iAnthus Capital Holdings Inc. (OTCQB: ITHUF) announced on July 24th that the company’s subsidiary, Citiva Medical, LLC (Citiva), has officially broke ground on their new medicinal cannabis facility. The Citiva facility that will cultivate and process medicinal cannabis is one of ten licensed facilities in the state of New York.
Citiva’s new facility in New York is starting with 39,500 sq. ft. of space for processing and cultivation of cannabis. The first phase of construction is estimated to be completed sometime in the first half of 2019. With continued construction the facility will reach up to 125,000 sq. ft. of space.
Only the cutting-edge of technology is being used within Citiva’s new facility. The company’s facility will use state-of-the-art cultivation practices to continually cultivate cannabis. The estimated yearly yield of cannabis from this facility is 2,400kg.