Market Overview

SpeakEasy Cannabis Gets License For 2.6M Square Foot Area


SpeakEasy Cannabis Club (CSE: EASY) has received an amendment to its license from Health Canada for its 2.6 million square foot outdoor field.

The amendment represents an expansion of its licensed cultivation area from 10,000 square feet to over 2.6 million square feet. The newly licensed area is more than 250 times bigger than the former licensed one.

"We have been eagerly awaiting the day we could grow outdoors," said Marc Geen, Founder of SpeakEasy. "With the favorable climate here in Rock Creek, the advantages we have due to our location can not be overstated. Being licensed to grow in our 60 acres of outdoor grow area puts us in a position to be a global leader in the cannabis industry due to our size, location, and efficiency."

The company's facilities were located in Rock Creek, British Columbia, looking for the best climates in Canada in which to grow cannabis. The arid climate with warm summers and fall with very little rainfall, each a critical element for large scale outdoor production of cannabis in Canada.

SpeakEasy's projected cost of the outdoor-grown flower is less than 10 cents per gram, extract materials suitable for all forms of value-added products are expected to cost less than 4 cents per gram to produce at SpeakEasy's outdoor production field

"The scale and cost-efficiency of the operation opens the opportunity to be competitive in domestic as well as global markets," said SpeakEasy CEO Bin Huang.


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