THC Awards Construction Contract, Raises Funds

Truro, N.S. – August 10, 2017 – The Truro Herbal Co. (THC) has awarded a contract to Lindsay’s Construction of Dartmouth for the development of a state of the art cannabis production facility in Truro. Following completion, a routine inspection by Health Canada is the final step in becoming Nova Scotia’s first licensed producer of medical cannabis.

Construction of the 20,000 sqft facility will begin this month on the company’s 6.3-acre lot in the Truro Industrial Park. “We are pleased to begin working with a premier construction partner in Lindsay’s,” said Ron Meech, who oversees THC’s construction committee. “We are working towards an aggressive construction schedule to see completion by early 2018, and are confidant in Lindsay’s ability to deliver within our timelines.”

The THC also added to its current round of capital financing, raising to date $4.7 million in new cash and commitments, including from prominent Nova Scotian entrepreneurs. “These partnerships demonstrate confidence from the business community in our management team and market strategy as we head towards the legalization of recreational cannabis in 2018,” says THC President and CEO Evan Price. “These investments will enable THC to emerge as a premium producer of industry-leading cannabis products in Atlantic Canada.”

As provincial governments work to establish legislative and regulatory frameworks for cannabis distribution, The THC continues to develop new business opportunities that will ensure safe and secure sale of high-quality products to Nova Scotians in 2018