Major buzz: Argentia Gold rolling out 500,000 joints per week from old Newfoundland military base | SaltWire

, prior to Placentia Bay Holdings' purchase of it in 2017. Placentia Bay Holdings is the parent company of Argentia Gold.

"Everybody knows the marijuana industry wasn't so lucrative as everybody expected," said Keating."I'll tell you, the fact is that right now in Newfoundland, it's got to be all internal growth. There's not nights for an outdoor grow. It's very expensive with the lighting, heating, HVAC systems and everything."The company presently handles two harvests annually of its own indoor, locally-grown crop.

"You look at a population of 500,000 people. Take 50 per cent of those that are not recreation smokers, then you take that by half off the black market. You're looking at least seven on the island, fighting over 150,000 users. Do the math."Keating suggests black-market cannabis outsells licensed producers at a 5-to-1 ratio . Price has been recognized as a contributing factor, withnoting in 2020 that a legal gram of cannabis cost 55 per cent more than black-market cannabis .

There are also sister companies of Argentia Gold such as Baked Babes and Level Up, the latter of which produces cannabis drinks and sleep aids.A worker places empty paper tubes in a shaker before filling pre-rolled joints at the production facility in Argentia. - Keith Gosse

Source: News Formal (newsformal.com)

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