The facility will initially produce more than 5,000kg of cannabis annually. Canopy expects first harvests to become available to the market within six months.
Canopy developed the facility – operating under the company’s Tweed brand – is developed in collaboration with Canopy Rivers (TSXV: RIV).
The plant will boost Canopy’s cannabis production capabilities, supporting the company’s global and local operations focused on recreational and medical customers.
“New Brunswick has emerged as a leader in the legal cannabis sector and the province is an excellent place to do business,” Bruce Linton, co-CEO and Chairman of Canopy, said in a statement. “We will leverage our existing operational expertise to ensure we support the needs of our customers while making a meaningful contribution to the local economy primarily through new job creation.”