Economy

New Hemp Company Buys Manitoba's Pineland Forest Nursery

New Hemp Company Buys Manitoba's Pineland Forest Nursery
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Botanist Organic Growers, a new hemp producer, has bought Manitoba's Pineland Forest Nursery with plans to become one of the biggest organic hemp CBD producers in the world. The greenhouse facility is located near Hadashville, Man., and was purchased from the province for $1.43 million. According to a government spokesperson, the company plans to lease the land for $240,000 a year.

Plans are already underway for Botanist Organic Growers to convert the greenhouses into a CBD production facility. "We have an opportunity to build a global leader in CBD right here in Manitoba," Duncan Gordon, the company's co-founder, stated. "We expect to be one of the world's major players in the world's CBD market in the near future... Our focus will be on producing a premium organic hemp CBD."

Founded by Gordon and Jeremy Towning, its CEO, Botanist Organic is a new Canadian hemp company. With an eye towards growth, it's looking to hire up to 200 people over the course of the next three years.

The Pineland Forest property is a 121-hectare nursery consisting of over 300,000 square feet of research and greenhouse facilities. While it grew seedlings for the province and for export in its previous life, the Progressive Conservative government shut it down late last year and put it up for sale. It had been losing the province $500,000 a year, and the government wrote off its accumulated $4 million debt.

With the purchase, the University of Winnipeg will be preserving the nursery's former seed bank. Botanist Organic Growers plan to use the facilities to extract CBD from hemp. CBD has been increasingly prized for its purported health and wellness benefits, and use as an alternative medication for pain relief. Unlike cannabis' more famous derivative THC, it doesn't get consumers high.

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