(Photo credit: True Leafs Brands)

By Pete McIntyre

True Leaf Brands

Local cannabis company makes key hiring, puts Lumby industrial lots up for sale

Sep 22, 2021 | 11:35 AM

A Vernon-based cannabis company has been making news this week.

True Leaf Brands has launched the sale of phase one of its Monashee Gateway Business Park project in Lumby.

The phase includes six lots covering 7.8 acres of land valued at approximately $6.4 million in the Okanagan commercial real estate market. An additional 32 acres will be subdivided and developed in subsequent phases.

“This project is an innovative financial solution that secures the future of True Leaf,” said Darcy Bomford, CEO of True Leaf. “If successful, it will allow us to continue to invest in our new business model and launch our market-ready services program for micro-cultivators on strong financial footing. Our focus remains on working towards delivering strong and sustainable value for our shareholders.”

True Leaf’s 19,500 square foot craft cannabis facility will anchor the Monashee Gateway Business Park.

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Bomford said the project will create a diverse and vibrant economic hub in Lumby.

“The site offers a variety of possibilities for build-to-suit industrial, manufacturing, and office users. The project also provides a unique opportunity for craft cultivators to access land zoned for regulated cannabis activities,” Bomford explained.

“Demand for industrial land in British Columbia is at an all-time high,” said Jeff Brown, team leader at William Wright Commercial Real Estate Services and sales agent for the project. “The market’s response has been extremely positive surrounding this project, and this opportunity provides accessibility to the same product at a fraction of the cost compared to the neighbouring city only a 10-minute drive down the road.

More information on the Monashee Gateway Business Park is available at www.williamwright.ca.

True Leaf has also announced a new hiring in its management ranks.

Legacy market veteran Andrew Gordon has been appointed Vice President of Strategic Growth of the company’s True Leaf Cannabis division. Gordon will transition to Chief Executive Officer of the division upon security clearance and Health Canada approval.

Andrew Gordon has been appointed Vice President of Strategic Growth of the company’s True Leaf Cannabis division (submitted photo: True Leaf)

“Andrew’s wealth of industry experience, combined with his compassionate approach and advocacy for the destigmatization of cannabis, have made him a well-known and respected industry professional,” said Bomford. “He is committed to ensuring True Leaf Cannabis continues to work towards making a meaningful economic impact within the local community and is inspired to drive sustainable growth and set strong revenue targets to increase shareholder value through an authentic working relationship with craft cannabis producers.”

“I believe bringing True Leaf’s innovative services model to life will alleviate key bottlenecks and inefficiencies within the regulated supply chain, especially here in British Columbia where so many producers are shipping their products out of province to be processed,” said Gordon.

Gordon will lead customer acquisition and, once he has obtained security clearance and approval from Health Canada, operations at the company’s craft cannabis hub facility in Lumby. Once Gordon transitions to the role, Bomford will step down as CEO of the division and continue to serve as CEO and director of the parent company, True Leaf Brands Inc.