focusing on sustainable low cost, high quality cannabinoid production and procurement for Pharmaceutical and consumer infused products
Construction of Phase One Cultivation Facility Completed
North Bud Farms Restructures Proposed California Operations with Signing of Offer to Purchase 11-Acre Property in Salinas, California
- Entered into a land purchase agreement with the Qlora Group to acquire a fully operational Cannabis farm consisting of approximately 300,000 sq. ft. of greenhouse capacity located in Salinas, California.
- With the near 11-acre cultivation facility comes additional licenses for processing and distribution.
- Transaction is valued at USD$11 million.
North Bud Farms Completes Construction of its Phase One Cultivation Facility and Establishes U.S. Based Subsidiary, Bonfire Brands USA
- Announced the completion of its 24,500 square foot phase one indoor cannabis cultivation facility located on 135 acres of land in Low, Quebec, Canada.
- This week consultants are finalizing the facility’s Evidence of Readiness Package for submission to Health Canada.
- “This is an important milestone for NORTHBUD, as we transition from the construction phase to pre-operational phase,” said Ryan Brown, CEO of NORTHBUD.
- Transaction valued at USD$7 million
- Medical and adult use licenses for cultivation extraction and distribution.
- NBS currently operates a 5,000 sq. ft. indoor cultivation facility and have been approved for expansion of up to 100,000 sq. ft.
- Located in Reno, Nevada
North Bud Farms Signs Binding Letter of Intent to Enter U.S. Market with Strategic Acquisition of Multi-State Licensed Operator Eureka Vapor
- Transaction valued at CAD$20 million
- In 2018, Eureka recognized revenue of approximately CAD$11.5 million*
- net profit margin of 16%* from its California and Colorado operations
- Anticipates further growth in revenue due to anticipated changes to retail regulation of adult cannabis use in California.
WHY NORTHBUD FARMS?
- Canadian regulatory door for CIP (Cannabinoid Infused Products) is opening this year
As shown in other legal jurisdictions (Colorado, Washington, Nevada, California)
- Infused products sector has become the highest margin segment of the industry
- Positioned to be a raw input producer for this space
- Currently working with multiple food, beverage and science companies to provide safe standardized cannabinoid infused raw inputs for large scale GMP manufacturing of products
- Announced Creation of “1017” Distribution and Signing of a LOI to Acquire Janey's Cannabis Line
- Acquired late stage ACMPR applicant GrowPros MMP from Tetra Bio-Pharma (TSXV: TBP)
- GrowPros MMP application was submitted in November 2014 and is currently in the ‘Confirmation of Readiness’ stage.
- Announced the amendment of its licence application to add 500K SQ. FT. of outdoor cultivation area
- Phase 1 is located on 95 acres of agricultural farmland in Low, Québec.
- Option exists to acquire more land if needed
- Facility will focus on GMP (higher production grade) pharma-grade cultivation and food-grade extracted inputs
The summer was busy for NORTHBUD, as the company completed the facility and submitted evidence package to Health Canada
Request for Outdoor Cultivation License:
NORTHBUD is pursuing a standard cultivation licence under The Cannabis Act after acquiring a confirmation of readiness stage ACMPR licence application in early 2018.
The NORTHBUD production facility is located on a 95-acre parcel of farmland in rural Quebec. Under the new regulations, licenced producers can cultivate outdoors. In collaboration with Cannabis Compliance Inc. NORTHBUD will be amending its application to include a 1000 x 500ft outdoor cultivation area. This outdoor production footprint to be operational in the spring of 2020 pending the required approvals by Health Canada (estimated). NORTHBUD expects to begin implementation of the required infrastructure in Q2 2019 after completion of our 25k sq. ft. indoor production facility that is currently under construction.
Implementation of this additional low-cost production footprint will provide NORTHBUD a unique platform to cultivate both premium quality dried flower as well as low cost commodity grade organic biomass to be transformed into food and pharma grade inputs. This will position NORTHBUD to capitalize on the highest margin market segments.
As the consumer market develops, we believe our diverse centralized infrastructure will provide NORTHBUD a solid, low cost, high quality cannabis supply, which will serve as the core of our products and brand moving forward.
SITE DETAILS: LOW COST INFRASTRUCTURE
Update on Janey’s Inc. Acquisition
NORTHBUD and Janey’s continue to work on finalizing the acquisition agreement to include additional product segments. To date Janey’s has fulfilled multiple orders to the Ontario Cannabis Store and intends to expand its offering in the upcoming product calls.
POWERED BY NATURE
The farm will be powered entirely by a clean and sustainable energy source: nature herself. The pharma-grade and food-grade cannabis will be fuelled by one of the world's most consistent, clean and powerful energy grids. With a 226 megawatt capacity, the Paugan Dam has the second greatest capacity of any dam in the Outaouais. This "run of the river" dam is part of Hydro-Quebec's vast energy infrastructure.
POSITIONED FOR LEGALIZATION 2.0
- First mover advantage often becomes first-mover disadvantage
Examples: AOL, Netscape, Yahoo, BlackBerry
- Second mover advantage: clearer picture of market and competition
Examples: Google, Facebook, Amazon, Apple, NORTHBUD
- North Bud will focus on GMP standardized production to be used by our pharma commercialization partners i.e. Tetra Bio-Pharma We will focus on securing unique strains containing high amounts of specific cannabinoids not typically found in recreational cannabis.
Food Grade Inputs
- Using licensed encapsulation technology we will engage existing food and beverage companies looking to develop product lines containing cannabis.