Tilray’s recreational subsidiary, High Park Holdings announced it received a standard processing license for branded cannabis products in its London, Ontario facility.
Tilray’s (NASDAQ:TLRY) recreational subsidiary, High Park Holdings, announced it received a standard processing license for branded cannabis products in its London, Ontario facility.
As quoted in the press release:
The license will also allow High Park to conduct certain research and development activities on new cannabis form factors.
Led by High Park’s team of industry experts responsible for innovation, research and the development of High Park’s portfolio of cannabis products, the facility will be utilized to process a wide-range of finished branded products from dried cannabis into differentiated form factors such as edibles (including oils, confectioneries and beverages), topicals, and concentrates, exclusively for the adult-use cannabis market in Canada, once permitted by laws and regulations.
“This license marks another step forward as High Park increases its capacity to supply differentiated form factors of branded cannabis products for adult-use consumers in Canada,” says Brendan Kennedy, Chief Executive Officer, Tilray. “We believe great brands and products are critical in the long-term endurance of a dynamic legal cannabis industry, and we’re pleased to be well-positioned to meet the increasing demand for these products.”