau, announced last December to invest $ 80 million to add a new greenhouse of one million square feet and become the largest producer of cannabis in Canada within three years. Matica Enterprises president Boris Ziger and chief financial officer George Brown on the grounds of Back Bush Road will soon see the construction of dozens of greenhouses for medicinal cannabis cultivation. Business in transformation Matica is a company that has a long history of mining exploration. She has now redeployed into cannabis production, an area where she wants to carve out an important place. On March 22, she reported taking a $ 2 million stake in Yunify Natural Technologies, a Saint-Hubert-based company specializing in the development of products such as skin creams and balms, nutraceuticals (made from food substances, such as garlic capsules that come from garlic), and nutrients for plants. She has expertise in the extraction of cannabis substances for medical use in particular. Matica will sell its production to Yunify, which will build new laboratories on or around the Hemmingford Canton property for processing. And it is Matica who, thanks to its license from Health Canada, will sell the products thus manufactured. A few months earlier, Matica had taken a 70% stake in RoyalMax Biotechnology Canada, which has a 10,000 square foot production center in Dorval. The recent renovation of the building will help cultivate medicinal cannabis. Based on the latest available financial information, Matica Enterprises has a market capitalization of $ 57 million. The company claims to be in excellent financial health and very well placed to take a leadership role in the production of medicinal cannabis and marijuana derivatives in Canada. The project in Hemmingford Canton will be very interesting to follow.



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