CALGARY, April 30, 2018 /CNW/ - Terra Life Sciences Inc. (Terra Life Sciences) will immediately begin construction on Terra Quantum, the second phase of the company's medical cannabis cultivation operations, following approval of the company's development permit for the project by the Town of Olds.
The 230,000 square foot facility will be built adjacent to the company's existing pharma manufacturing operations and its phase one, 50,000 square-foot, cultivation facility now nearing completion. With this capacity, the company will have the ability to maintain control over its supply chain and production quality and volumes. The combined cannabis production capacity of the two buildings will be approximately 35,000 kilograms per year.
Dr. Anil Jain, President and Chief Executive Officer of Terra Life Sciences, said site preparation work will begin immediately, with an intended in-service date in the second quarter of 2019. In announcing the approval of the development permit, Dr. Jain highlighted the strong history connecting the company and the Town of Olds.
"We are one of the largest employers in town, we've been a proud part of the community here for 35 years, and we intend to increase our economic and employment contributions in the community. I'd like to thank the Town of Olds for being such a valued partner with us as we've evolved and grown, and we look forward to working closely with the Town as it delivers on its mission to embrace innovation, enhance economic development and generate prosperity for our community."
Terra Life Sciences has selected the Ledcor Group as its prime contractor for Terra Quantum due to the company's experience with projects having similar technical requirements and project timelines.
Construction work is also underway on the company's on-site Research and Breeding Centre. This facility will allow Terra Life Sciences to create unique strains and chemical profiles of medical cannabis designed to target specific medical conditions. Construction of that 17,000 square-foot facility is expected to be complete in Q4 2018.
The company will hire 20 additional staff in the very near future, with more recruitment to follow as Terra Quantum and the Research and Breeding Centre come into service. More than 100 people will be employed for construction of the two new projects, with Terra Life Sciences committed to hiring local workers and contractors as much as possible.
About Terra Life Sciences
Terra Life Sciences believes every life deserves to be lived to its fullest potential and is unlocking that potential by researching and developing innovative cannabis-derived medical products. Combining exceptional clinical research, precise extraction, customized compounding, and standardized dosing and delivery, we are improving people's lives by bringing pharma discipline to the medical cannabis industry.
We produce pharmaceuticals, over-the-counter medications and premium grade wellness products for both the Canadian and international markets at our facilities in Olds, Alberta, and are a leading global manufacturer of pharma-grade softgels and other products. Terra Life Sciences is focused on developing new research and evidence- based formulations to revolutionize wellness. Find out more at www.terralifesciences.com.
SOURCE Terra Life Sciences
For further information: Terra Life Sciences Inc., [email protected], 403.768.1501