fbpx
QQQ
-2.49
316.84
-0.79%
DIA
-2.00
312.11
-0.64%
SPY
-2.91
381.49
-0.77%
TLT
+ 0.60
150.62
+ 0.4%
GLD
-2.07
175.30
-1.19%

Indus Holdings Plans To Boost Cultivation Operations

November 18, 2020 12:20 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Indus Holdings Plans To Boost Cultivation Operations

Indus Holdings Inc. (CSE:INDS)(OTCQX:INDXF) revealed Thursday it has signed a letter of intent to lease a facility to accommodate expanded growing activities.

The California-based cannabis company noted that the letter of intent considers a lease for 20 years plus an extension option of five years.

The facility answers scale demands with 300,000 square feet, which is more than twice the company’s cultivation footprint, and also provides great lease economics. It is positioned close to the company’s Monterey County operations.

Indus projects that once the facility is completely functional it could add up to 50,000 pounds of flower capacity on an annual level. It should take around one year to set up the facility for the first harvest in 2022.

“This contemplated expansion is not just another leg in our journey towards becoming the largest producer in American cannabis," Indus Holdings chairman George Allen says. “It is also about collecting all our IP along with recent horticultural and technological developments into a purpose-built facility that will yield a wider variety of flower for the world’s most discerning customers.”

Courtesy image

Posted-In:

Cannabis News Markets

Related Articles

Michigan Cannabis Sales Near $1B In First Year Of Adult-Use Sales

Cannabis sales in Michigan spiked during December, bringing the total to $984.6 million for 2020. read more

Cantor Analyst Raises Aphria And Tilray Price Targets Amid Merger

Cantor Fitzgerald analyst Pablo Zuanic expressed disappointment by Aphria Inc. (TSX: APHA) (NASDAQ: APHA) quarterly results in an analyst note published Friday. read more

Cannabis Movers & Shakers: Next Green, Cannabis Control Commission, Willow, TruTrace, HEXO, Bengal Capital, MediPharm Labs, NIHC

Here is a summary of the latest leadership changes within the cannabis industry. read more

French Energy Firm Backs Hemp-Fueled Gas Plant With $23M

French energy company Qairos Energies is financing a project that will use locally grown hemp for the production of hydrogen and methane, according to HempToday. read more

Jay-Z Touts 'End Of Cannabis Prohibition' As Roc Nation Finalizes SPAC Deal With Caliva, Left Coast Ventures

A consortium made up of CMG Partners Inc., Left Coast Ventures Inc. and Shawn Carter (Jay-Z) —with his company Roc Nation — has finalized its previously announced transaction with Subversive Capital Acquisition Corp. (OTCQX: SBVCF). read more