Dycar Pharmaceuticals Ltd., (the company), a private B.C. incorporated company, today announced acquisition of an existing 86,000 square foot building, in Cranbrook, for production of medical cannabis.
The building acquired by the company is situated in Cranbrook’s light industrial zone and with planned renovations will increase total production space in the building to over 114,000 square feet.
With purchase of the property now complete, and Health Canada’s approval of Dycar’s plans in late November 2017, the company will move forward immediately with repurposing of the building.
Dycar’s new facilities will be built-out in two phases with construction of the first phase commencing in March 2018. The first phase will develop approximately 33,000 sq. ft. in the building for: cultivation, processing, extraction, laboratories, offices, mechanical, security and packaging / shipping.
Construction and equipping of the first phase will have a capital cost of $7.1 million. The company anticipates receiving its license to cultivate in June 2018.
Company CEO and chair, Dylen Wannop stated “The process to get to this point has been long and challenging but with us able to now move forward with construction it has been worth it. We have a talented team of professionals working with us through the construction process and the City of Cranbrook’s staff and council continue to provide excellent support and guidance. We look forward to commencing operations this summer and becoming a strong contributor of Cranbrook’s economy.”
Upon full build-out Dycar will have invested over $35 million in establishing their new facilities in Cranbrook. The company anticipates employing up to 60 personnel for the first phase of operations and over 200 personnel at full build-out.
The company is planning a hiring fair in Cranbrook for April.
More details for the fair will be advertised later this winter when the event plans are finalized.