Akanda Corp. has furthered its cannabis investment by extending its option on its British Columbia asset for two additional years. The company has been working on obtaining its full cultivation license for a variety of potential products containing THC, but currently it is operating under its hemp cultivation license.
The company plans during this additional two year period to work towards developing Tetrahydrocannabinol (THC) and cannabidiol (CBD) assets at this site. Additional payments will be made based upon milestones achieved from the development. The milestones in the agreement include THC cultivation, sales of product, and CBD cultivation.
Located on picturesque Gabriola Island, the Company's cultivation facility is expected to benefit from some of the most favorable growing conditions in Canada. The island, situated in the rain shadow of Vancouver Island, enjoys abundant sunshine, balanced rainfall, consistently moderate temperatures year-round and features warm, dry summers and gentle, wet winters. It is expected to create an optimal environment that naturally minimizes mold and pest risks. Combined with clean air and fertile soils, the Company believes that these conditions make Gabriola Island an exceptional location for producing premium, sustainable, and high-yield cannabis and hemp.
For more information:
Akanda Corp
www.akandacorp.com
