With a signed MOU with the province of P.E.I announced this week, Canada's Island Garden has sold all the marijuana it can grow this year, and is looking ahead to a massive expansion.

Canada's Island Garden will be one of three suppliers for P.E.I. president Edwin Jewell said the 1,000 kilograms he expects the province to order, along with his current medical supply business, will leave him sold out this year.

"This will handle most of our crop," Jewell said.

Canada's Island Garden is planning a six-fold increase in production. (Krystalle Ramlakhan/CBC)

"As our company grows we'll certainly be looking to expand our market and we'll be in contact with other areas when we have a supply for them. It would be a little premature for us right for us to do that as we just don't have the capacity."

But Jewell is already making plans to meet those new markets. The agreement with the province will help him finance an expansion worth $20 million to $25 million. The expansion will include a new greenhouse and a larger processing area, including space for extracting oil.

"All indicators are that when cannabis becomes legal in July of '18 that there quite likely will not be enough cannabis to supply the demand," Jewell said.

Jewell is aiming at a six-fold increase in production, and said the company could add up to 70 jobs to its operation in West Royalty.