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LGC Capital's leading Jamaican Medical Cannabis Company, Global Canna Labs, to plant 220,000 square feet of "premium" Jamaican cannabis over the next 6 weeks and also announces formal Jamaican deal closing
LGC Capital's leading Jamaican Medical Cannabis Company, Global Canna Labs, to plant 220,0...
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[{"type":"text","content":"\n\n\n\nLGC Capital's leading Jamaican Medical Cannabis Company, Global Canna Labs, to plant 220,000 square feet of \"premium\" Jamaican cannabis over the next 6 weeks and also announces formal Jamaican deal closing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, Aug. 30, 2018\n\n\n\n/NOT FOR DISTRIBUTION IN THE UNITED STATES/\n\n\nLGC's global growing footprint of actual plants planted will now increase to over 450,000 square feet in 5 countries by year end, excluding future expansion of GCL.\nFormal deal closes to secure LGC Capital's investment in Jamaica's Global Canna Labs.\nGCL plans to increase plants planted to around 220,000 square feet of premium Jamaican cannabis within 6-8 weeks.\nFurther expansion is planned for 2019.\n\n\nMONTREAL, Aug. 30, 2018 /CNW Telbec/ - LGC Capital Ltd. (TSXV: LG) (\"LGC\") is pleased to announce the formal closing in trust of its previously announced transformational investment in Jamaican based medical cannabis licensed producer, Global Canna Labs Limited (\"GCL\") and announces a significantly expanded planting program from previous guidance. \n\n\n \n \n\n \nProduction forecasts increased at Global Canna Labs\n\nIn July 2018, Global Canna Labs formally received its full approval for a Tier-3 cultivation license from the Jamaican Cannabis Licensing Agency (\"CLA\"). This license allows GCL to cultivate medical cannabis at its 270,000 square foot facility within its 6.23 acres site in Montego Bay, Jamaica.\n\nGCL now plans to have 220,000 square feet planted by the end of October 2018 from its Montego Bay site, up from the previously advised 28,000 square feet. The premium strains of organic Jamaican cannabis will be grown in a combination of greenhouse (31,000 sq ft) and outdoor (189,000 sq ft). GCL plans to expand its greenhouse portion to 58,000 sq ft by the end of 2018, and has already paid for and is in possession of the all the necessary materials for the expansion.\n\nCultivation is already underway with over 8,000 plants planted for the first production cycl...