High Park Farms™, an affiliate of High Park Company ("High Park"), announced today that it has received a federal license from Health Canada to cultivate cannabis under the Access to Cannabis for Medical Purposes Regulations (ACMPR). The High Park Farms facility, which is anticipated to represent an investment of up to $30 million, features 13 acres of greenhouse on 100 acres of property in Enniskillen, Ontario.
"This license is a major milestone for High Park as we work to prepare for the anticipated launch of the world's largest federally legal cannabis market later this year," said Adine Carter, Chief Marketing Officer of High Park.
High Park Farms will begin cultivating cannabis plants in its greenhouse next week and anticipates its first harvest in June. In accordance with the Cannabis Act introduced in Canadian parliament in April 2017, High Park Farms anticipates that its ACMPR cultivation license will provide the company the ability to supply the adult-use cannabis market in Canada once the legislation is adopted.
High Park launched earlier this month to produce and distribute a broad-based portfolio of cannabis brands and products for the Canadian market in anticipation of adult-use legalization. Based in Toronto and led by a team with deep experience in cannabis and global consumer brands, High Park has secured the exclusive rights to produce and distribute a broad-based portfolio of adult-use cannabis brands and products in Canada, subject to applicable laws and regulations. In addition, High Park has developed new brands and products for the Canadian market. Pending federal legalization of cannabis for adult-use and corresponding provincial legislation, High Park anticipates fulfilling adult-use supply agreements in Quebec, Manitoba, and Yukon. High Park plans to secure additional supply agreements with crown corporations and private entities in other provinces in the coming months.
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