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CAN (ON): Canopy Growth greenhouses believed to be sold

Niagara-on-the-Lake was once home to what was touted as the largest medicinal cannabis-growing operation in the world. Canopy Growth closed its Tweed location on Concession 5 in 2021, a property with one million square feet of indoor greenhouse space that opened in 2014.

And finally, after sitting empty for several years, the website of real estate firm Avison Young says the property, with a listing price of more than $32 million, has been sold. An online website that lists property transfers indicates it sold for $21,800,000 in May to a company that grows mushrooms — neither the realty company or Canopy Growth responded to calls or emails to confirm that information.

Angus Foreman, the man who originally purchased the Concession 5 greenhouses and received Health Canada’s permit to grow medical cannabis, told The Local that with the exception of the more recently built greenhouse added to the range, the range was not best suited for growing cannabis.

He later sold the operation to Canopy Growth and said he would expect it to be purchased by a produce or flower operation. He thought it unlikely, he said, that another cannabis producer would purchase it because growing the crop has turned out to be not very economical.

Read more at pentictonherald.ca

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