Armstrong-based cannabis producer Lotus Ventures Inc. is expecting to ship out its first harvest next week.
The Auxly Cannabis Group has agreed to purchase 100 per cent of Lotus’ initial crop, which yielded more cannabis than expected and passed all quality control measures.
The initial batch tested at 22.6 per cent THC levels — the average among the group tested was around 19.1 per cent. Lotus, guided by market demand, plans to grow higher THC products and expected high THC levels in future batches now that the growing environment has been standardized.
Lotus completed its first harvest at the end of September, but before shipment, it was sent to the labs for microbiological testing. The products passed.
Auxly’s agreement with the local producer entitles it to purchase 50 per cent of the product at a fixed price and has right of first offer to purchase the remaining 50 per cent at market prices.
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