True Leaf Medicine going ahead with a major expansion east of Vernon.
The company is finalizing its purchase of a 40-acre site in Lumby that will grow and distribute medical marijuana.
True Leaf CEO Darcy Bomford says they have major plans.
"We're actually going to tear down the building that's there, and build a brand new building with composite walls, a 16,000 square foot indoor grow, and a 9000 square foot hub attached to it, that we can add other arms to as we grow the company," he said.
"Initially, it'll be an indoor grow, very focused on high quality product. Also pharma-grade, to be exact. So a very high quality indoor grow - that'll be the base for our research and development as we grow the company."
He says it's a result of the company's application to Health Canada to grow and sell medical marijuana having been approved.
"Initially when we applied four years ago, we had an option to lease the 16,000 sq ft. building on the 40 acre parcel, but as things have ramped up this year, we actually signed an option to buy the property earlier last fall," he said..
"Now, we're able to actually execute the option and buy the property, and it'll close sometime this month."
Bomford says there's lots of demand for the product, especially given that Shoppers Drug Mart has recently signed supplier agreements with providers.
"It's no surprise, we thought this might happen, and I think Shoppers is one of the first companies to do it. I suspect other larger chains will also be looking at that option," he said.
"Having CBD and perhaps some THC-based gel caps or other products, I think it's a great choice for people to choose them over some other pharmaceuticals that might be harder on their bodies."
Site and foundation work is expected to start later this month, and be finished this summer.