Meet Canada’s Massive Cannabis Greenhouse Spaces

April 13, 2018 - By: Baystreet Staff

As the market prepares for the upcoming legalization of cannabis across Canada, the sector’s largest growers striving to be the lowest-cost producers will be the only ones to survive. It’s time to get to know the biggest producers, both present and future.

Companies that are projected to have greenhouse spaces larger than 1 million square feet include Cannabis Wheaton Income Corp. (TSX.V: CBW) (OTC: CBTWF), Canopy Growth Inc. (TSX: WEED) (OTC: TWMJF), Emerald Health Therapeutics, Inc. (TSX.V: EMH) (OTC: EMHTF), MedReleaf Corp. (TSX: LEAF) (OTC: MEDFF), and MYM Nutraceuticals (CSE: MYM) (OTC: MYMMF).

The cannabis sector is already showing signs of maturity, complete with consolidation and mergers. Late last year CBC News signalled the cannabis industry’s entry into a state of merger madness, and now the Financial Post has confirmed that this is indeed the way that 2018 has started.

With an expected $22.6 billion market projected in Canada alone, the stakes are only going to get higher, as the date of legalization approaches.

Therefore, it’s understandable that smaller growers in BC grew wary with the announcement that Canopy Growth Inc. (TSX: WEED) (OTC: TWMJF) was moving into the neighbourhood—Making a greenhouse footprint of 1.3 million square feet.

But Canopy’s massive greenhouse isn’t the largest project currently on the list—That honour goes to MYM Nutraceuticals (CSE: MYM) (OTC: MYMMF) with the ambitious Weedon, Quebec facility pegged to be 1.5 million square feet.

But among the largest cultivation projects on deck from Cannabis Wheaton Income Corp. (TSX.V: CBW) (OTC: CBTWF), Canopy Growth Inc. (TSX: WEED) (OTC: TWMJF), Emerald Health Therapeutics, Inc. (TSX.V: EMH) (OTC: EMHTF), MedReleaf Corp. (TSX: LEAF) (OTC: MEDFF), and MYM Nutraceuticals (CSE: MYM) (OTC: MYMMF), one company will emerge as the lowest cost producer.


Through a joint venture with Peter Quiring (one of Canada’s largest greenhouse builders and operators), Cannabis Wheaton Income Corp. (TSX.V: CBW) (OTC: CBTWF) is set to develop a 1.4 million square foot purpose-built greenhouse for cannabis cultivation.

The company estimates that the Phase I build-out will result in approximately 120 million grams of cannabis annually.


Known as Canada’s first and only ISO 9001 and ICH-GMP certified cannabis producer, MedReleaf Corp. (TSX: LEAF) (OTC: MEDFF) recently announced it has entered into agreements to acquire 1 million square feet of existing greenhouse infrastructure on a 69-acre property in Exeter, Ontario.

After retrofitting, the existing Exeter Facility is projected to have a production capacity of up to 105,000 kgs of cannabis product annually with the first harvest expected by year end of 2018.

The company projects that on the adjacent land of 95 acres, there’s the potential to build a greenhouse approximately 1.5 times larger than the Exeter Facility.


Early last summer, Emerald Health Therapeutics, Inc. (TSX.V: EMH) (OTC: EMHTF) made headlines when it joined with Village Farms International, Inc (TSX: VFF) (OTC: VFFIF) to commence work on fitting a 1.1 million-square foot greenhouse facility in Delta, British Columbia.

Village Farms are already expert greenhouse growers, so the conversion to cannabis is being seen by the company as a worth challenge to grow a substantially more profitable agricultural product. After the conversion, the facility is estimated to yield more than 75,000 kg of product annually.


Known mostly for its large Ontario presence, cannabis kingpins Canopy Growth Inc. (TSX: WEED) (OTC: TWMJF) recently announced they had received a license for a cultivation facility in Aldergrove, BC to become one of the largest cannabis cultivation facilities in the world. The initial license will cover 400,000 square feet of growing space, which is expected to expand to 1.3 million square feet over the coming months.

The company has already shipped more than 100,000 cannabis clones (the largest shipment in Canopy’s history) to the facility from its Tweed Smith Falls Campus to help kick-start the cultivation process.

Next, a second facility will take the company’s focus, which is expected to have approximately 1.7 million square feet of growing space.


