North Dundas Chamber of Commerce AGM
CHESTERVILLE — The CEO of the Vancouver-based company involved in pot plans at the former Nestlé plant here will address tomorrow night’s North Dundas Chamber of Commerce annual general meeting at the 171 Main Street North facility.
The Chamber has recently confirmed the attendance of Cannabis Wheaton Income Corp.’s Chuck Rifici at the Feb. 21 event. Rifici is one of 125 guests signed up for the meeting, which has garnered a great deal of interest in the local business community this year. (Registration to attend has now closed.)
Publicly-traded Wheaton is partnering with the local owners of the 373,000-square-foot factory — IDP Group Inc. — to turn it into a marijuana production facility. Rifici founded Canopy Growth (formerly known as Tweed) which pulled off a similar conversion at the former Hershey factory in Smiths Falls.
Wheaton plans an initial $12-million investment in Chesterville, following successful completion of a 60-day due diligence period — on which the clock has been ticking for almost a month already — to formally complete a deal with IDP.
If all goes according to plan, IDP will form a new subsidiary — CannabisCo — to operate the facility, which will employ a proprietary vertical-growing technology to maximize production. The operators envision a workforce of more than 300 people.
IDP’s Hamed Asl will also deliver an update from the local perspective at the AGM and lead tours of the plant site prior to the official start of the meeting.