Becoming a Low-Cost, High-Quality Cannabis Producer in British Columbia
Lotus Ventures Inc (CSE:J, FRA:LV9, OTC:LTTSF) is a Canadian licensed producer pursuant to Health Canada’s Cannabis Act and Cannabis Regulations. The company is focused on producing low-cost, premium-quality cannabis at its 22,500-square-foot state-of-the-art indoor cultivation facility near Armstrong, British Columbia. To date, Lotus has been granted its Standard Cultivation license as well as its Sale for Medical Purposes license.
In addition to obtaining the appropriate licenses for the company’s initial cultivation facility (Phase 1A), Lotus has also submitted the designs for an additional facility to the local municipality. The subsequent facility is expected to use an automated hydroponic growing method, adding significant production capacity per year. Lotus owns a 23-acre property and intends to continue the buildout of future production facilities.
Lotus Ventures Inc. Company Highlights
- Lotus received a $5M investment from Auxly Cannabis Group Inc. to help fund its initial facility.
- The Company is debt-free.
- Initial facility of 22,500 square feet is complete and is expected to produce 2,000 kilograms per annum.
- Licensed Producer holding a Standard Cultivation license and Sale for Medical Purposes license – obtained in March 2019.