135725
49467

Penticton  

Work slows on grow-op

Construction on a massive cannabis production facility in Okanagan Falls has slowed to a snail's pace.

After a flurry of activity and site preparation this summer, construction has fallen mostly silent at the former site of the Weyerhaeuser Mill in OK Falls.

Sunniva purchased the entire 126-acre property in May for $7M, announcing plans to build a 700,000 square foot greenhouse that would employ more than 200 people.

The company, led by Penticton resident and Poplar Grove Winery owner Anthony Holler, has been undergoing significant corporate restructuring.

It has yet to secure full funding for the Okanagan Falls facility, but is in the process of “spinning out” the Canadian parts of its business into a new entity.

Sunniva is near completion on a similar large greenhouse in California and plans on operating in the two countries separately, according to news releases on the company’s website.

It is speculated by some within the cannabis industry that it will be easier for Sunniva to attract funding for the OK Falls facility if it is not operating as an international firm.

The company is currently trading on the Canadian Securities Exchange for around $5 per share.

A Sunniva spokesperson did not respond to request for comment.



More Penticton News

58868
Recent Trending
50146






Send us your News Tips!


58213
Okanagan Oldies

Penticton SPCA Featured Pet

Pippin
Pippin Penticton SPCA >


135185


Castanet Proud Member of RTNDA Canada
134359
136195