Quebec cannabis producer, ROSE Lifescience Inc. recently announced a significant investment of $7.5 million from Tilray, Inc. a global pioneer in cannabis production and distribution, as well as an exclusive sale, supply, distribution and marketing agreement with High Park Farms Ltd., a subsidiary of Tilray.
The strategic agreement and investment by Tilray represent a commitment to increase supply to the Québec market while delivering high-quality locally-grown products to consumers.
As a result, cannabis produced in the 54,000 square-foot Huntingdon-based facility now under construction, including the existing Dubon brand, will be available in Quebec through the Société Québécoise du Cannabis (SQDC).
“This partnership accelerates our plans to improve Québec’s position in the worldwide cannabis market. We are extremely proud to be working with a medically-focused global leader in the cannabis industry, and look forward to jointly improving Québec’s safe and legal adult-use cannabis market” says Francois Limoges, co-founder and Chief Marketing Officer, ROSE LifeScience Inc.
ROSE Lifescience Ltd. has already applied for a Health Canada cultivation, processing and sales license, and once approved it will exclusively supply High Park Ltd.’s adult use cannabis products in the Québec market. In addition to the cultivation facility currently being built in Huntingdon, this investment accelerates ROSE’s previously announced plans to inject over $80 million into the province, including its planned 100,000 square foot phase II expansion, as well as contributing to the creation of hundreds of new jobs in Huntingdon.