Greenway Greenhouse Cannabis Corporation has received its approval from Health Canada for its expansion to 4 acres of cultivation space.
"This expansion is the final step of a year-long process, expanding Greenway's capacity to 24,000 KG of annual production," said Jamie D'Alimonte, CEO of Greenway. "I want to thank our team for all of the hard work that has gone into this. The new licensed space will provide Greenway with enough capacity to accommodate both our large and small B2B customers that have been approaching us with increased demand for our products, as well as provide us with the ability to launch our own B2C brands later this year."
"Greenway has been an industry leader in cost of production, all while operating with only 1 acre of cultivation space. Expanding to 4 acres will achieve further cost efficiencies, establishing Greenway as the lowest cost cultivator in the industry," said Carl Mastronardi, President of Greenway. "Our leadership team has a proven track record of scaling up agricultural greenhouse production from 1 to over 100 acres. We are confident that we can scale up our production without sacrificing product quality, while increasing our efficiencies. When the expansion is fully utilized, the Company is poised to significantly increase revenue and achieve true profitability."
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