First Nations Cree band makes $8 million investment in emerging Western Canadian cannabis company
CALGARY, July 24, 2018 /CNW/ - Westleaf Cannabis Inc. ("Westleaf" or the "Company") has entered into a strategic partnership with Thunderchild First Nation ("Thunderchild") marked by an $8 million investment in Westleaf by an affiliate of Thunderchild. The investment makes Thunderchild the largest shareholder of Westleaf, and is accompanied by a seat being allocated to Chief Delbert Wapass on the Company's Board of Directors.
"Since its inception, Westleaf has firmly believed in investing and supporting the communities it operates in and developing meaningful, authentic relationships that are reflective of Canadian values," said Scott Hurd, President and CEO, Westleaf Cannabis Inc. "One of the defining moments for our company was our decision to partner with Thunderchild First Nation, and we look forward to building a partnership that will allow us to put a spotlight on the Canadian production of cannabis, while instilling a sense of pride and ownership in the communities we serve."
Westleaf is constructing a ~115,000 square foot cannabis cultivation facility on lands owned by Thunderchild located near Battleford, Saskatchewan (the "Battleford Facility"). The Battleford Facility is one of two which are planned for Westleaf and, once fully operational, the intent is for the Battleford Facility to provide significant job creation for the Thunderchild community and to spur long-term economic development in Battleford, Saskatchewan.
Employees of the Battleford Facility will work with a team of experts from Westleaf who specialize in building and operating cultivation, processing and extraction facilities. To ensure world class education and training, all Westleaf employees will be required to go through an extensive training program, ensuring they are experts of their craft.
"We believe that the legalization of recreational cannabis creates significant economic opportunities for our country – and our community is no exception. We are proud to be Westleaf's largest shareholder, as we strongly believe that this relationship will bring significant benefits to our band," said Thunderchild Chief Delbert Wapass. "Westleaf's strong knowledge of the industry and its vision to develop high-quality cannabis products in the prairies in collaboration with our members will make our relationship a natural and rewarding fit."
About Westleaf Cannabis Inc.
Westleaf Cannabis Inc. ("WCI") is a private cannabis company headquartered in Calgary, Alberta that is purely and proudly Canadian. With two state-of-the-art cultivation facilities under development in Saskatchewan and Alberta, WCI will deliver superior Canadian-made products curated in world class production facilities and laboratories. Once both of Westleaf's planned facilities are fully operational, Westleaf will have ~175,000 of square feet devoted to production and manufacturing facilities. WCI intends to develop and manufacture a diverse range of high quality, safe and consistent cannabis products. With a focus on premium retail locations, cannabis cultivation, processing, and extraction practises, WCI will deliver a distinct product offering and in-store customer experience anchored on higher standards. With prospective retail stores planned for British Columbia, Alberta and Saskatchewan (subject to receipt of retail licenses in respect of the same) WCI has plans to be deeply rooted in the fabric of the communities in which it operates, solidifying its position as a leader in the Canadian cannabis landscape. For more information, please visit http://www.westleaf.com/.
SOURCE Westleaf Cannabis Inc.
For further information: Media Contact: Hannah Korsunsky, for Westleaf Cannabis Inc., [email protected], T: 647-922-5550