Article content

STRATHROY – A Southwestern Ontario cannabis producer secured a $39-million loan from one of Canada’s Big Five banks to buy its sprawling property southwest of London.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or BMO backs WeedMD's outdoor marijuana grow plans Back to video

The deal between WeedMD, a marijuana grower with operations in Strathroy and Aylmer, and the Bank of Montreal (BMO) is the second in less than two weeks between a major Canadian bank, some of which have been hesitant to do business with the cannabis industry, and a London-area pot producer.

WeedMD used the money to buy the 40-hectare property in Strathroy from landowner Perfect Pick Farms. The property is where the cannabis company operates its massive greenhouse operation and plans to begin outdoor cannabis cultivation this spring,

“When they came through and saw what we’re doing here, they walked away suitably impressed,” WeedMD chief executive Keith Merker said of BMO officials visiting his company’s Strathroy operation.