Sire Bioscience Inc. has announced that construction has officially begun on the Company's 50 acre Leamington property. The first phase will result in the build out of 7,000 square feet of indoor space, not counting the 2,000 square feet of canopy with the required security and supportive rooms. This will also include the installation of 2,900 linear feet of fencing which will start on December 9th according to Investing News.
Once the indoor and outdoor construction is finished, Sire will submit an application to file for its indoor and outdoor cannabis cultivation licenses with Health Canada. Complying with their already acquired Industrial Hemp License, Sire will also be planting high yielding CBD strains of hemp cannabis on the remainder of the acreage. They plan to start growing both indoor and outdoor areas in the new year.
Leamington, Ontario is known as the Sun Parlour of Canada. The warmer than average temperatures in this region helps to deliver high-yield crops and is home to over 60% of Ontario's greenhouses. Leamington has the largest concentration of greenhouses in North America and is a $3 billion agribusiness sector.
Before scaling to maximum growing output, Sire will begin cultivating high THC strains on three acres of their land. Their property contains 137,088 square feet of greenhouse space and 40 acres of outdoor growing space.
"We're taking this strategic and sustainable approach so we can understand the capabilities of the land and scale our business responsibly. Our priorities are efficiency, scalability, and long-term shareholder value. To that end, we are extremely practical in our operations and creating multiple revenue streams in a yet to be defined market which will give us the ability to be nimble and maneuver quickly knowing that as growing commoditizes, 'brand' will win in the end."
Sire Bioscience CEO | Brian Polla
Consumer demand for cannabis is showing no signs of slowing down. Analysts predict that legal cannabis sales could reach $4.7 billion by 2023, up from about $570 million in 2018.
Sire will continue to explore unique strains and product offerings to appeal to a growing population. This site will also have the room for future expansion opportunities.
Sire is headquartered in Toronto and is backed by a group of entrepreneurs that have extensive experience in the areas of manufacturing, logistics and renewable energy.
