CannTrust Holdings has announced that its cultivation and processing permit under Health Canada Cannabis Regulations was amended to include the final 20% of its Phase 2 expansion. The entire 450,000 sq. ft. of its perpetual harvest greenhouse in Pelham, Ontario, is now fully licensed.
"With this approval, CannTrust is set to meet its plan to reach 50,000kg of annualized capacity at the perpetual harvest greenhouse and continue providing award-winning products in a cost-effective manner", said Peter Aceto, Chief Executive Officer.
We at CannTrust's expect production ramp as follows:
- The last 20% of the Phase 2 expansion is expected to be operating at full capacity by the end of Q2 2019.
- Pending Health Canada approval, we anticipate planting on its previously announced outdoor land acquisition of 81 acres in Q2 2019 and expects to realize a yield of approximately 1,000kg per acre in 2019. Total 2019 production from this harvest is expected to be approximately 75,000kg.
- With additional land under letter of intent anticipated to be secured in the near term, our outdoor cultivation operation is expected to total 100,000kg to 200,000kg of production in the second half of 2020. Production from outdoor cultivation will primarily be used for extraction purposes for products that we anticipate will be permitted based on proposed regulations for additional cannabis products, which include edibles and inhaled extract products.
- The Phase 3 expansion of our perpetual harvest greenhouse is expected to add a further 50,000kg of capacity beginning in the second half of 2020. Phase 3 includes productivity and automation enhancements over Phases 1 and 2. Production from the Phase 3 expansion is also subject to Health Canada approval.
- Our combined cultivation operations are expected to reach a total annualized capacity of 200,000kg to 300,000kg in the second half of 2020."
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