LP buys back shares of Delta greenhouse complex

May 26, 2019
Written by Greenhouse Canada
Licensed cannabis producer AgraFlora Organics has announced their acquisition of investment holding firm Organic Flower's assets, which include 20 per cent interest in a Delta greenhouse complex, cannabis product formulations and the rights to a trans-European distribution network.

The transaction will return 70 per cent ownership of Propagation Services Canada and the 2.2 million square foot greenhouse complex in Delta, BC under the AgraFlora corporate umbrella.

The Delta greenhouse complex is forecasted to produce 175,000,000 grams of premium dried cannabis flower by 2020. AgraFlora says it is considered to be one of the most technically-advanced and environmentally-friendly greenhouse operations in the world, with technology such as:
• Fully integrated on-site natural gas-powered power plant:
• Providing ample heat and electricity, while repurposing carbon dioxide emissions to benefit the plants;
• Proprietary energy efficient air exchange;
• Advanced climate and humidity control management infrastructure;
• Ebb and flow watering systems to enhance complete irrigation recapture and water treatment;
• 1.5-million-gallon hot water storage tank configured to store energy produced during the day, for redistribution during non-peak hours, thereby increasing operational efficiencies and reducing associated energy costs; and,
• Multistage supplemental lighting to optimize illumination

According to AgraFlora, their Delta operations are on track to becoming the world's second largest cannabis cultivation operation under glass. They also own an indoor cultivation operation in London, Ont.

Acquired downstream product plans include edible confectionary, beers and ciders, cosmetics, CBD-infused performance products, and other beverages.

Source: Press release

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