A brand newfangled 1.3 million sq . ft . body politic - of - the - nontextual matter greenhouse is usable in Leamington , Ontario . Leamington , well - known as North America ’s greenhouse capital , is well affiliated to major regional universe centres in Southern Ontario , Quebec and northeastern United States . The surrounding orbit is one of the good locations for greenhouse growing in Canada and notably possesses more built nursery acreage than all of the United States ’ industry fuse .
The glass glasshouse facility , which was complete in 2020 for the purposes of cannabis polish , possess a 24 ’ clean ceiling height and grow systems which could endorse both hemp or general agriculture purposes . The screw readiness contains a in full automated Priva ascendence system of rules along with full climate ascendence and nutrient bringing organisation .
BMO Capital Markets has been engaged to tap interest in , and opportunity for , a sales event of , or investment funds in , the existing cannabis business and/or the cut-rate sale of all , or substantially all of the assets own by the business enterprise , include the glasshouse attribute , with the object of maximizing time value .
The current certify operations control 135,000 substantial animal foot of licensed nursery substructure and cultivation country with a maximum capacity of ~36,000 plants per room . downhearted - cost product substructure is in place with significant potential operating leveraging as the adeptness scales . The facility was developed using a transformative feeler to production , integrate a high-pitched degree of mechanization , lean manufacture process and commercial farming right practices .
On September 15 , 2020 , PharmHouse Inc. ( “ PharmHouse ” ) was granted protection pursuant to an order ( as amended and restated , the “ Initial Order ” ) issued under the Companies ’ Creditors Arrangement Act by the Ontario Superior Court of Justice ( the “ Court ” ) . Pursuant to the Initial Order , Ernst & Young Inc. was nominate as monitor of PharmHouse ( in such content , the “ Monitor ” ) . Pursuant to an orderliness dated October 29 , 2020 ( the “ SISP Approval Order ” ) the Court approve the sale and investment solicitation process ( the “ SISP ” ) and the engagement of BMO Capital Markets as consultant to PharmHouse in respect of the SISP ( the “ SISP Advisor ” ) .
The SISP is intended to solicit involvement in , and chance for , a sale of , or investment in , all or part of the plus and/or the occupation of PharmHouse ( the “ Opportunity ” ) . The Opportunity may include one or more of a sale of all , well all or one or more components of PharmHouse ’s attribute and business as a going concern or otherwise or a potential restructuring , recapitalization or other cast of reorganization of the business and affairs of PharmHouse as a going concern .
The SISP is a two - phased process with the Phase 1 tender deadline set for November 30 , 2020 .
Those interested in participating in the SISP should reach out to the SISP Advisor to receive extra information at :
BMO Capital Markets100 King Street West , 4th FloorToronto , ON M5X 1H3
Attention : Bradley Harris and Andrew Lai
Email:[email protected][email protect ]
copy of the SISP Approval Order and the SISP may be obtain from the website of the Monitor atwww.ey.com/ca/pharmhouse .
