The company connected to the large-scale cannabis conversation of Houweling Nurseries in East Ladner has just completed a major deal in Europe in order to focus on its Canadian operations.
AgraFlora Organics last week announced that it has divested itself of its joint venture with another cannabis company, Roughrider Capital Corp., in Greece. It was a joint venture originally intended to establish Agraflora as a medical cannabis cultivator in the European country and provide an entrance to the European Union.
Following the divestment, AgraFlora in a news release stated it has recommitted to focusing on getting its Delta-based joint venture with Houweling Nurseries completed and licensed with Health Canada. The plan is convert the 64th Street facility in several phases to cannabis production.
However, AgraFlora will still have an interest in Roughrider, hoping to eventually breaking into the European market.
“Our new strategic relationship with Roughrider Capital and its European partners is a tremendous opportunity for AgraFlora to supply the world’s second largest cannabis market: the European Union,” said Derek Ivany, AgraFlora president and CEO.
He said a supply agreement with Roughrider’s partners in Greece will provide access to the Greek and ultimately EU cannabis markets for cannabis flower and oils. They also envision extending their relationship by participating with Roughrider and its European partners in clinical studies on the use of cannabinoids for the reduction of high blood pressure and anxiety.
AgraFlora Organics last December announced its partnership with Houweling Nurseries that will see the conversion of the 2.2 million square foot greenhouse. The 20 hectare (49-acre) facility will be the second largest cannabis greenhouse facility in Canada among those that are currently physically built, AgraFlora stated. The company also noted the Delta facility is second in size only to an Ontario facility owned by Canopy Growth Corp., the world’s largest cannabis company. Canopy also has a separate large-scale greenhouse operation on Hornby Drive in East Ladner.
Meanwhile, the province’s agriculture ministry recently released the recommendations of an independent commission looking at ways to protect the Agricultural Land Reserve and strengthen the Agricultural Land Commendation. The recommendations address concerns about cannabis production on ALR land.
The report notes the commission wants the ALC and government to collaborate to clarify the type and scale of cannabis production structures deemed appropriate within the ALR.
