The first Chatham-Kent business has been awarded a cannabis production licence from Health Canada.
AgMedica Bioscience Inc. received the licence under the Access to Cannabis for Medical Purposes Regulation.
“This is another major accomplishment in the growth of AgMedica,” stated Art Vander Pol, CEO of the company, in a press release.
“The management team is pleased to have achieved this critical milestone and would like to thank all of our employees, partners, and shareholders for their efforts and continued support. We believe that AgMedica has one of the largest, if not the largest, initial capacity of any newly licensed producer of cannabis in Canada.
Vander Pol added: “While we are celebrating this accomplishment, we realize this is just one more milestone on our journey to become a global leader in cannabis production as well as the development and commercialization of cannabis-derived products that positively impacts the health and well-being of our customers.”
Stuart McFadden, acting director of economic development in Chatham-Kent, told the Sydenham Current it is an exciting time for the company.
“To my knowledge this is the very first company to receive this designation (in Chatham-Kent,)” McFadden said.
“I know they have been working very, very, very hard trying to dot the I’s and cross the T’s, to satisfy Health Canada to get to this point. I’m very excited for them.”
McFadden said it is a lot of local people involved with AgMedica.
“I’m very happy for them,” he said.
“They’ve invested a lot of money in Chatham-Kent. They’ve acquired a couple different facilities, large facilities, and they did all that hoping that they were going to get to today. It takes a little bit of pressure off their shoulders. It has been a long haul, but their perseverance is to be commended.”
McFadden said a number of companies have approached Chatham-Kent council to acquire the specific zoning changes for potential cannabis production.
“They’re still in the process of working with Health Canada,” he said.
“Again, today is a big day for AgMedica. They were one of the original one’s to come forward. They’ve crossed the starting line, they’ve got a long way to go.”
AgMedica officials say in the coming weeks, the company is planning to begin cultivation in the first phase of its energy efficient indoor Riverview Cultivation Facility, with a current annual production capacity of 6,000 kg.
Company officials say they have assembled a management team with decades of experience in large-scale commercial agriculture and in the development and commercialization of pharmaceutical products.
AgMedica officials say plans are in place to expand their capacity within their existing building to 26,500 kg, with cultivation starting in the coming weeks.
The Company’s second indoor facility is in the detailed review stage at Health Canada to become a licensed producer and is forecast to add an additional 40,000 kg in annual capacity once fully built, providing AgMedica with a total projected indoor production capacity of 66,500 kg per year, company officials say.
They are focused on the development of cannabis derived products for medical, adult-use recreational once approved and ultimately pharmaceutical purposes, company officials said.
The company just recently changed their name as well, as they were formerly AgriMed Botanicals Inc. or AMBI.
“Our name change to AgMedica Bioscience reflects our evolution and strategic vision to become a dominant vertically integrated player in the medical cannabis market and to invest in world-class research and development to develop and commercialize clinically-proven cannabis-derived pharmaceutical products for human and veterinary use,” Vander Pol stated.
The name change came onto effect on December 6.
More details are available on their website: agmedica.ca
