GROW BIG OR GO HOME
Pot grows in windowless rooms with tight security
2001
June: Federal government launches its first program for medical marijuana. Approved individuals are allowed to grow weed at home or obtain it from Health Canada
2011
June 17: The government launches formal consultations designed to reform the rules for producing and using medical marijuana
2012
Dec. 16: Health Minister Leona Aglukkaq announces a new framework that aims to treat medicinal marijuana as any other narcotic used for medical purposes
2013
January-February: Ottawa entrepreneurs Chuck Rifici and Bruce Linton study the draft regulations and prepare a business plan
June: Health Canada issues new regulations: home-based grow ops are to be replaced by secure commercial operations
Aug. 20: Rifici and Linton launch Tweed Inc. and acquire the former Hershey chocolate factory in Smiths Falls as a potential manufacturing site
Sept. 25: Tweed applies to become a commercial marijuana producer
Oct. 1: Health Canada stops approving new applications for production licences under the old, home-based regime
Nov. 18: Health Canada grants Tweed a licence to acquire and produce marijuana. The licence allows it to buy additional marijuana strains from home-based growers. The company plans to begin operations in spring 2014.
Dec. 27: Tweed raises $3 million through the sale of shares to private investors
2014
Jan. 2: Tweed signs letter of intent to merge with LW Capital Pool as a way to issue shares to the public
Jan. 27: Tweed’s licence is amended to allow sale and transport of marijuana. It is allowed to produce up to 15,000 kilograms annually.
March 21: Federal Court of Canada order allows four applicants to continue producing marijuana in homes under the old rules
April 1: Tweed begins sale of medical marijuana under the new regulations that favour commercial production
April 3: Tweed completes merger with LW Capital Pool, thus acquiring a listing on the TSX Venture Exchange. The company name is changed to Tweed Marijuana Inc.
April 3: Tweed confirms the RCMP seized a shipment of marijuana it had purchased from a B.C. grower. Tweed says it informed the RCMP in advance. A week later, Tweed decides to decline the purchase.
April 4: Shares begin trading, closing at $2.59 and valuing the company at $91 million
April 14: Tweed partners with Arizer to provide vaporizers. This will allow customers to inhale active ingredients without smoking.
April 21: In response to larger-than-anticipated demand, Tweed unveils an accelerated construction program, a plan that would quadruple production to six million grams a year by the end of 2014
May 5: Tweed ships its first order
May 14: Company raises another $15 million by selling 4.7 million shares to a syndicate of Canadian brokers