FV Pharma Inc., the new owner of the Kraft property who plans to build the “the largest indoor cannabis cultivation facility in the world”, now has financial backing from Cannabis Wheaton Income Corp. This is a group of “entrepreneurs with a passion for the cannabis industry — past, present and future”. They provide financial support and share their collective industry experience. Wheaton has announced they have signed a letter of intent and although they will get “a 49.9% stream of all cannabis”, they did not announce how much money was involved. The agreement is subject to “FV Pharma receiving the necessary licenses”. Also announced were some additional details.
Details of Project
- Existing building is 620,000 square feet
- Upon completion of the Facility Development, FV expects to achieve a total of approximately 3,800,000 square feet dedicated to cannabis cultivation and related ancillary businesses all under one roof making it the largest indoor cannabis cultivation facility in the world.
- Wheaton and FV plan to utilize the Facility to supply Canada’s current medical and future recreational market for cannabis with a vision to offer mass quantities of dried cannabis, cannabis oils and, when legally permitted, food-grade cannabis edibles.
- Cannabis Wheaton estimates that this will result in approximately 200,000,000 grams of cannabis per annum for their benefit upon completion of all phases of the Facility Development.
- Cannabis Wheaton’s management team will assist FV Pharma with all aspects of the design, development, financing, build-out and operations of the Facility as well as the marketing, branding and distribution of the cannabis and cannabis-derived products generated by the Facility.
- Chuck Rifici, Chairman and Chief Executive Officer of Wheaton Income, compared the Cobourg facility to the Hershey factory in Smiths Falls where he converted it to marijuana production when he worked for Tweed (now Canopy Growth). However, he said that the Cobourg project is on a much larger scale and in perhaps the most ideal location in Canada, in close proximity to the largest addressable market in the country.
- Chuck went on to say that: “When completed, this massive facility will not only create a tremendous amount of supply for the recreational Canadian market, but it will also create hundreds of jobs for the City of Coburg (sic) similar to what we accomplished in Smiths Falls.”
- Thomas Fairfull, President and CEO of FV Pharma said he chose to partner with Cannabis Wheaton because of their experience in converting a large-scale food grade facility into a cannabis cultivation facility.
- FV Pharma said that their management mission “is to make the former Kraft plant in Cobourg, Ontario the largest hydroponic cannabis indoor facility in the world. FV Pharma intends to target all aspects of the cannabis industry including cultivation, processing, manufacturing, R&D, concentrates, beverages and edibles when and only when it is legal to do so.”
There was no update on the time-frame.
To put the number of grams of pot in perspective, once recreational marijuana is legal, the retail price of marijuana in Canada is expected to be around $10 a gram. A google search suggests it’s currently a little less than that.
- Download Full Press Release
- Cobourg Marijuana Update – 16 Oct 2017
So will Victoria Park host a potfest beside ribfest? While drinking an intoxicating drink in the Lion’s club tent, can an individual light up an intoxicating fattie? After all, it is a “feel good” town, so we should live up to it. Has the Town of Cobourg examined the implications of toking up in Cobourg’s public spaces? Will guests of of the trailer park be able to light up a bunch of bongs with the funny fumes drifting easterly to the children’s playground? Contact high. Can one sit on the bench outside the cop shot and light one up? Of course. Will people be able to toke up in Rotary Park? Will one be able to inhale at outdoor sports events? What will post-Canada Day look like? Anticipating a facility that will provide a good number of good-paying jobs on an on-going basis, it should be easy for them to sponsor pot fests, pot art and pot tourism to Cobourg. Think of the MONEY that can be made? If Smith Falls can prosper from Tweed Weed, then why not Cobourg, which has better access to the vast Toronto GTA market via the fast delivery of 401. And let us not forget the retail entrepreneur possibilities of downtown Cobourg selling spin off products and paraphenalia from the current vacant stores, something the DBIA should be looking into as well as Town Council. These are questions to be raised in the forthcoming elections this year. The CTA should be lobbying and encouraging this pot entrepreneurship because of the TAX MONEY it will provide.
Here’s how they do it in Colorado: https://www.coloradopotguide.com/what-to-do/marijuana-events/
Great ideas Wally!
COBOURG FEELS GOOD LIKE MARIJUANA SHOULD!
