A large-scale East Ladner greenhouse that’s made the switch to cannabis has secured necessary financing to expand its operations.
Before the legalization of cannabis in Canada in 2018, Village Farms International partnered Emerald Health Therapeutics Inc. to form a new venture called Pure Sunfarms.
Now selling to the B.C. and several other provincial cannabis distribution branches, Pure Sunfarms recently got the go-ahead from Health Canada, based on the company’s initial production area, to expand into a second 1.1 million square foot greenhouse facility at the site, allowing it to expand capacity as needed through successive license amendments.
Emerald last week announced that Pure Sunfarms has further expanded its credit facility with a lending syndicate led by Bank of Montreal, and including Farm Credit Canada and the addition of CIBC, to its full $59 million capacity with the completion of the credit facility’s accordion feature.
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