Tuesday, November 20th, 2018, an announcement was made after months of negotiations, the deal with Auxly Cannabis as it relates to the Chesterville Facility has been officially cancelled. There were fundamental differences in strategies between the two companies that would not enable our organization to successfully develop the 330,000 square-foot project while maintaining our vision.
We delayed our announcement to extend Auxly the professional courtesy for the first press release, before doing our own. Some individuals have concluded the entire cannabis project in Chesterville is dead. This assumption is completely inaccurate.
We have already commenced the process in applying to Health Canada to secure our licensing as the first step to launch the project.
Concurrently, negotiations are being conducted with multiple interested parties that include both private and financial institutions that have expressed warranted commitment in investing in the project in phases once a Cannabis Cultivation License is obtained from Health Canada.
As of November 1st, 2018, we are self-funding the project in the following manner:
1. We have allocated $500,000.00 towards licensing;
2. Construction of the first cultivation rooms & processing area will begin January 2019;
3. $50,000.00 has been allocated towards finalizing the development and initiate patent processes of our proprietary vertical farming system with partnerships including local technology companies;
4. We have paid the Township of North Dundas $250,633.77, as of November 1st, 2018, completing our tax extension agreement 7 years early, with interest.
5. We have invested just over $2 million dollars into restoring the facility & preparation of this project up to date;
6. We recently secured our new President, Jim Harper, and VP of Financial, Stephen Davies, and will be actively seeking candidates for positions of Master Grower and Quality Assurance in February of 2019. Interested Candidates are encouraged to forward their resumes to jim email@example.com
7. Additional updates on additional job postings for all production / construction & logistic positions will be forthcoming.
We want to express sincere gratitude to everyone locally who has been providing support for this project that includes our staff, all the members of the community, and our township officials.
We fully believe in this project and will continue to move it forward until such a time that the RIGHT partner that believes in our vision, core values & community commitment presents itself and is as excited as we are to become a part of this community. If that doesn’t happen, we will roll our sleeves an inch higher than before and do it ourselves.
To those who thought somehow this would be the end, thanks for the chuckles, and sorry to disappoint.
Hamed Asl & Mike Dagenais
IDP Group Inc.