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Wheaton Income, which provides financing in return for a percentage of future profit, will retain “a perpetual stream of 30 per cent of all cannabis (or cannabis-derived products including any cannabis trim) produced at the Facility,” according to the company.

This isn’t the first former factory transformed into a grow-op. Canopy Growth Corp. is headquartered in a former Hershey’s chocolate factory in Smiths Falls, Ont.

Going Global

Cronos Group Inc. announced on Monday that its wholly-owned subsidiary Peace Naturals Project Inc. has secured a dealer’s licence from Health Canada allowing it to export medical cannabis extracts, like concentrated oil and resin, internationally.

Cronos signed a distribution deal with German pharmaceutical manufacturer Pohl-Boskamp back in October, giving it access to pharmacies across the country. The company is also building a facility in Israel.

“The international medical market is the most attractive opportunity right now,” said Cronos CEO Mike Gorenstein. “In some countries you have strong (medical) reimbursement systems like Germany, some markets like Israel you have a long track record of university research … (and) a strong climate for agricultural growing.”

Other deals

Canopy Growth Corp. is expanding its Saskatchewan presence and diving into hemp production. On Thursday it finalized a previously announced acquisition of Green Hemp Industries Ltd., which focuses on “whole-plant hemp harvesting.” According to a Canopy press release: “The field operations (of Green Hemp Industries) alone are ready to scale from 600 acres in 2018 to 2,500 acres in 2019. To support this growth, custom built extraction infrastructure will be installed at Canopy’s Tweed Grasslands facility.”