Chemistree Technology Inc (CNSX:CHM) (OTCQB:CHMJF) said Thursday it has applied for permits for a planned cannabis cultivation, processing and distribution facility in Desert Hot Springs, California.
The Vancouver-based company said in a press release that it has submitted plans that include two separate cultivation buildings totaling 127,960 square feet and a separate 119,960-square-foot building for warehousing and processing.
Once fully constructed, the facility will produce a potential 50,000 pounds of cannabis flower per year, according to Chemistree.
“We are grateful to the city of Desert Hot Springs and the numerous local first responders and service providers for their receptive attitude to our submission,” Karl Kottmeier, president of Chemistree, said in a statement. “We are looking forward to receipt of final approval so we can begin construction."
Shares of Chemistree were unchanged at C$0.44 in Thursday’s Canadian trading. On Wednesday, their OTC shares slipped US$0.01 to US$0.33.
Earlier this week, Chemistree said its common shares are now eligible for electronic clearing and settlement through the Depository Trust Co in the United States.
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