Tree Farm Going to Pot as Canada Weed Growers Eye Legalization
- DelShen Therapeutics plans cultivation former state tree farm
- Prime Minister Trudeau has pledged to legalize marijuana
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A former state-owned tree farm in northeastern Ontario will soon be growing medical marijuana, according to one of a group of Canadian companies that’s trying to capitalize on booming demand and the potential for full decriminalization.
Toronto-based DelShen Therapeutics Corp. is spending C$8 million ($6 million) to retrofit a 40,000-square-foot factory near Kirkland Lake into a facility that will eventually produce 13,000 kilograms (28,660 pounds) of medical marijuana a year, said Chief Executive Officer Barry Kurtzer. The company is awaiting final approval from Health Canada and forecasts the project will generate C$21 million in sales in its first year.