Licensed High Park facility located in London, Ontario allows the Company to expand its capacity to sell a range of branded cannabis products exclusively for the Canadian adult-use market
TORONTO, ONT. – High Park Holdings Ltd. (“High Park”), a wholly-owned subsidiary of Tilray, Inc. (NASDAQ:TLRY), announced today that it has received an amendment to its standard processing license under the Cannabis Act. The amended license allows High Park to sell finished cannabis products from its state-of-the-art facility in London, Ontario to provincially and territorially authorized distributors and retailers in Canada.
Led by a team of industry experts responsible for innovation, research and the development of High Park’s portfolio of cannabis products, the High Park London facility was commissioned to develop, process and sell a wide-range of finished branded products under current and future regulations, including edibles (such as confectioneries and beverages), topicals, and concentrates, exclusively for the adult-use cannabis market in Canada. With its new amended processing license, High Park is authorized to sell from its London facility both dried cannabis and cannabis oil products - two form factors currently permitted under Health Canada regulations - boosting its capacity to supply adult-use cannabis products in the Canadian market.
In April 2018, High Park announced an initial investment of up to C$10 million in its 56,000-square foot London facility, with room to expand further. This processing and R&D facility works in collaboration with High Park’s affiliated Ontario facilities: High Park Farms Ltd. (“High Park Farms”), a cultivation and processing facility located in Enniskillen, Ontario, and Natura Naturals Inc. (“High Park Gardens”), a cultivation and processing facility located in Leamington, Ontario, which was acquired by Tilray, Inc. in February 2019. High Park Farms received its initial production license in April 2018 and a sales license in September 2018; High Park Gardens received its initial production license in September 2017 and its processing license in March 2019.
High Park and its affiliates have fulfilled adult-use supply agreements and purchase orders across Canada since the federal legalization of adult-use cannabis on October 17th, 2018. High Park will continue to offer consumers a broad-based portfolio of world class adult-use products as it grows its supply chain and expands its production capacity in Canada.
“This amended license for our facility in London increases High Park’s capacity to offer consumers a wide-range of adult-use products from dried flower and oils to differentiated form factors like edibles, once regulations allow,” says Greg Christopher, EVP Operations, Tilray and High Park. “We are committed to growing our supply chain and expanding our production footprint to supply the Canadian cannabis market with the highest quality branded products.”
High Park looks forward to sharing more information about the research and development of its differentiated brand portfolio and the expansion of its production capacity in the coming months.