High Park Farms™ Receives Cannabis Sales License from Health Canada
High Park Farms™ Ltd., a subsidiary of Tilray, Inc. (NASDAQ: TLRY), announced today that it has received its sales license from Health Canada to sell cannabis under the Access to Cannabis for Medical Purposes Regulations (ACMPR). The license will allow High Park Farms to supply and sell finished cannabis products within the ACMPR as well as sales in anticipation of the launch of the adult-use market in Canada upon its legalization on October 17, 2018.
“This license marks a milestone for High Park as we aim to solidify our position as a leading provider of adult-use cannabis in Canada,” said Adine Carter, Chief Marketing Officer of High Park. “We look forward to supplying provinces and territories with a variety of world-class cannabis brands and products in anticipation of the launch of the adult-use market on October 17, 2018.”
High Park received its license to cultivate cannabis under the ACMPR in April 2018. The company has completed several harvests in anticipation of supplying the medical and adult-use cannabis market in Canada. The state-of-the-art High Park Farms facility features 13 acres of greenhouse space on 100 acres of property in Enniskillen, Ontario. Going forward, High Park intends to primarily serve the adult-use market in Canada, while medical cannabis production will continue to take place at the headquarters of its affiliate, Tilray Canada Ltd., in Nanaimo, BC.
A wholly-owned subsidiary of Tilray, Inc., High Park was launched to produce and distribute world-class cannabis brands and products for the Canadian market. Based in Toronto and led by a team with deep experience in cannabis and global consumer brands, High Park has secured the exclusive rights to produce and distribute a broad-based portfolio of cannabis brands and products in Canada, subject to applicable laws and regulations. In addition, High Park has developed new brands and products for the Canadian market. Upon the coming into force of federal legalization of cannabis for adult-use and corresponding provincial legislation, High Park anticipates fulfilling adult-use supply agreements and purchase orders in Quebec, Ontario, British Columbia, Manitoba, Nova Scotia, Prince Edward Island, Northwest Territories and Yukon on October 17, 2018.