Cannabis firms intend to expand cultivation and production

Calgary-based cannabis company Westleaf Inc. is partnering with We Grow BC, the producer of Qwest Branded Products, in Creston, B.C.

“This transaction brings together a known brand with revenue and EBITDA (earnings before interest, taxes and amortization) to complement some of Canada’s most premier indoor cultivation and extraction facilities. Together, we will be able to aggressively expand a trusted brand, increase market share, drive revenue and EBITDA growth and become an extremely competitive company in Canada and beyond” said Scott Hurd, president and chief executive officer of Westleaf, in a news release.

“Westleaf has built world-class cultivation, extraction and retail assets that will allow us to scale quickly and address the existing demand for our Qwest branded products. Together, we create the preeminent ultra-premium cannabis brand in Canada,” said Benjamin Sze, chief executive officer of We Grow. 

In a news release, the companies said the partnership is expected to accelerate We Grow’s strategy to expand cultivation capabilities for its popular Qwest and Qwest Reserve ultra-premium cannabis flower brands.

It’s expected to elevate the combined entity’s forecasted 2020 cannabis production capacity to 9,100 kilograms of dried cannabis flower while enabling the company to fully leverage the Qwest ultra-premium brand through Westleaf’s extraction facility and Westleaf’s chain of Prairie Records retail stores. 

© Calgary’s Business


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