CALGARY — Recently, Terra Life Sciences Inc., a global manufacturer of pharma-grade softgels, announced the expansion of its medical cannabis pharma operations in the Town of Olds, Alta.
Construction of the first 50,000-square-foot cultivation facility is nearing completion, while the second phase will consist of a 230,000-square-foot building that is expected to break ground in the near future.
Ledcor Group of Companies has been announced as the prime contractor for the project. The facility is expected to be operational by mid-2019.
According to a release, upon completion, the company expects to have a total production capacity of approximately 35,000 kilograms of cannabis per year.
In an earlier news release, the company indicated funding for the expansion was made available through a $46-million private placement. The funding will also be used to expand the company’s research capabilities and investments in clinical trials.
The company has also developed a partnership with Olds College to help develop the college’s new Cannabis Production program offering.
“We’re extremely proud to be a founding partner with Olds College in the development of this program, as it will turn out graduates with valuable skills who know the ins and outs of not just the horticultural side of the industry but the regulatory side as well which, for our industry, is critical,” said Dr. Anil Jain, president and chief executive officer of Terra Life Sciences, in a statement.