Cobourg’s former Kraft plant is about to be transformed into a multi-million square foot medical marijuana facility, which could generate as many as 1,200 jobs in 5 years.
Thomas Fairfield, President and CEO of FV Pharma Inc. told the Toronto Star his company secured a license from Health Canada on Friday.
The Whitby based company has plans to harvest its first crop as early as February of 2018, and to employ 150 by the end of next year.
FV Pharma also intends to purchase the entire 15 acre property with a December closing date.
89.7s John Hill interviewed Fairfield, pictured above, about the planned operation earlier this year on Week In Review.
The Government of Ontario has indicated that it is considering a retail price of $10 per gram when marijuana becomes legal next July 1st.
The sale of marijuana could bring in a tax windfall of more than $100 Million per year.