patagonia polo shirt GrenEx licensed as first Edmonton cannabis company

polo ralph laren GrenEx licensed as first Edmonton cannabis company

After years of preparation, an Edmonton company has finally received a licence to start operating the city first medical cannabis grow op.

GrenEx Pharms Inc. has spent about $4 million developing a 930 square metre marijuana cultivation facility inside a former south Edmonton warehouse, but Health Canada only issued a licence Sept. 29 after initially approving the proposal in 2013.

been sitting empty for two years almost completely built out Health Canada doesn want an oversupply, to prevent illicit activity, so they want production to meet demand, GrenEx chief executive John Simon said during a tour of the site.

so many opportunities in this business for medical products, formulations, export, but they not open to the company until you get that licence. We in the club now, so I think we OK with whatever it took to get here. now has four of Canada 64 licensed producers.

Simon, who has a background in pharmaceutical manufacturing, quality assurance and regulatory affairs, expects to produce 1,000 kg of dried bud a year once the plant is in full operation next spring.

That output could be worth $10 million annually, not bad for a company with a half dozen employees owned by two Edmonton men Simon wouldn identify.

He agrees it could be a profitable field.

hope it is. It tough to get to this point. There are a lot of costs to remain compliant. We talk about the effort to get the licence and maintain the licence, he said.

is another piece of this we will have to do something about. envisions filling a cannabis niche, growing pot at a pharmaceutical standard containing moderate levels of psychoactive THC to avoid adverse reactions among customers and possibly selling to other companies rather than the public.

They likely carry strains without the strong, distinctive marijuana odour.

doesn have to be skunky weed. There some stuff that smells like lemons,
patagonia polo shirt GrenEx licensed as first Edmonton cannabis company
some nice fragrant stuff. low profile facility there isn even a GrenEx sign outside contains rooms with rows of aeroponic pots for propagating cuttings from mother plants, growing them and producing flowers to be dried and sold.

No dirt means fewer pests and less need for pesticides.

Lighting is crucial. While dim green bulbs illuminate some spaces so the omnipresent security cameras can keep an eye on the stock without starting growth, the bloom room is lit to trigger flowering with yellowish 1,000 watt metal halide lamps so bright the workers need sunglasses.

The mother room at GrenEx Pharms, the first company to have a licensed medical cannabis facility in Edmonton.

Elsewhere in the one storey building, charcoal filters remove the bud bouquet and other aromas before air is vented outside.

The IT room has 3.2 petabytes, or roughly 3,200 terabytes, of data storage because the 24/7 security video must be saved for two years.

One hallway contains a vault large enough to hold $6.2 million worth of product.

Of course, people looking for a buzz will likely be a huge market once Canada legalizes recreational pot next July, but Simon also sees potential selling vaporizers and other devices, as well as exporting overseas marijuana is allowed in several American states, but they can import it.

He met with Alberta Gaming and Liquor Commission officials last week to discuss Alberta planned retail system, which he hopes relies on private companies rather than government stores.

Although other firms are developing local growing facilities, Simon is happy his group received its licence before anyone else.

from Edmonton. We live in Edmonton. Being first in Edmonton, there a lot of pride in being able to do that, he says, adding their pioneering position probably won provide much of a competitive advantage.
patagonia polo shirt GrenEx licensed as first Edmonton cannabis company

patagonia polo shirt Stores closing at a record pace as e

naval academy water polo Stores closing at a record pace as e

The battered American retail industry took a few more lumps last week, with stores at both ends of the price spectrum preparing to close their doors.

At the bottom, the seemingly ubiquitous Payless shoe chain filed for bankruptcy and announced plans to shutter hundreds of locations. Ralph Lauren, meanwhile, said it will close its flagship Fifth Avenue Polo store a symbol of old fashioned luxury that no longer resonates with today’s shoppers.

And the teen apparel retailer Rue21 Inc. could be the next casualty. The chain, which has about 1,000 stores, is preparing to file for bankruptcy as soon as this month, according to people familiar with the situation. Just a few years ago, it was sold to private equity firm Apax Partners for about a billion dollars.

“It’s an industry that’s still in search for answers,” said Noel Hebert, an analyst at Bloomberg Intelligence. “I don’t know how many malls can reinvent themselves.”

The rapid descent of so many retailers has left shopping malls with hundreds of slots to fill, and the pain could be just beginning. retail space, or nearly 1 billion square feet, may need to be closed, converted to other uses or renegotiated for lower rent in coming years, according to data provided to Bloomberg by CoStar Group.

The blight also is taking a toll on jobs. According to Labor Department figures released on Friday, retailers cut around 30,000 positions in March. That was about the same total as in February and marked the worst two month showing since 2009.

Urban Outfitters Chief Executive Officer Richard Hayne didn’t mince words when he sized up the situation last month. Malls added way too many stores in recent years and way too many of them sell the same thing: apparel.

“This created a bubble, and like housing, that bubble has now burst,” he said. “We are seeing the results: Doors shuttering and rents retreating. recession was raging, according to Credit Suisse Group analyst Christian Buss. About 2,880 have been announced so far this year, compared with 1,153 for this period of 2016, he said in a report.

Extrapolating out to the full year, there could be 8,640 store closings in 2017, Buss said. That would be higher than the 2008 peak of about 6,200.

Retail defaults are contributing to the trend. Payless is closing 400 stores as part of a bankruptcy plan announced last week. The mammoth chain had roughly 4,000 locations and 22,000 employees more than it needs to handle sluggish demand.

HHGregg, Gordmans Stores and Gander Mountain all entered bankruptcy this year. RadioShack, meanwhile, filed for Chapter 11 for the second time in two years.

Other companies are plowing ahead with store closures outside of bankruptcy court. Penney are shutting hundreds of locations combined, reeling from an especially punishing slump in the department store industry.

Others are trying to re emerge as e commerce brands. Kenneth Cole Productions said in November that it would close almost all of its locations. Bebe Stores Inc., a women’s apparel chain, is planning to take a similar step, people familiar with the situation said last month.

“Today, convenience is sitting at home in your underwear on your phone or iPad,” Buss said.

The Seattle based company accounted for 53 percent of e commerce sales growth last year, with the rest of the industry sharing the remaining 47 percent, according to EMarketer Inc.

While high end malls continue to perform well, the exodus away from brick and mortar stores is taking a toll on so called C and D class shopping centers, according to Oliver Chen, an analyst at Cowen Co. than in other countries.

“Retail square feet per capita in the United States is more than six times that of Europe or Japan,” Urban Outfitters’ Hayne said last month. “And this doesn’t count digital commerce.”

Still, the Class A malls continue to thrive, Chen said. And most Americans continue to do shopping in person: Customers prefer physical stores 75 percent of the time, according to Cowen research.

The key is creating the right experience, whether it’s online or off.

Retailers should “refocus on customers,” Chen said. “Management needs to be fixated on speed of delivery, speed of supply chain, and be able to test read and react to new and emerging trends.”
patagonia polo shirt Stores closing at a record pace as e