Harborside is engaging in a substantial upgrade of one of its approximately 45,000 square foot greenhouses at its 47-acre integrated production campus in Salinas, California.
"The planned upgrades include, among other things, the installation of blackout curtains and supplemental LED grow lights in the greenhouse," the Harborside team explains. "Following the successful completion of these upgrades, on an annualized basis. the Company expects an approximately 50% increase in production from this greenhouse, an expected approximately 10% increase in bulk wholesale revenue capacity, and an approximately 7% increase in the total productive capacity of the Salinas Facility. The project isexpected to be completed within the first quarter of 2021 and the Company expects that the total cost of the updates will be fully recouped within the first twelve months of operation following completion of the project."
In addition, the Company announced today that its in-house brand, Harborside Farms, will commence sales of clones grown at its Salinas Facility at all Harborside branded locations, including Desert Hot Springs.
"We have carved out a strong reputation for supplying high-quality cannabis products to the growing California market and these upgrades are a crucial investment that will fuel our growth heading into 2021," said Peter Bilodeau, Interim CEO and Chairman of Harborside. "Leveraging the strength of our Salinas facility, we're thrilled to be officially commencing sales of clones that are grown at our farm and only available at our stores immediately. This new in-house product category was developed utilizing sustainable cultivation techniques to provide discerning consumers with access to locally grown, high-quality cannabis."
The Company's clone initiative aims to capitalize on these trends and the continued high-quality production from its Salinas Facility, and will underscore the single-source, local nature of the Harborside Farms brand, as well as its emphasis on sustainable cultivation practices. The initiative will also continue to enhance the Company's retail gross margins by adding an additional in-house product category sourced internally from its Salinas Facility.
For more information:
Harborside
(888) 994-2726
1840 Embarcadero, Oakland (CA)
harborside.com