Another important license was granted by Health Canada to Canopy Rivers Inc., this time, to one of its partially-owned companies. PharmHouse Inc. is located in Leamington, Ontario, and a new amendment to the current license was granted to allow cultivation all across its greenhouse. This joint venture, which is 49%-owned by Canopy Rivers, is fully operational now, and it plans on increasing the production to be able to satisfy the agreements it currently has with Canopy Growth and TerrAscend Canada Inc.
“The receipt of our license amendment represents a large milestone for PharmHouse,” said Tony Abbas, General Manager of PharmHouse. “This is a reflection of the hard work and dedication that our team has put in this past year and we are all very excited about this next chapter. Since the inception of PharmHouse, it has been our goal to bring innovation and consistency to greenhouse cannabis cultivation. With our full production capacity available to us and with the experience and market presence of our partners, we hope to change the industry concept of commercial cannabis production.”
PharmHouse has been using 50% of its production to satisfy the demands of these agreements and with this new license.
It can seize the production capacity its facility has to feed additional agreements, including the development of its own private label brand. “We want to congratulate the entire team at PharmHouse for this achievement,” said Narbe Alexandrian, President and CEO, Canopy Rivers. “We believe that PharmHouse’s technology-driven approach to cannabis cultivation and its ability to leverage the significant experience of our joint venture partners is a differentiator and positions PharmHouse well to execute on its vision.”
The other partner in the joint venture is one of the main operators of North American agriculture in general, the conglomerate Mastronardi Produce Limited. This company has wide experience in production on a large scale, as well as marketing and distribution services to promote the company.