SIMCOE, ON, Aug. 7, 2018 /CNW/ - FIGR Cannabis Inc. is pleased to announce that Goldleaf Pharm Inc., one of its subsidiaries, completed the purchase of a 20-acre property adjacent to its facility in Simcoe, Ontario, Canada, where it  expects to build a greenhouse production facility.

"Goldleaf Pharm is advancing through focused expansion in order to meet the needs of Canadians as we prepare for the legalization of recreational cannabis in Canada," said Larry Huszczo, co-founder of Goldleaf Pharm Inc. "The additional 20-acres of land will give us more production space with the ability to grow our current footprint to more than 700,000 square feet."

"FIGR continues to innovate by focusing on brand and product development," said Volker Lauterbach, president of FIGR Cannabis. "Closing this deal moves us toward our overall strategy and investment goal of reaching one million square feet of production space for our Ontario and Prince Edward Island locations. The Goldleaf Pharm expansion will add well-located production space to support capacity and product development."

Goldleaf Pharm Inc. is a late-stage applicant under Health Canada's Access to Cannabis for Medical Purposes Regulations for required licensing to produce and sell medicinal cannabis in Ontario.

About FIGR Cannabis Inc.

FIGR Cannabis Inc. is a holding company that owns majority stakes in two Canadian cannabis producers, Canada's Island Garden in Charlottetown, Prince Edward Island, and Goldleaf Pharm Inc. in Simcoe, Ontario. FIGR Cannabis Inc. is a wholly owned indirect subsidiary of Alliance One International AOI. The FIGR brand combines generations of farm wisdom with modern scientific rigor to challenge convention and imagine new possibilities. For more information, visit www.figrcannabis.com.

About Alliance One International, Inc.

Alliance One International AOI is an agricultural company that delivers value-added products and services to businesses and customers, and is a trusted provider of responsibly sourced, independently verified, sustainable and traceable products and ingredients.

SOURCE FIGR Cannabis Inc.

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