Aqualitas Receives Cannabis Cultivation License & Raises $8.8 Million

Nova Scotia-based cannabis producer Aqualitas Inc. announced it received its license from Health Canada to cultivate medical cannabis. It aims to have all-natural, aquaponically-grown cannabis ready for market by this summer.

Aqualitas is currently one of only three licensed cannabis cultivators in Nova Scotia and the only to use an aquaponic growing platform. This proprietary platform combines horticulture and fish farming in a mutually beneficial closed-loop system. The process requires 50% less energy, 90% less water and no synthetic chemicals or pesticides – producing all-natural cannabis.

Investors have responded well to the company, as it recently closed an oversubscribed offering of common shares for over $8.8 million CAD.

“It’s been three years of intense work…” says Myrna Gillis, co-founder and CEO of Aqualitas. “We’re excited about the company’s future and what this new industry is bringing to Nova Scotia’s beautiful south shore.…Our outstanding team of scientists, business professionals and creative thinkers has made Aqualitas a disruptor in this industry”.

The facility’s annual capacity is estimated at 9,000 kg. Expansion into a further 20 acres beginning this June will help it towards becoming the largest producer of all-natural cannabis in Canada.

Aqualitas Receives Cannabis Cultivation License & Raises $8.8 Million

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Aqualitas Receives Cannabis Cultivation License & Raises $8.8 Million