Langley marijunana firms see mergers, new ventures

Firms are still expanding as legalized cannabis is less than a year old

Langley’s marijuana business is busy, and recent days have seen a number of changes, including a proposed new industrial facility and the acquisition of a local firm by a larger one.

On May 13, PerAspera Holdings asked Langley Township council for a rezoning so the company can test and process cannabis at a facility in the Gloucester Industrial Park.

If approved, the facility in the 5400 block of 275th Street is to be converted for the new project. The building is not to be used to grow or directly sell cannabis, only for testing services, and for the creation of cannabis oil.

The site would receive dried cannabis from growers, process it, and send the unused waste plant matter to Abbotsford for composting.

One nearby resident spoke at Monday’s public hearing to raise issues about possible odours and property value issues.

PerAspera CEO Andrew Hale noted that the plant will follow Metro Vancouver’s air quality regulations, including frequent testing of air filters.

Council is expected to make a decision at a future meeting.

Meanwhile, a Langley-based cannabis firm launched a $5 million funding round, selling 10 million shares at 50 cents each.

Langley BC Cannabis Ltd. said the funding will be used to purchase, build, and retrofit a phase one facility in Langley. Negotiations for the site are currently underway, said CEO Dion Tarbaj.

“With this funding in place, we will be able to begin construction on our phase 1 facility and move forward with our goal to receive a cultivation license from Health Canada,” Tarbaj said in a press release.

Aimed at cultivating medical marijuana, Langley BC Cannabis has applied for a production permit from the federal government.

The company said it expects phase one to produce 4,500 kg of dried cannabis in its first year of operation.

Also seeing changes was Langley-based Blissco Cannabis Corp, being acquired by Supreme Cannabis in a $48 million deal.

The share-based acquisition has the support of Blissco CEO Damian Kettlewell, according to a press release.

With an 18,000 square foot facility in North Langley’s industrial area, the firm has agreements to distribute cannabis in B.C., Alberta, Saskatchewan, and New Brunswick.

The firm has submitted a building permit request to the Township for an expansion of its facility, and a May 3 corporate update said the firm could produce 10.6 million 30 ml bottles a year of cannabis oil extracts.

The firm has been shipping dried cannabis to the BC Liquor Distribution Branch, which handles provincial pot sales, since March.

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