HomeMy WebLinkAboutClinton News Record, 2016-08-31, Page 19Wednesday, August 31, 2016 • News Record 19
Kincardine's 7 ACRES hybrid greenhouse marks first harvest of medical cannabis
CONTINUED FROM > PAGE 18
"On one hand it's a disap-
pointing decision for the
medical cannabis industry
internationally and the
pace of research that is
needed to really help out
sick people," he said. "How-
ever, for Canadian busi-
nesses like Supreme and
other federally licensed
businesses in Canada, the
decision means additional
time where we can grow
our businesses and prosper
without direct competition
from the United States. So
possibly that has massive
benefit for Canadian busi-
ness and jobs."
As an example, Fowler
said California and
Canada are about the same
population -wise, yet Canada
has about 30 marihuana
companies to California's
3,000, which is an example
of the market scale and
potential between the two
countries. But he said as
long as it's federally illegal in
the United States, it's harder
to raise financial capital to
do a large-scale greenhouse
such as 7 ACRES, which
allows for business to grow
in Canada.
"Every day that marihuana
remains a Schedule 1 drug in
the United States is an eco-
nomic win for Canada."
When Phase 1 is com-
pleted by next year, 7 ACRES
will be one of the top three
producers of medical mari-
huana capacity in Canada,
he said. By full capacity
(Phase 5), they will be the
"most productive marihuana
facility in the entire world by
total output," Fowler said.
For example, Fowler said,
their goal for the
310,000 -square -feet of grow
space is to produce between
50,000 and 100,000 kilo-
grams per year. Their most
recent competitor's
50,000 -kilogram goal will
require 1 -million -square -
feet of space.
"So we are three to six
times more efficient per
square foot," he said. "So at
full capacity there are a few
properties that are bigger,
but we believe we are the
biggest by output, which
should matter to share-
holders in terms of eco-
nomic returns, to clients in
terms of stability of supply
and to stakeholders in
terms of jobs and local
investment."
The efficiency comes from
the greenhouse's `hybrid'
of professionalizing the
business and of acting in a
manner becoming of a
much more mature busi-
ness," he said. "It's just fan-
tastic what they've
achieved, not just the out-
put of the first crop, but the
level of compliance and
innovation and improve-
ment we've had, even over
our first half-year of culti-
vation. In addition, more
A cannabis plant.
design that allows for the
benefits of growing indoors
but also uses a combination
of grow lights and natural
light.
"What our first crop is
starting to prove for us is
the hybrid system works.
It combines the benefits of
indoor and the benefits of
greenhouse while mitigat-
ing the negatives of each,
and the result is a net ben-
efit - high quality product,
high output, with low
cost."
Fowler commended the
staff and management at the
Kincardine facility as well,
for making it happen in a
way that has allowed the
company to move forward
swiftly.
"The team has done a
great job of transitioning
into production,
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E E114TE
LTL
than half the staff and the
senior management team
have invested their own
money into the current pri-
vate placement so they can
own a piece of what we're
1 l l 1
all building together."
Fowler said the
most recently private
investment numbers rep-
resent a $500,000 invest-
ment
from their staff, as well as
nearly $2 million from
across Bruce County.
"It's truly a local busi-
ness... proudly rooted in Kin-
cardine," he said.
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