News

Major milestone for North Okanagan’s Lotus Cannabis Co.

Published on September 10, 2021 by oz. staff

A North Okanagan cannabis producer is about to start selling under its own name.

Lotus Cannabis Co., located near Armstrong, has now received its standard processing licence from Health Canada. That means they can sell cannabis directly to provincial distributors.

You may have already seen eighths of their Kalifornia cultivar under the Kolab Project name, as the company has already been selling wholesale and to medical customers.

However, you’ll soon see Lotus-branded products in local stores.

Lotus CEO Dale McClanaghan says this is an exciting milestone and a major step forward.

“We have delivered on our strategic objectives as a wholesale company by consistently producing premium cannabis profitably,” he says.

“Our unique Kalifornia cultivar has established a proven demand in key markets such as Ontario and Alberta, and we look forward to increasing our direct sales nationwide by offering new and exclusive products from our seed bank of over 200 high quality cultivars.”

The processing licence also means Lotus can sell extracts, concentrates, and edibles—though they don’t intend to offer those products in the near future.

Lotus says its management is now in discussion with an institutional lender to provide term loan financing for an expansion on its 23-acre North Okanagan property.