After receiving its license from Health Canada, Meridian 125 W Cultivation is now in the throes of cultivating cannabis.
Joe de la Plante, vice president of operations and marketing, said the company, with its plant in the old mill office in Townsite, received its license in mid-February, which switched the company from the construction phase to a cultivation stage. There are now plants growing at the Meridian 125 W operation.
De la Plante said it takes upwards of 14 weeks from the time seeds are planted to the time the grower is able to sell the product, which means a period of no revenue.
“Once we have a finished product, that’s when the sales cycle begins,” said de la Plante. “You can look at four, five, to six months from the start without any revenue. Our company is in a great position because we don’t have any debt on our balance sheet, so we are well-funded, we are well-managed, and we keep a tight rein on our finances.
“Essentially, what we are trying to do is commission our facility. A lot of work was done before Meridian took it over. For better or worse, we have to take what they have done and finish it the way we want for maximum efficiency.”
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