Cannara Biotech is building a vertically-integrated cannabis company focused on cultivating and developing cannabis-infused products at their 625,000-square-foot indoor cultivation facility – one of the largest in Canada and largest to date in Quebec. Once operational, the facility will contain 500,000 square feet of production space, 100,000 square feet of processing space and will have an annual production capacity of 100,000 kilograms of cannabis.
Through Cannara’s collaborative corridor initiative, the company intends to lease space to product manufacturers developing cannabis-infused products and expedite them to the market. Cannara is currently in discussions with partners to produce edibles, pet products, cosmetics, beverages and more within the facility, once the appropriate regulations come into effect.
In addition to their facility in Quebec, Cannara has entered the US hemp and cannabidiol (CBD) market through the e-commerce platform, shopCBD.com, which will showcase hemp and CBD manufacturers throughout the US. The site will offer tinctures, oils, capsules, body care, vape cartridges and pet-related products to US consumers.
Cannara’s company highlights include the following:
- Canadian cannabis sales expected to reach $7.17 billion in 2019.
- Quebec’s recreational cannabis market expected to generate between $420 million and $1 billion in sales in 2019.
- Quebec has lowest cost per gram and electricity rates in Canada.
- 625,000-square-foot indoor, multi-purpose cultivation facility under construction in Farnham, Quebec.
- Phase one construction fully-funded. Phases two and three to be funded through tenants.
- IP portfolio with 19 filed patents and 40 granted domain names and trademarks.
- Seven brands across medical, recreational, pet care, cosmeceutical, beverage and edible markets.
- Ongoing R&D to develop new products and formulations to address consumer demand.
- US hemp-derived CBD market is expected to reach $22 billion by 2022.