MJardin announced that the Company received a C$11 million payment towards the previously announced Letter of Intent (LOI) joint venture agreement with Peguis First Nation (51%) that will see Peguis purchase the existing land and buildings from MJardin and additionally fund the capital expenditures required to complete Phase 2 of the facility for approximately C$20.5 million. The joint venture agreement is expected to close in early 2020.
Posts published in “MJardin Group”
Cannabis partnership with Mi'kmaw investment ready to turn over a new leaf. cannabis company whose ownership is majority owned by Nova Scotia's 13 Mi'kmaw communities says the company is close to taking its product to market.
RAMA First Nation and MJardin Group Release Designs for Combination Indoor/Greenhouse Cannabis Campus
RAMA – Pursuing Cultivation, Sales and Extraction Licensing – located in Rama, Ontario, this facility is a joint venture between MJardin and Rama First Nation which will bring large-scale cannabis cultivation, extraction, and retail to Rama, Ontario and the surrounding region. The partnership’s first major project is in the planning and development stage for the construction of a 75,000 square foot cannabis production facility with 9,000 kg per year of production capacity.
Some First Nations chiefs say the legalization of recreational cannabis is already creating badly needed jobs for their communities.