Windsor

Tilray Inc. to close Leamington, Ont., cannabis greenhouse as money-saving measure

Tilray Inc. says it will close a licensed cannabis greenhouse in Ontario, which will save the company millions of dollars a year.

Facility contains about 37,700 square metres of cannabis cultivation, manufacturing space

Tilray Inc. says it will close a licensed cannabis greenhouse in Ontario, which will save the company millions a year. (Ron Ward/Canadian Press)

Tilray Inc. says it will close a licensed cannabis greenhouse in Ontario, which will save the company millions of dollars a year.

The Nanaimo, B.C.-based company says it will close its wholly-owned subsidiary High Park Gardens in Leamington, Ont., over the next six weeks.

Tilray says it anticipates about $7.5 million in net annualized savings, as well as avoiding significant ongoing capital expenditures as a result.

Tilray acquired Natura Naturals Inc. in 2019 and the company has operated as High Park Gardens since then.

The facility contains about 37,700 square metres of cannabis cultivation and manufacturing space that's been licensed by Health Canada, and primarily served Canada's adult-use market.

Tilray CEO Brendan Kennedy says in a statement that the company is confident the decision will put it in a better position to achieve its goals, including driving revenues across its core business.

Comments

To encourage thoughtful and respectful conversations, first and last names will appear with each submission to CBC/Radio-Canada's online communities (except in children and youth-oriented communities). Pseudonyms will no longer be permitted.

By submitting a comment, you accept that CBC has the right to reproduce and publish that comment in whole or in part, in any manner CBC chooses. Please note that CBC does not endorse the opinions expressed in comments. Comments on this story are moderated according to our Submission Guidelines. Comments are welcome while open. We reserve the right to close comments at any time.

now