CAN: "End of an era as Tilray sells land and leaves Nanaimo"

The pioneering Nanaimo cannabis giant Tilray has finally pulled out of the city, taking with it roughly 170 jobs. Last week, it found a conditional buyer for its flagship property in the city which was listed for more than $18 million.

Canada's first legal medical cannabis grower opened its Vancouver Island facilities to great fanfare in April 2014, a year-and-a-half before the election of the federal Liberal government on a promise to legalize cannabis.

"Its departure from Nanaimo is a loss for the city." The Greater Nanaimo Chamber of Commerce's president said Tilray was a major player, contributing $25 million to the local economy in its first year alone.

"There was nothing like it in Canada," Kim Smythe said. "We were the first. It was quite a coup at the time." The company continues to operate elsewhere in Canada, the U.S., Europe, Australia and Latin America. Tilray says its merger with Ontario giant Aphria nearly a year ago makes it the "world's largest cannabis company" thanks to combined revenues of $685 million.

To read the complete article, go to www.cbc.ca


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