The future of Canadian cannabis — that’s the vision driving the $14.6-million Nelson Cannabis Collective, slated to open in just six months’ time.
The NCC team is now touring local business owners and potential investors through its four-storey, 28,000-square-foot super-structure on Government Road, following approval from the BC Venture Capital Program, a provincial government effort designed to drive investment in BC.
The NCC is now selling shares in the company. The Venture Capital Program provides investors with a 30 per cent tax credit on their investment. A second offering, with Calgary’s Olympic Trust, will allow shareholders to set up self-directed RRSPs as well.
Having received their research and development license from Health Canada in July, NCC is on track to be North America’s first craft cannabis cultivation, processing and retail facility in a city centre.
The bold business effort comes as some large cannabis producers suffer layoffs and cutbacks in production, while the black market continues to shrink, according to NCC founder and CEO Phil Pinfold.
“We’ve been watching the big guys,” says Pinfold. “They’ve over-spent and over-grown. We’re right-sizing.”
The future, the NCC believes, is in craft cannabis — smaller scale licences and better-grown bud. NCC will produce between 2,000 and 2,400 kilograms of cannabis a year in its first tower and grow rooms, selling out of a main floor retail space. Plans are in place for a second tower.
The collective is also banking on provincial approval of direct sales and farmgate legislation, which will allow for sales directly to local stores and consumers, like wineries and craft breweries.
With as many as 60 jobs created at full build-out, Pinfold says the NCC is aiming to engage the expert level of the Kootenays’ cannabis legacy workforce.
“We talk to people all the time who say, ‘I just want to tell people I grow weed for a living.’ They’re proud of it.”
The NCC investor group includes Pinfold and his brother Peter, Mountain Culture Group owner Mitchell Scott, master grower Jamie Fochuk and lead investor/director Sam Feldman, a member of the Canadian Music Industry Hall of Fame and philanthropist, whose past clients included Joni Mitchell, Leonard Cohen and Bryan Adams. For a viewing of the property and investment details visit nelsoncannabiscollective.com.
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