VANCOUVER, British Columbia, Jan. 29, 2019 (GLOBE NEWSWIRE) — Grow Tech Labs (GTL), a Cannabis Business Accelerator, announced the development of a co-operative for small cannabis producers and processors in BC to help maintain the province’s historic position as a global cannabis leader.

In partnership with Victory Square Technologies (CSE:VST), Grow Tech Labs is inviting small cannabis producers and processors in BC to participate in 3 things:

  1. A provincial consultation process to help shape the provincial co-op
  2. Canada’s legal marketplace
  3. Ensuring BC cannabis products find their way to consumers across the province, Canada and around the world.

CEO Barinder Rasode said:

“GTL’s mission is to accelerate the pace that small producers and processors enter the legal marketplace.

With supply shortages across the country, it is even more important to retain the capacity, experience and knowledge small BC producers and processors have accumulated over decades.”

Grow Tech Labs is establishing a working group of sector leaders and experienced co-op professionals to develop a provincial engagement plan, transparent governance structure and application to incorporate a BC Small Cannabis Producer and Processor Co-Op within the provincial Co-operative Association Act.  The business model will include a retail network in accordance with BC regulations.

“BC has a lot to gain by ensuring thousands of existing Health Canada registered growers are active participants in Canada’s cannabis economy,” adds Rasode. “With their combined capacity, these small BC producers and processors could become one of the largest cannabis enterprises in Canada.”

In addition to being Canada’s traditional cannabis capital, BC is home to one of the country’s most vibrant co-operative movements, with 2 million members, 700 co-op businesses and almost $50 billion in assets. GTL has been exploring the feasibility of developing a cannabis co-op with the BC Cooperative Association and will expand this collaboration to include other provincial, federal and municipal agencies.

“We want 2019 to be the year of small cannabis producers and processors in BC,” concludes Rasode. “GTL is inviting these innovators to be part of a new economy and make a lasting contribution to our society instead of retiring, finding a new line of work or joining the black market.”

British Columbians are invited to participate in this process by contacting the Co-Op Accelerator directly at david@bcscpp.com.

All communication is confidential. Participants are not required to disclose their address or pay any fees to become involved in the co-op’s development phase.

“We are excited to see micro-growers participate in this cooperative. It’s going to be an exciting year for small producers and we look forward to supporting the craft cannabis market in British Columbia,” says Shafin Diamond, Co-Founder of GTL and CEO of Victory Square Technologies.

Backgrounders:       

  • Accelerating Market Access for Small and Medium-Sized BC Cannabis Producers/Processors
  • Co-Op Model
  • Small BC Cannabis Producers and Processors Co-Op
  • Environment Scan: Role of SMPs in Canada’s Legal Cannabis Marketplace

 

Featured image courtesy of Bitcoin Exchange Guide.