May 15, 2019

Purileaf completes fundraising round to finance expansion of its Niagara Falls facility.

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Purileaf recently secured funds for the expansion of its Niagara Falls facility to 23,000 sqft through a private financing round.  The expansion will allow Purileaf to significantly increase its production capacity and diversify its processing capabilities.  It will also provide additional space needed to grow the co-packing arm of its business, which will include the development and production of white-label, cannabis-infused offerings, including oil extracts and edibles for nutritional, adult recreational and medical use.

Approximately half of Purileaf’s expanded footprint will be dedicated to food production, bolstering Purileaf’s capability and capacity to contract manufacture cannabis-infused drinks, edibles and inhalables.  The remainder will be dedicated to the establishment of large-scale extraction lines collectively capable of processing over 400,000 kg of raw material per year – ample capacity to satisfy a large portion of the continuously increasing demand for contract processing services, as well as to supply the upcoming edibles and drinkables market through Purileaf’s brands division. 

Purileaf management views this expansion as a key milestone in its strategy to add further scale to its platform, allowing it to streamline operations, reduce costs, and establish itself as a leading Canadian cannabis processor.   Expansion plans have been fully developed, with minor variance and site plan approval application currently underway with the City of Niagara Falls.  Management estimates that construction will begin in Q4, 2019 and complete by Q4, 2020. 

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