- True Leaf (MJ) launches cannabis operations at Lumby facility
- True Leaf received the required Canada Revenue Agency cannabis license to begin this first phase of operations.
- The first batch will be harvested in June
- The agreement provides True Leaf with access to more than 40 sales representatives, 1,700 retail stores
- True Leaf Brands Inc. (MJ) is down 11.22 per cent and is trading at C$0.44 at 9:30 am ET
True Leaf Brands Inc. (MJ) launches its cannabis operations at its True Leaf Campus facility in Lumby, British Columbia.
The first plants arrived at True Leaf Campus this week, marking the beginning of True Leaf’s planned in-house grow and production operations.
True Leaf recently closed a C$1.5 million oversubscribed private placement and received the required Canada Revenue Agency cannabis license to begin this first phase of operations.
The first batch will be harvested in June.
“Earlier this year, True Leaf recruited an experienced team of cannabis professionals and completed an initial capital raise. This strong momentum continues to build as we execute on our strategic plan,” said True Leaf CEO Darcy Bomford.
“The next phase of our plan is the rollout of seed-to-shelf services micro-cultivators need but can’t necessarily provide on their own,” added Bomford.
To prepare for phase two operations, True Leaf has started building modifications for an upper floor grow area that will duplicate a typical micro-cultivator operation’s size and output.
This future cultivation area will showcase the latest quality-focused growing techniques and increase True Leaf’s capacity by 600 kilograms of dry flowers per year.
True Leaf has also announced a new agreement with Velvet Management, a leading cannabis sales agency, to market and distribute the Company’s craft-focused cannabis products across Canada.
“Focusing on small-batch craft supply is a perfect strategy that feeds into consumer demand and our distribution model,” saidVianney Aubrecht, President of Velvet Management.
The agreement provides True Leaf with access to more than 40 sales representatives, 1,700 retail stores, and every provincial cannabis distribution board nationwide.
True Leaf is a Licensed Producer of cannabis preparing to launch a program to provide seed-to-shelf solutions for micro-cultivators.
True Leaf Brands Inc. (MJ) is down 11.22 per cent and is trading at C$0.44 at 9:30 am ET.