So far, the largest completed plans of the group is the massive 1.5 million square-foot facility at Weedon, Quebec to be built by MYM Nutraceuticals. Weedon is the second of two Quebec projects that the company is working towards, while MYM also has a JV in New South Wales Australia that surpasses the 1-million-square-foot mark.

MYM currently owns 75% (which goes up to 90% upon completion) of the Weedon, Quebec project, and together with the municipality have the shared goal of making Weedon the official cannabis capital of Canada.

The decision to center the company’s flagship operations in Quebec was very strategic—Nationally speaking, Quebec’s costs are quite reasonable.

The province’s labor costs are on average 34% less than in the US, and 16% less than in G7 countries. Power is 36% cheaper than in the US, and 49% lower, on average, than in the G7 countries.

And lastly, Quebec’s tax regime on investments are the lowest in Canada—More importantly they’re lower than the average of the US, G7 countries, and the OECD countries.

As a bonus, Quebec offers an investment tax credit, which covers up to 24% of the cost of newly purchased manufacturing and processing equipment, and reimburses sales tax on capital goods.

Ahead of the bulk of those investments, the company recently received a boost of confidence and cash from a recent $10,000,000 financing that will move the company closer to its goals in 2018.

The net proceeds are intended to be used towards general working capital and corporate purposes including the Weedon, and Laval, Quebec production projects, and its partnered 1.2 million square foot production facility in New South Wales, Australia.

Between Weedon and New South Wales, MYM is projected to have access to 2.7 million square feet of state-of-the-art growing space at its disposal.

Among the largest greenhouse operators, MYM Nutraceuticals has the highest amount of space left to grow on the market, as it is still valued at less than Cannabis Wheaton Income Corp. (TSX.V: CBW) (OTC: CBTWF), Canopy Growth Inc. (TSX: WEED) (OTC: TWMJF), Emerald Health Therapeutics, Inc. (TSX.V: EMH) (OTC: EMHTF), and MedReleaf Corp. (TSX: LEAF) (OTC: MEDFF). Whether the market picks up on this unrealized potential in 2018 is yet to be seen.


Cannabis Wheaton Income Corp. (TSX.V: CBW) (OTC: CBTWF)

Cannabis Wheaton Income Corp. operates as a cannabis streaming company. It provides funding for cannabis facility expansions, operations, and initial construction in exchange for minority equity interests and a portion of the cultivation production. Cannabis Wheaton Income Corp. was incorporated in 1987 and is based in Vancouver, Canada.

Canopy Growth Inc. (TSX: WEED) (OTC: TWMJF)

Owners of the Tweed brand of cannabis products, Canopy Growth is a multi-licensed, geographically diverse marijuana producer, described as “one of the world’s — and Canada’s first — premier exporters of marijuana” by the Financial Post in 2016. Canopy is the parent company of licensed cannabis producers, Tweed Inc., Tweed Farms Inc., Bedrocan Canada Inc., as well as newly acquired Mettrum Health Corp. Canopy currently has a combined growing platform of over 665,000 sq. ft. of production space. It was also the first federally regulated, publicly traded cannabis producer in North America, and the first billion-dollar cannabis corporation. Canopy Growth was founded in 2014, and is based in Smith Falls, Ontario.

Emerald Health Therapeutics, Inc. (TSX.V: EMH) (OTC: EMHTF)

Emerald Health, together with its subsidiaries, produces and sells medical marihuana and cannabis oils in Canada. The company was formerly known as T-Bird Pharma Inc. and changed its name to Emerald Health Therapeutics, Inc. in June 2015. The company has a joint venture partnership with Village Farms for greenhouse space, and with Abattis Resources for their jointly-owned subsidiary, Northern Vine Labs. Emerald Health Therapeutics, Inc. is headquartered in Victoria, Canada and is a subsidiary of Emerald Health Sciences Inc.

MedReleaf Corp. (TSX: LEAF) (OTC: MEDFF)

MedReleaf produces and sells cannabis-based pharmaceutical products in Canada. It offers dried cannabis, cannabis oils, and cannabis oil capsules; and various accessories, including grinders, vaporizers, and lockable containers. MedReleaf was Canada’s first and only ISO 9001 and ICH-GMP certified producer of medical cannabis. It recently announced a joint venture with an Australian partner for cultivation and production of medical cannabis in Australia. The company was incorporated in 2013 and is headquartered in Markham, Canada.

For a more in-depth look into MYM Nutraceuticals you can view the in-depth report at American News Group:

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