Thrive Cannabis to Expand Indoor Capacity and Convert Outdoor Harvest Into Premium Concentrates

TORONTO, Dec. 03, 2019 (GLOBE NEWSWIRE) -- Thrive Cannabis, a federally-licensed producer of premium, craft cannabis, based in Simcoe, Ontario, today provided a company update on its facilities, operations and expansion plans.

Update on Operational Facilities:

To complement its existing indoor growing facility, Thrive obtained its outdoor cultivation license in June of 2019 from Health Canada, and a month later planted an initial four acres (174,000+ sq ft) of outdoor grow in Simcoe, Ontario, where it has approximately 180 acres under license. Thrive Cannabis has begun the planning and construction of an additional 60,000 sq ft of premium indoor cultivation, processing and extraction space, with the capability for automated GMP manufacturing.

Update on First Outdoor Harvest:

Thrive completed its first outdoor cannabis harvest on October 15th, 2019, where it collected a yield of 13,289,000 grams (total wet biomass), using just 1,657 plants (an average of 8 kg per plant). Thrive plans to convert this outdoor crop into premium concentrates that it estimates has a retail value of over $30,000,000.

“With our current indoor facility generating AAAA grade flower, our recent outdoor harvest creating a substantial stockpile of extractable material for conversion into premium concentrated products, and the upcoming construction of a new indoor facility, plus an additional nine acres of outdoor planned for 2020, the future is looking extremely bright for Thrive.”

— Geoff Hoover, CEO – Thrive Cannabis

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