Leamington, Ontario Greenhouse Opportunity

Article by Hortidaily,

Leamington, Ontario greenhouse opportunity A brand new 1.3 million sq. ft. state-of-the-art greenhouse is available in Leamington, Ontario. Leamington, well-known as North America’s greenhouse capital, is well connected to major regional population centres in Southern Ontario, Quebec and northeastern United States. The surrounding area is one of the best locations for greenhouse growing in Canada and notably possesses more built greenhouse acreage than all of the United States’ industry combined.

A brand new 1.3 million sq. ft. state-of-the-art greenhouse is available in Leamington, Ontario. Leamington, well-known as North America’s greenhouse capital, is well connected to major regional population centres in Southern Ontario, Quebec and northeastern United States. The surrounding area is one of the best locations for greenhouse growing in Canada and notably possesses more built greenhouse acreage than all of the United States’ industry combined.

The glass greenhouse facility, which was completed in 2020 for the purposes of cannabis cultivation, possesses a 24’ clear ceiling height and growing systems which could support both cannabis or general agriculture purposes. The turnkey facility contains a fully automated Priva control system along with full climate control and nutrient delivery systems.

BMO Capital Markets has been engaged to solicit interest in, and opportunities for, a sale of, or investment in, the existing cannabis business and/or the sale of all, or substantially all of the assets owned by the business, including the greenhouse property, with the objective of maximizing value.

The current licensed operations contain 135,000 square feet of licensed nursery infrastructure and cultivation areas with a maximum capacity of ~36,000 plants per room. Low-cost production infrastructure is in place with significant potential operating leverage as the facility scales. The facility was developed using a transformative approach to production, integrating a high degree of automation, lean manufacturing processes and commercial agricultural best practices.

On September 15, 2020, PharmHouse Inc. (“PharmHouse”) was granted protection pursuant to an order (as amended and restated, the “Initial Order”) issued under the Companies’ Creditors Arrangement Act by the Ontario Superior Court of Justice (the “Court”). Pursuant to the Initial Order, Ernst & Young Inc. was appointed as monitor of PharmHouse (in such capacity, the “Monitor”). Pursuant to an order dated October 29, 2020 (the “SISP Approval Order”) the Court approved the sale and investment solicitation process (the “SISP”) and the engagement of BMO Capital Markets as advisor to PharmHouse in respect of the SISP (the “SISP Advisor”).

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