(LEAMINGTON, ON) – Another major greenhouse cannabis operation plans to set up in Leamington. Local greenhouse executive Peter Quiring, head of South Essex Fabricating which is one of the nation’s largest greenhouse builders, and NatureFresh Farms have entered into an agreement with Cannabis Wheaton Income.
Cannabis Wheaton will tap into Quiring’s greenhouse expertise to assist in establishing a significantly large greenhouse operation, which will be operated by the pair as a new company to be called GreenhouseCo. Financial details of the partnership were not disclosed.
Hugo Alves, Cannabis Wheaton’s president, called the joint venture a, “huge milestone for the Cannabis Wheaton story.”
In getting to know Peter during this transaction it has become clear that he possesses exceptional greenhouse and operational knowledge and his track-record as one of North America’s most accomplished greenhouse builders and operators speaks for itself. We believe that our leading cannabis industry expertise and platform combined with Peter’s proven capabilities will be a recipe for success. – Hugo Alves, Cannabis Wheaton
Initial plans will have South Essex develop, construct, and operate a state-of-the-art, purpose-built greenhouse for cannabis cultivation in Leamington. Quiring will be the new firm’s chief executive. His companies have constructed over 2,000 acres of greenhouse capacity and also own and operate 175 acres of computer-controlled greenhouses, producing bell peppers and tomatoes.
His company’s staff complement is over 600 in southern Ontario.
South Essex recently constructed the Double Diamond Farms facility, which is currently being converted to cannabis cultivation for a unit of Aphria, another Leamington grower. GreenhouseCo plans 1.4 million square feet of greenhouse to be developed on 102 acres of fully owned land in Leamington. Its operational features will include a 100% closed-loop water recycling system.
Once complete, it is expected the new company will produce approximately 120,000kg of cannabis annually initially, about half of the forecasted corporate output of Aphria. Increased production could also result by using additional technological improvements adapted from Quiring’s existing greenhouses.
GreenhouseCo said it can expand to a total of 2.8 million square feet of greenhouse cultivation. As part of its contribution to the new venture, Cannabis Wheaton will provide assistance in obtaining required licenses for cannabis cultivation and sale through its Wheaton Licensing Program.
GreenhouseCo will also pursue international cannabis-related greenhouse cultivation opportunities for joint development and opportunities to license its intellectual property relating to facility design and operation know-how.
“This joint venture is another example of the quality of partners and breadth of production diversification that Cannabis Wheaton is building out for its upstream production platform,” said Alves. “This is an exciting project, both in terms of its scale and technological sophistication, and we are honoured to be partnering with the best in the business to ensure that this facility becomes one of the largest and best run greenhouse cultivation facilities in the country.”
Cannibis Wheaton’s share price closed yesterday at $1.67, down from its 52-week high of $3.35, but still ahead of its 52-week low of $0.15. Aphria’s share price ended the day at $14.45, down 48 cents on the day.