Cannabis plans advanced

    Goldleaf Pharm, a subsidiary of FIGR Cannabis, has completed the purchase of a 20-acre property adjacent to its facility in Simcoe, Ontario, Canada.
    FIGR Cannabis is an indirect subsidiary of Alliance One International, which described the purchase as a significant step forward in FIGR’s expansion plans.
    “Goldleaf Pharm is advancing through focused expansion in order to meet the needs of Canadians as we prepare for the legalization of recreational cannabis in Canada,” said Larry Huszczo, co-founder of Goldleaf.
    “The additional 20-acres of land will give us more production space with the ability to grow our current footprint to more than 700,000 square feet.”
    Meanwhile, Volker Lauterbach, the president of FIGR said his company was continuing to innovate by focusing on brand and product development. “Closing this deal moves us toward our overall strategy and investment goal of reaching one million square feet of production space for our Ontario and Prince Edward Island locations,” he said. “The Goldleaf Pharm expansion will add well-located production space to support capacity and product development.”
    Alliance described Goldleaf as a ‘late-stage applicant under Health Canada’s Access to Cannabis for Medical Purposes Regulations for required licensing to produce and sell medicinal cannabis in Ontario’.