A major Canadian producer of greenhouse-grown fruits and vegetables plans to turn at least one of its B.C. greenhouses into an enormous marijuana production facility.
Village Farms, based in Delta, B.C., has announced a joint venture with Emerald Health Therapeutics, the parent company of licensed medical cannabis producer Emerald Health Botanicals, also based in B.C.
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Under the terms of the deal announced late Tuesday, Village Farms will provide Emerald with an existing 1.1 million square foot greenhouse in Delta, in exchange for $20 million cash and a 50 percent stake in the joint venture. If approved and licensed by Health Canada, the greenhouse could yield more than 75,000 kilograms of marijuana per year, the companies say.
