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One of the five companies granted a licence by the Canadian government to grow medical marijuana is preparing to take the company public on the TSX Venture Exchange, as early as the middle of March.

Tweed Inc. plans to produce the product in Smiths Fall at a plant that used to be owned by Hershey Co. but was closed in 2009 after being a fixture in the town for the previous 45 years.

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“It used to employ hundreds of people but has been vacant for five years,” said Bruce Linton, chairman of Tweed and a driving force behind Tweed seeking a licence. That process took more than six months of filling out documents, of raising capital to purchase the plant, of building the facilities and ensuring that the site met all the rules and regulations particularly for security and quality control.

Next week the process of Tweed going public takes a major step when shareholders of LW Capital Pool Inc., an Ontario-based capital pool company, gather to approve a so-called qualifying transaction: the purchase of all the shares of Tweed Inc. In this way Tweed will go public via a reverse takeover.