I’m not someone who partakes in this either recreationally or medicinally however the economic opportunities stemming from legalization and medicinal use will be significant. Pass by the Medicine Wheel (Alderville) parking lot any day of the week and it is nearly overflowing with business. Personally, I’d like to open a hotdog cart on William Street and sell hotdogs, french-fries and Doritos – #retirementplan
Good supplementary retirement plan.The morality of marijuana is totally irrelevant here. The only worthwhile morality is the morality of money, profits, employment. A spliff a day would help alleviate the whining misers about Town. Some graphic artist should design a Cobourg-specific rolling papers package, or a glass Victoria Hall bell tower bong. Or glass duplicates of Cobourg Lighthouse as a bong. Plenty of opportunities for the boldly imaginative.
Wally – I like the out of the box thinking…there is no more of a morality debate regarding medicinal or recreational cannabis then say recreational alcohol use, tobacco sales, vaping or gaming and gambling…all of which are mainstream and socially, morally, ethically and economically acceptable for most people in this hemisphere and reaping massive profits for companies and government alike. It seems a greater morality debate should be why are obstacles being place in front of needy patients who are clearly getting physical and/or psychological benefits from cannabis and none from traditional pharmaceuticals….
But I still want a hotdog cart….
For all the ill-informed whiners complaining about temp workers, and low paying jobs look at the employment possibilities for Canopy Growth in Smith Falls. It is not Leamington. https://ca.indeed.com/jobs?q=Canopy+Growth&l=Smiths+Falls%2C+ON&start=10
Such a well-sized facility lends itself to a lot of creative retail entrepreneurship possibilities. The last head shop in Cobourg was during the late 60s. Went out of business after a year. With empty stores available, there is an opportunity for one to become a head shop. If it truly does develop into the world’s largest producer of wacky weed, then Cobourg should be exploiting the hell out that. There is an enormous amount of wealth to be generated. Besides management, there will be a need for quality control people, researchers for new strains, as well as spin-off businesses printing labels, packages, delivery cartons, delivery vehicles and drivers, etc, and those products need graphics on their packages. And weed advertising is another opportunity for locals to grab the ring for graphic design.
Lighting up in Victoria Park will be a bit of deja vu for the old hippies who toked there during the late 60s, but the Peterborough RCMP on the second floor of the federal building observing the action will not be missed. Nor the dozens of youths busted, with lives ruined, and for what? Pathetic.
I have discovered that our supposed “local” newspaper Northumberland News seems reluctant to post articles about our new marijuana growing facility on their web site. There are articles in the print edition that simply aren’t on the online one, so can’t refer to them when commenting on other sites such as CBC etc. It’s almost like they are ashamed that we are doing such an evil thing here in Cobourg as growing the wretched weed right in our decent little town.
aMy hackles went up at the mention that migrant workers could be used at this grow-op. Anyone hear of a group called Justica for Migrant Workers? They fight for the rights and safety of migrant workers and are certainly active in the Leamington area, standing up for those workers. They have been to our town a few times and if unfair and unsafe working conditions occur, they’ll be back.
Not everyone fears and hates migrant workers, some of us work to protect them. This will be no different. In the meantime, let’s hope Justica has no reason to come here to protest working conditions.
Wondering out loud if this could be a tourist op as well as a grow op?
Best wishes of the season for all.
Most large greenhouse operations in Ontario employ foreign labourers. Do not expect high paying union jobs.
There’s always these glass half empty folks isn’t there? The town is better for having this facility running than it is without it. Even if (and that’s a big if) most of the workers were foreign labourers there is still an army of managers, QA, maintenance, etc that would not be.
Besides that FV Pharma said themselves that they will be hiring people, maybe that’s just spin, but it implies they mean local residents.
They will also be hiring supervisors, managers, office staff and more, no doubt, and paying taxes to the town as well. No only that, but even migrant workers have to eat, and they will be supporting local supermarkets and department stores while here.
Just take a quick drive down to the Leamington area of Ontario. It backs up Duke’s statement.
Good point. The greenhouse labour there has had drastic implications on that community
Many would say good implications but I get the sense you mean bad. Downtown Leamington has seen a revival, for instance, in large part do to temporary foreign workers.
This is all speculation anyways, I haven’t seen anything suggesting that is who is going to be hired.
Downtown Leamington has seen a revival?
“And every year, according to Leamington Mayor John Paterson, local women in the rural, lakeside town of about 28,000 have complained of sexual harassment on the part of the seasonal labourers — unwelcome sexual invitations, persistent queries about relationship status, comments about physical appearance. Some women even reported workers grabbing their genitals and making lewd gestures at them.
It’s led women to avoid the downtown and certain stores.”
Just as suspected you’ve somehow let this story turn into a Xenophobic rant of some kind.
Leamington has actually backed off that stance their Mayor put out there.
Xenophobic rant? More likely attacking anyone who is more realistic that this is not Amazon locating in Cobourg. Statements that it is going to be the “biggest” before it is even licensed breeds scepticism.
