SpeakEasy Cannabis Club Ltd (OTCMKTS:SPBBF) has announced the completion of an additional 13,300 sq. ft. production facility. The company has already started transferring plants into the new facility, representing a four-fold increase from its current flower production capacity.
SpeakEasy completes construction of the first facility expansion
The new facility is the first in the three the company expects to complete in Q2-Q3 2021. This will effectively increase SpeakEasy Cannabis’s total space to more than 62,000 sq. ft. of indoor licensed production and processing space.
Marc Geen, SpeakEasy’s founder, said that the company has experienced success with its indoor flower, and currently, there are orders for all it can produce going forward. Geen said that the expansion is part of the three expansions the company expects, which will help SpeakEasy fulfill market demand for the company’s flower. He said that after completing the two additions in Q2/Q3, the company will produce 700 kilograms in excess every month starting this summer.
The company completed the purpose-built facility on time within the set budget with talented construction staff and experienced Growers. SpeakEasy said that construction design and layout came from Growers, who ensured that there is enough space provided for growing the best products. Geen added that having the capacity to produce adequate flower for supply nationwide has been the company’s dream for a long. He said they have accomplished that with the outdoor field and are within sight of accomplishing that with indoor flower.
High demand for premium flower
Once the three facilities are complete, the company will be within months of full flower production. Currently, there is high demand for premium flowers in the Canadian market, which is primarily due to poor quality that has consistently disenchanted users. Interestingly, quality flower availability nationwide is low, which leaves consumers looking for premium producers offering cannabis flower at competitive prices to the black market. Following consumer feedback, the company expects to produce the best quality flower in the market, and it is increasing production to meet demand.
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