The cannabis industry appears to be doing well despite the COVID-19 pandemic, and one area company got some good news recently that will allow it to grow even more of the crop.
SpeakEasy Cannabis Club, which is based in Rock Creek, has been granted an amendment to its licence from Health Canada that will allow it to grow on its 2.6 million square-foot outdoor field.
SpeakEasy’s licensed cultivation area will go from 10,000 square feet to more than 2.6 million.
“We have been eagerly awaiting the day we could grow outdoors,” Kelowna native and SpeakEasy founder Marc Geen said in a press release.
“With the favourable climate here in Rock Creek, the advantages we have due to our location cannot be overstated. Being licensed to grow in our 60 acres of outdoor grow area puts us in a position to be a global leader in the cannabis industry due to our size, location and efficiency.”
SpeakEasy plans to put its crop in the ground this spring and take advantage of what it believes are an excellent climate and superb genetics. It projects it will cost 10 cents per gram to grow, which is much less than the 50 cents to $2 per gram it takes to grow in Canadian indoor or greenhouse facilities.
“The scale and cost efficiency of the operation opens the opportunity to be competitive in domestic as well as global markets,” SpeakEasy CEO Bin Huang said. “‘BC Bud’ is a globally recognized brand, and for good reason. Leveraging that established brand, combining our high quality, eco-sensitive farming practices and projected industry-leading low cost of production, we believe we have a very bright future ahead of us.”