The only thing people have said is that this will be good for Cobourg, no said it’s Amazon or high paying union jobs, you brought all that up. At this point it could just as well be decent paying jobs as it could be minimum wage. No one knows. What we do know is even with minimum wage jobs come managers, etc that will make a decent wage.
Your stance on temporary foreign workers smells of xenophobia if you think a company bringing them in would be bad for the community in spite of the positives.
So does virtual slavery
Makes as much sense as virtual pregnancy.
Unfortunately, you are not realistic. This is rea;istic: https://ca.indeed.com/Canopy-Growth-jobs-in-Smiths-Falls,-ON
Realistic? No posted salaries, third party website where you can post anything to give illusions.
You got nothing to support your ill-informed contentions. https://www.thestar.com/business/2018/01/02/how-one-small-ontario-town-became-the-cannabis-capital-of-canada.html “Smiths Falls is on the rebound, with more younger people relocating to this town 75 kilometers southwest of Ottawa. There’s renewed interest in commercial property, new businesses are arriving and there’s even the odd bidding war on homes.”
The salaries were posted on the site I provided. Perhaps you should read it adequately.
Salary Estimates for Canopy Growth
$40,000 (152 jobs at)
$60,000 (95 jobs at)
$80,000 (46 jobs at)
$100,000 (24 jobs at)
$130,000 (6 jobs at)
Wally, you list 176 jobs by type and 323 by salary. What am I missing?
And Wally’s link http://jobs.canopygrowth.com/
only shows 66 jobs. Seems to be a little confusion over the numbers.
Still, pretty impressive for a small town like Smiths Falls.
As long as no one gets worked up over the high numbers speculated, shouldn’t be too much of a let down when the real numbers come in.
I suppose that this is another example of the “creativity” that Wally lauds.
Yes I do laud creativity. You have none to laud about. I already proved that.
Check the dates of the job postings and compare.
Go to site and find out for yourself. I’m not here to spoon feed you.
No problem, Wally. I can still handle some solid food.
Oh Dubious, everyone cares about your food intake,
Smiths Falls, ON (95)
Niagara-on-the-Lake, ON (23)
Ottawa, ON (19)
Toronto, ON (18)
Canopy Growth Corporation (164)
Looks like Wally used the figures for all locations of Canopy Growth, not just Smiths Falls. 95 jobs posted in SF on that web site.
No idea why the number of salaried jobs (170 if those bracketed numbers do indeed indicate number of jobs at that pay level)) don’t add up to 95.
66 jobs posted on the company’s site that Wally provided.
Numbers bouncing around so be careful what ones you use, whatever side of the debate you are on.
And Wally, you didn’t seem to mind sharing all the extra research on the archives for Northumberland Today on the Way Back site with us, so why be bitchy when someone asks a question about the stats you are providing on this topic. If you have the answer just give it to us and be able to back it up.
Because I am weary of your pettiness. And the fine job you did above wouldn’t have happened if I had’t prodded you do it YOURSELF. Your sense of self-entitlement is of no importance to me.
Ok Duke, here are the job postings on the Canopy Growth site. So much for your ill-informed contention that it is a third party site where anyone can post anything. Yes, except that the anyone is Canopy Growth http://jobs.canopygrowth.com/
So put your dukes up Duke, and support your ludicrous contentions.
“thousands of low-wage temporary farm workers from Mexico and the Caribbean, the work they provide and the money they spend here — Mayor John Paterson figures $15 million a year — have transformed the local economy.”
A study by the United Food and Commercial
Workers Union Canada estimated employment broker fees can eat up about half of temporary worker salaries, or more.
So, as long as they produce weed it does not matter who is manipulated?
What evidence is there that the weed producers for the coming Cobourg facility are intending to manipulate its workers?
This puts the boots to your ill-informed contention https://ca.indeed.com/Canopy-Growth-jobs-in-Smiths-Falls,-ON
Expect high paying union jobs == here is the example. https://ca.indeed.com/Canopy-Growth-jobs-in-Smiths-Falls,-ON
“Chuck Rifici, Chairman and Chief Executive Officer of Wheaton Income, compared the Cobourg facility to the Hershey factory in Smiths Falls where he converted it to marijuana production when he worked for Tweed (now Canopy Growth). However, he said that the Cobourg project is on a much larger scale and in perhaps the most ideal location in Canada, in close proximity to the largest addressable market in the country. … it will also create hundreds of jobs for the City of Coburg (sic) similar to what we accomplished in Smiths Falls.”
Good news for Cobourg.