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Cann Group takes another step towards phase III cannabis facility development

Cann is scaling up substantially to compete on the global medicinal cannabis stage.

a cannabis plant
Site selection for the facility is imminent

Cann Group Ltd (ASX:CAN) has signed an agreement with Aurora Larssen Projects (ALPS) for the design and construction consulting services for Cann’s phase III cannabis facility.

Cann’s proposed facility is a greenfield development of about 23,500 square metres including a cannabis flowering production area of about 14,000 square metres.

Site selection for the facility is imminent, with applications for the required planning permits and regulatory approvals now in progress.

It is expected that the facility will be operational in the first half of calendar 2019.

Funding in place for this major expansion

Cann chief executive Peter Crock said: “ALPS involvement is an exciting step forward in our phase III development which will result in a facility that will contain cutting-edge automation features and advanced, energy efficient materials and technologies that will, in turn generate exceptional yields for Cann Group.

“We have funding in place for this major expansion step which allows us to scale up substantially and puts Cann in a position to compete on the global medicinal cannabis stage.”

ALPS is owned by Aurora Cannabis, a strategic shareholder in Cann

ALPS is a specialist greenhouse engineering consultancy providing technical consulting to the greenhouse industry worldwide.

It specialises in building, expansion and renovation of sophisticated greenhouse facilities for a variety of different crops including cannabis.

ALPS was acquired by Aurora Cannabis Inc (TSE:ACB) in November 2017. The multi-billion dollar Canadian medical marijuana producer Aurora is a strategic shareholder in Cann Group.

Quick facts: Cann Group Ltd

Price: 0.575 AUD

ASX:CAN
Market: ASX
Market Cap: $155.24 m
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