Beleave will add almost 100,000 sq. ft. for cannabis extraction, processing, and cultivation. Phase 2 expects to generate approximately $50 million in annualized revenue with an average gross profit margin of 60 percent once fully operational.
Beleave has received the required building permit from the City of Hamilton for its Hamilton Phase 2 expansion. Work on Phase 2 is now underway, with construction teams already on site, according to the company.
"The Phase 2 expansion has long been in development and represents an important moment in our story," the team with the company says. "The newly-announced building permit marks the final approval necessary to move the project forward. Last month, we received another approval for the project to progress at a public meeting of the Hamilton City Council."
Construction of the 91,700 sq. ft. Phase 2 expansion project has begun with Beleave retaining the services of Havecon Horticultural Projects. Havecon, a leading developer of horticultural and agricultural construction and development, will manage and complete the work on site. Phase 2 will result in an additional 5,700 sq. ft. of indoor grow space and 55,000 sq. ft. of greenhouse space which would have an expected annual yield of 8,650 kilograms per year.
Beleave's Hamilton facility is a state-of-the-art hub for high-efficiency extraction, processing, and cultivation of cannabis and cannabis-derived products. The newly-approved expansion is expected to provide the ability to significantly increase current operations, distribution, and sales beyond what they are today.
The construction plan has been notionally approved by Health Canada, subject to confirmation that the building has been completed, as a licensed growing facility. The work on site is expected to take roughly four months before the greenhouse is fully operational.
Phase 2 includes 29,500 sq. ft. allocated to office, storage, and processing which will allow the Company to repurpose spaces in the existing facility for other uses.
Beleave thanks the Hamilton City Council for their continued cooperation and support through the approval processes and looks forward to an ongoing and productive relationship with the city and the community as a whole.
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