HALIFAX, NOVA SCOTIA – (Dec 21, 2017) – The Truro Herbal Company (THC) has completed a private placement from IMP Group Limited that will enable THC to meet the 2018 legalization date.
“This relationship sets the foundation for an ambitious growth agenda in collaboration with one of Canada’s best managed companies,” said Evan Price, President of Truro Herbal Company. “Our partnership with an entity of IMP’s scale and international track record will enable us to solidify a leading position in the Atlantic Canadian market and beyond,” said Price.
This investment completes Truro Herbal’s latest round of financing, which saw total investment of over $12 million. The completion of a 20,000 ft2 production facility is expected in early 2018, with receipt of final cultivation and sales licensing from Health Canada to follow shortly thereafter.
Following the recent announcement of Nova Scotia’s retail framework, the Truro Herbal Company continues to develop new business opportunities that will ensure the safe and secure sale of high quality products to Nova Scotians in 2018.