Greenway Greenhouse Cannabis Corporation has applied to Health Canada for new dedicated propagation space at the Leamington, Ontario facility, which should help increase the number of batches the facility can grow annually, and provided an update on current market dynamics.
Greenway has applied through Health Canada to create new dedicated propagation and vegetation space at its current cultivation facility located in Leamington, Ontario. This new space is meant to be utilized for mid-stream propagation, allowing Greenway to gain space and time efficiencies in their flowering rooms. By doing this, the Company believes it will be able to increase the amount of biomass the facility can throughput annually and should help Greenway move toward its goal of having six full crop rotations every year.
"We are always looking for new ways to increase our efficiency and lower our costs, and changing over this space will better equip us to achieve both of those goals," said Carl Mastronardi, President of Greenway. "We have found by giving our cuttings coming over from our nursery more time to become acclimated to the greenhouse environment before moving into the flowering stage, we receive higher production from our premium genetics. By having this new dedicated space, we can make sure that the plants remain in the most optimized environment for each stage of their development. Space and timing efficiencies are one of the ways we can continue to make incremental progress as a grower."
Supply and wholesale price update
Greenway continues to see positive signs that the wholesale domestic and international markets are rebounding from the lows of 2023. The Company's revenue per gram has been steadily increasing for 6 straight quarters, from $0.84 to $1.58 per gram.
"As we have seen the wholesale price of cannabis for Greenway increase, the speed at which we have been able to move our crops has also increased. This trend has continued since our most recent quarter and shows no signs of regression. Everything we are growing right now and over the last few months has had a home before it has even finished being harvested," said Jamie D'Alimonte, CEO of Greenway. "This is a great sign for the industry, as it ensures consumers are getting the freshest product possible, and that Greenway is not sitting on any inventory. With both the domestic and international markets heating up rapidly over the last 18 months, we have also been able to move towards more advantageous commercial terms."
For more information:
Greenway Greenhouse
www.greenway.ca