Weekend Unlimited Inc (CSE:POT) (OTCQB:WKULF) said Tuesday that the company's majority-owned Northern Lights Organics farm in Fort St James, British Columbia has secured an industrial hemp licence, required to cultivate and sell industrial hemp, from Health Canada.
In a statement, CEO Chris Backus said the 600-acre Northern Lights Organics hemp farm is advancing ahead of schedule.
“Combined with the previously announced certified organic certification, the Health Canada industrial hemp license puts the company on the fast track to drive significant results in the 2020 growing season," pointed out Backus.
READ: Weekend Unlimited rolls higher by building brands, alliances and expanding its Northern Lights hemp farm
In October, Weekend revealed its Northern Lights farm has won certified organic land certification. Given that certified organic hemp-derived CBD is in high demand, it allows for premium pricing. The farm has achieved certification through the Pacific Agricultural Certification Society (PACS).
"We have all the pieces in place for the 2020 growing season, this licence is a significant milestone advancing our operational plan to produce and market certified organic hemp derived CBD," said Art Halleran, president of Northern Lights Organics.
It has been a busy spell for the company, which upgraded capacity at its 600-acre Northern Lights Organics hemp farm in British Columbia. The company has completed construction on a pair of 3,000 square-foot greenhouses, originally purchased at the end of 2018, and connected them to the BC Hydro electrical grid.
"The Northern Lights Organics farm presents the Canadian marketplace with a unique offering, and our goal is to make it the leader in best practices for outdoor certified organic hemp cultivation and overall product quality," said Backus.
Set up to cash in on the 2020 growing season
"Art and our team have done tremendous work to assure all of the licencing and certification milestones have been achieved in a timely manner so that we are in an ideal position to take full advantage of the 2020 growing season as planned," he added.
The Weekend Unlimited boss said the “scale of the Northern Lights Organics property” will serve to differentiate the company in the cannabis industry.
"We are committed to a disciplined approach to building long-term, sustainable revenue streams in both the US and Canada,” said Backus.
“Northern Lights Organics is a central focus for the company and one we see as a major driver of shareholder value going forward," he added.
Weekend Unlimited, which has operations in Canada, focuses on both the cannabis and CBD markets, and has been making steady inroads into the US market. Founded in September 2017, the Vancouver-based recreational cannabis group focuses on building and facilitating the growth of a diversified portfolio of assets and cannabis consumer products.
Contact Uttara Choudhury at [email protected]
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