Glass House Brands Inc. (OTCQX:GHBWF) (NEO:GLAS.A.U) (NEO:GLAS.WT.U) (OTCQX:GLASF) has received California state cannabis licenses, as well as a cannabis business license from Ventura County, for the phase-one retrofit of the company's 5.5 million square foot greenhouse located in Southern California.
Receipt of the licenses enables Glass House to commence cultivation activities at the SoCal Facility, which included an initial transfer of approximately 30,000 clones from the company's nearby cultivation facility in Santa Barbara, California. The first harvest from the SoCal facility is expected in the third quarter of 2022.
"The receipt of the required licenses for our SoCal facility is one of Glass House's most significant milestones to date, and we are beyond thrilled to initiate planting in our recently converted greenhouse," stated Kyle Kazan, Glass House chairman and CEO.
"With our first harvest only months away and the first phase of the retrofit of the SoCal facility nearing completion, we are on track to becoming the leader in cannabis cultivation capacity. However, it is our best-in-class craft cannabis cultivation practices; and our high quality and low-cost production capabilities that will provide us with a competitive advantage in the world's largest cannabis market."
The SoCal facility consists of six, high-tech, environmentally controlled agricultural greenhouses totaling approximately 5.5 million square feet, located on a 165-acre property in Ventura County, California. The phase I retrofit involves the optimization of approximately 1.7 million square feet of the SoCal facility for high-quality cannabis cultivation. Included in the first phase retrofit is the conversion of two greenhouses, one of which will consist of a nursery for clones to support the entire facility and the other of which will be used for flowering and have a capacity of approximately 180,000 dry pounds of cannabis per year. Also included, and under construction is a packhouse for processing and a separate distribution center which will support the cultivation operations.
