Agreement moves company forward in application with Health Canada for processing and sale of cannabis products in the extraction and derivative products space
EDMONTON, Nov. 13, 2019 /CNW/ - Token Naturals Ltd. ("Token Naturals") has announced it has executed a long-term lease on a commercial space in Edmonton, Alberta. The building, located on a 60,000 square foot lot in an industrial area of central Edmonton, will be the base of operations for the privately-owned Canadian cannabis company. With a Major Development Permit from the City of Edmonton also acquired and a Building Permit application submitted, Token Naturals will begin retrofitting an 8,300 square foot facility for cannabis extraction and refinement.
As a late-stage Licensed Producer applicant with Health Canada, Token has cleared the Intake and Screening stage and has permission to build its production facility as the next step towards licensing. With design and build teams secured, Token expects to begin retrofitting and construction immediately after taking possession on November 5th and intends to complete the facility in April 2020. Upon facility inspection and approval to process cannabis products from Health Canada, Token intends to produce extracted products for licensed businesses and recreational consumers. The company will also offer tolling services and contract manufacturing. Token anticipates being licensed for processing imminently following the completion of the building and being licensed for sales by June 2020.
Zoned for Industrial Medium commercial use and recently purchased by an independent group, the building will provide Token Naturals with 8,300 square feet of initial space along with the ability to eventually expand to 13,500 square feet within the existing structure and into new structures on the 60,000 square foot lot.
Token Naturals has tapped Edmonton-based architecture firm NEXT Architecture and trusted construction services company Delnor as partners to construct its facility. Precision Engineering has been engaged for process engineering work.
The facility will be the most centrally-located cannabis processing facility in Edmonton, placed intentionally in an industrial area away from residential neighbourhoods. The facility will feature self-contained manufacturing systems and no cultivation will take place on site, removing the risk of odour emissions.
Commenting on this milestone, Token Naturals' CEO Keenan Pascal said, "signing this lease with a committed ownership group as partners is an exciting step forward for Token and moves us closer to our goal of producing innovative cannabis products in the legal derivatives market. We're ready to build a state-of-the-art facility to produce a variety of extracted products that enhance experiences and wellbeing."
The building is designed to house extraction, packaging and office facilities. At full capacity, the facility is anticipated to have the ability to process up to 65,000 kg of dried flower into extracted products per year and is expected to create 39 jobs for Albertans by 2021. Token plans to supply extracted products in wholesale to licensed cannabis producers and direct to consumers through licensed adult-use cannabis retailers.
Token is currently in its A Round of investment and is negotiating with input suppliers and licensed cannabis retailers across Canada.
About Token Naturals Token Naturals Ltd. is an Edmonton-based independent cannabis company focusing on extraction and derivative products. As a late-stage Licensed Producer applicant with Health Canada, Token has cleared the Intake and Screening stage and expects to receive a license within two months of facility completion. Token plans to create products for businesses and consumers that enhance the experiences and well-being of those who enjoy cannabis as part of a full and balanced life. www.tokennaturals.com Instagram @tokennaturals
SOURCE Token Naturals
For further information: For media inquiries, please contact: Carla Mitchell, Director of Communications, Token Naturals, [email protected], 604.505.4010