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Botanist said it will invest “tens of millions of dollars” into production facilities, along with research and development at the site. Its plans also include an education centre on CBD’s value as a natural treatment.

“This industry is still very young. Recent research into the positive health benefits and applications of CBD shows that it has tremendous potential to help people as a pain reliever, as a treatment for epilepsy and anxiety,” said Duncan Gordon, the company’s chair and co-founder. “New research findings are being announced almost weekly.”

Gordon said the company will produce premium, organic products that include CBD oils, tinctures, lotions and edibles. He expects the first round of products will be sold later this year.

The company expects to create at least 200 jobs over the next three years, which Pedersen said helped it win out over other bids for the site.

“This company was chosen because of the significant economic benefits they offered to Manitoba and the local area,” said Pedersen.

While the Pineland nursery has now grown its final crop, Sustainable Development Minister Rochelle Squires said government will continue reforestation efforts at the same pace.

“The exact same amount of seedlings will be planted in Manitoba as any other year. We have very strict, legislated forest management plans,” said Squires.

The province said the switch to ordering seedlings from private companies is expected to save $105,000 this year, reducing the price from $595,000 to $490,000.

The province says the nursery’s former staff have been “redeployed within the civil service,” while alternate positions were offered to seasonal staff.

“No one has been left without a job as a result of the sale,” a provincial press release states.

The University of Winnipeg will still have access to the area to conduct research.

jpursaga@postmedia.com

Twitter: @pursagawpgsun