Cannara Biotech (CSE: LOVE) (OTCQB: LOVFF) (FRA: 8CB) has completed the process required to obtain a license to cultivate and process cannabis.

The company announced that it has submitted its site evidence package to Health Canada for the first phase of its cultivation and processing facility in Farnham, Quebec. The facility is situated on 27-acres of land located 45 minutes from Montreal.

The submission of the site evidence package is the final step required to obtain a license to cultivate and process cannabis at the facility.

Construction is complete on the first phase of the Farnham facility. The first phase consists of 170,000 square feet, of which 110,000 is dedicated to indoor cultivation with a capacity of 20,000 kg of premium dried cannabis once the cultivation license is granted. The remaining finished space will accommodate various processing stages such as manufacturing, extraction and packaging, according to Cannara.

“With new pending cannabis derivative legislation and a maturing cannabis market, we are extremely well-poised to execute on our growth strategy to be a leader in these markets,” Cannara President and CEO Zohar Krivorot stated.