Prince Edward Island Marijuana Company to Grow Expansion to $35 Million

Article by Nancy Russell, CBC News

P.E.I. marijuana company to grow expansion to $35 million Facility plans to produce 25 to 30 times more cannabis, create up to 200 jobs Nancy Russell · CBC News. There are currently 20 employees at Canada's Island Garden and that could grow to 200 with the expansion. (Randy McAndrew/CBC). Edwin Jewell stands in nursery room of medicinal marijuana plants. (Laura Meader/CBC). Edwin Jewell made the announcement near the construction site. (Randy McAndrew/CBC)The expansion is next to the existing facility and will be in two phases. The first part should be complete by late summer of 2019. (Randy McAndrew/CBC)

Canada’s Island Garden in Charlottetown is growing its business by more than it originally planned. The P.E.I. marijuana grower is building a new greenhouse and warehouse, at a cost of $35 million.

“It’s a very exciting day for me today,” said Edwin Jewell, the company’s president and CEO.

“I’m very pleased and very proud to think that what started out as an idea just a few years ago has turned into a successful company.”

New capital

The project is much larger than what was originally planned. In January, the company announced an expansion worth $20 to $25 million.

But a new investor has given the company the capital it needs for a bigger expansion. In February, Alliance One International Inc., based in North Carolina, announced its subsidiary Canadian Cultivated Products acquired a 75 per cent equity position in Canada’s Island Garden.

Read the full article here.

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