Pubdate: Thu, 30 Jan 2014
Source: Recorder & Times, The (CN ON)
Copyright: 2014 Recorder and Times
Contact: http://www.recorder.ca/letters
Website: http://www.recorder.ca/
Details: http://www.mapinc.org/media/2216
Author: Alanah Duffy

POT PLANT GETS LICENCE

SMITHS FALLS - The former Hershey chocolate factory here will be
cultivating a new product for the first time in six years, after
Health Canada approved a licence for a medical marijuana production
facility.

Tweed Inc. received its approval from Health Canada to grow marijuana
for medicinal purposes earlier this week.

"Now, we get to get on with actually building the business instead of
preparing for receipt of the licence," said Tweed chief executive
officer Chuck Rifici.

"We're entering kind of the second chapter of the business now. It's
very exciting."

In late 2013, Tweed purchased the former Hershey chocolate factory,
which had been sitting dormant since its closure in 2008. The deal
became final on December 27.

There are currently 20 people working at the Hershey Drive facility,
with Rifici saying the company is scrounging to find more employees.

"We're hiring a lot of customer service staff at the moment. We're
kind of over-staffing that because we want to make sure people are
able to reach us quickly," he said.

"We're continuing to hire production staff - everything from people to
help on the growing side as well as other roles in
production."

The company is planning to have around 100 staff members when it is
fully up and running.

Smiths Falls Mayor Dennis Staples said having the Health Canada
approval is great news.

"I was optimistic all the way along. I was pretty confident it was
just a matter of time before Health Canada provided their approval for
their licence," Staples said.

"It's a continued re-use of the vacant Hershey plant, which is
important."

Tweed is using one-third of the former chocolate-producing factory for
their operation. Staples says he anticipates the other two-thirds of
the building will see further development.

Tweed's first product will be ready for customers by April of this
year.

Rifici said Tweed will begin by offering 25 strains of medical
marijuana, with more strains planned for the future.

"Over the coming weeks, we'll be able to start announcing to our
customers when specific varieties become available," he said.

The products will range in pricing from $5 to $12 per gram of
marijuana. As well, Rifici said, the company is guaranteeing 10 per
cent of its products will be sold for $5 or less per gram.

A 20 per cent discount will be provided to people who can provide
proof of having a low income.

"We want to make sure we can serve people with low income," he
said.

In addition to earning its licence from Health Canada, Tweed has also
applied for a listing on the TSX Venture Exchange.

Rifici said the company ultimately will end up being a public
company.

"We've been fortunate to be able to raise a lot of money from private
investors, and with a public company, that will allow us...to be able
to raise money a lot easier and faster down the road, if we want to
scale things further,"he said.

"At the same, time being a public company adds a lot of visibility in
an industry where we're not allowed to advertise." 
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MAP posted-by: Jo-D