Pla­cen­tia Bay med­i­cal mar­i­juana project moves through li­cens­ing process

The Compass - - Editorial - Ed­i­tor@cb­n­com­pass.ca

A New­found­land and Labrador com­pany look­ing to be­come the first li­censed pro­ducer of med­i­cal mar­i­juana in the prov­ince is closer to re­al­iz­ing its goal.

Argentia Gold Cor­po­ra­tion, a com­pany in­cor­po­rated ear­lier this year, re­cently re­ceived a file num­ber from Health Canada and, ac­cord­ing to a news re­lease is­sued last Mon­day, is work­ing to be­come a li­censed pro­ducer in com­pli­ance with fed­eral reg­u­la­tions. The pro­duc­ing plant will make use of an 80,000 square foot con­crete build­ing (for­merly the Amer­i­can Navy Mess Hall) in Argentia. There’s also ad­ja­cent land avail­able for po­ten­tial ex­pan­sion down the road.

“We are on sched­ule to have the fa­cil­i­ties com­pleted in May of 2018 and be ready to re­ceive a li­cense to pro­duce cannabis,” com­pany pres­i­dent Wil­liam Higgs said in the re­lease. “We will need the full co­op­er­a­tion of Health Canada but it is pos­si­ble to have a li­cense fa­cil­ity in New­found­land Labrador op­er­a­tional in July 2018.”

Con­struc­tion will re­port­edly em­ploy at least 50 work­ers and gen­er­ate 130 jobs once the fa­cil­ity is op­er­a­tional.

Higgs, an out­side in­vestor, is work­ing with two lo­cal busi­ness­men, Adrian “Ed” Ma­her and An­drew Col­ford, to form a part­ner­ship on the project.

“Bill be­gan ask­ing ques­tions about mar­i­juana one day last year out of the blue,” said Ma­her, the com­pany’s vice pres­i­dent. “At first, I didn’t think he was se­ri­ous. After a cou­ple of con­ver­sa­tions, he in­di­cated he was go­ing to in­vest in a startup mar­i­juana com­pany in On­tario. We im­me­di­ately be­gan to think how could we at­tract these in­vest­ment dol­lars to New­found­land and Labrador.”

The Town of Pla­cen­tia gave its stamp of ap­proval to the project in May, is­su­ing a busi­ness per­mit to Pla­cen­tia Bay Hold­ings Inc., an associated com­pany of Argentia Gold Cor­po­ra­tion.

“We have the full sup­port of our lo­cal fed­eral, pro­vin­cial and mu­nic­i­pal rep­re­sen­ta­tives. Ev­ery­one has been ea­ger to sup­port this new in­dus­try com­ing to Pla­cen­tia Bay and are en­cour­aged that we have the fi­nanc­ing and where­withal to see this plant com­pleted in time for changes to the mar­i­juana laws in Canada.”

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.