LGC Capital (TSXV:LG) announced the Tricho-Med Corporation in Quebec, will seek to increase the scale of its operations with new land options.
As quoted in the press release:
Tricho-Med Corporation (“Tricho-Med”) in Quebec, Canada now plans to increase the scale of its operations with new land options to over 2 million square feet of gross building areas, power availability permitting, of controlled atmosphere production capacity. Official ground-breaking for the first phase of 34,000 square feet is expected to occur in the next few weeks, with the steel structure and building envelope planned for completion October 2018.
Tricho-Med is currently embarking on the first phase of its development with the construction of its state-of-the-art 34,000 square foot fully enclosed growing facility, in Brownsburg, Quebec, located 25 miles north west of Montreal.
LGC entered into a four-year secured convertible loan agreement with Tricho-Med in the amount of CAD $4 million, which will be disbursed in accordance with a pre-agreed milestone disbursement schedule.