Business
Harvest One Cannabis Takes a Faster Route to Commercialization - CFN Media
Seattle, Washington--(Newsfile Corp. - November 30, 2017) - CFN Media Group ("CannabisFN"), th...
About this update from Delivra Health Brands Inc
[{"type":"text","content":"Harvest One Cannabis Takes a Faster Route to Commercialization - CFN MediaSeattle, Washington--(Newsfile Corp. - November 30, 2017) - CFN Media Group (\"CannabisFN\"), the leading creative agency and media network dedicated to legal cannabis, announces publication of an article covering Harvest One Cannabis Inc.'s (TSXV: HVST) new plans to lease and retrofit an existing timber facility to accelerate its cannabis commercialization timeline. The article also discusses Harvest One's subsidiary Satipharm AG and its progress in advancing clinical trials of its proprietary Gelpell® delivery system for cannabinoids in the treatment of children's refractory epilepsy.New Letter of IntentHarvest One Cannabis recently announced that its wholly-owned subsidiary, United Greeneries Ltd., has entered into a letter of intent with a third party for the lease of a property in Chemainus, BC to accelerate and expand production capacity. As a previous industrial lumber kiln drying plant, the facility has an industrial power supply and usable building envelopes. The team has already begun detailed design work and commenced licensing integration activities.\"The Chemainus Facility will allow United Greeneries to capitalize on supplying the upcoming recreational market in Canada with large volumes of high quality dried cannabis buds,\" said Harvest One Cannabis CEO Andreas Gedeon. \"The company is committed to aggressively pursuing the opportunities at hand and to continue its successful approach of providing shareholders with targeted and substantial value in this thriving industry.\"Management believes that it will be able to commence cultivation activities next year with an initial annual capacity of approximately 8,000 kilograms. In terms of capital expenditure, the team anticipates covering the retrofitting costs with its current cash balance without need for additional financing. The LOI also provides UG with a lease option on a further eight acres on the site, which could be developed to ultimately produce more than 35,000 kilograms per year on a full build out and expansion basis.A Better AlternativeHarvest One Cannabis' previously planned Duncan facility expansion would have been a greenhouse operation that would have taken longer to commercialize than the Chemainus Facility. In addition to its shortened timetable, the Chemainus Facility ...