Cannabis Wheaton Income (TSXV:CBW) provided a development update with the joint venture alongside FV Pharma.
As quoted in the press release:
The FV Pharma facility (the “Facility”) is located in Cobourg, Ontario and hosts an existing 620,000 square feet of building space, a portion of which is currently licensed for cultivation pursuant to the Access to Cannabis for Medical Purposes Regulations.
Pursuant to the Company’s agreement with FV Pharma, in exchange for access to the Cannabis Wheaton platform which includes ongoing financial, design and operational support and expertise, Cannabis Wheaton will receive a 49.9% stream of all cannabis (or cannabis-derived products including any immature cannabis plants and any cannabis trim) produced at the Facility, under partnership with Cannabis Wheaton, in perpetuity.
The Company is pleased to announce that is has chosen Cornerstone Builders Ltd. (“Cornerstone”) as the design builder for the FV Pharma Facility. A specialist in commercial and industrial foodservice design—build projects, Cornerstone has decades of experience managing complex engineering and buildouts across North America. Notable large-scale design-build projects include the Sysco distribution warehouse in Woodstock and multiple buildouts for Home Hardware across Canada.