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$150 million for two new cannabis facilities

DCN News Services
$150 million for two new cannabis facilities

GRANDE ALLEE, QUE. — The Kameleon Group has announced it will be proceeding with the construction of two cannabis growth and production plants in Quebec at an estimated cost of $150 million following Health Canada approval.

A budget of $50 million will be required for the first project to proceed, the Nordika Nutraceutiques project in Saint-Felicien, and 250 jobs will be created, said a June 5 release.

The project will consist of the construction of production, processing and marketing systems.

The plant will produce and process cannabis for the extraction of CBD oils, THC and other molecules contained in the cannabis plant and the products will be sold in the cannabis derivatives markets, including therapeutic, pharmaceutical, cosmetic and nutraceutical (food) uses.

The other major Kameleon Group project, Altitude 640, will be located in Petite-Riviere-Saint-Francois and will include a cannabis production and processing plant.

The project, requiring an investment that could reach $100 million, will be undertaken on a lot of more than 10 million square feet located on Route 138 and will create nearly 400 jobs.

The new plant will be able to produce nearly 100,000 kilos annually.

Once the project is completed, Altitude 640 anticipates the production of cannabis over an area of one million square feet.

The Kameleon Group is headquartered on Grande Allee, Que. Project principals are Martin Dufour, Francois Ruel and Dan Nossey.

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