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news.Primco Management (PMCM), a fully integrated multi-media entertainment and real estate development company, has entered into a joint venture (JV) agreement with CanMed Ventures, a British Columbia company, to build and operate a 30,000ft² cultivation facility for the production of medical marijuana.
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The new JV will produce and dispense legal medical cannabis to Health Canada patients in British Columbia.
CanMED expects to complete the licensing process in the next few months, while construction would start once Primco gets a suitable location.
The new JV is expected to be fully licensed within six months; with first year revenues expected to exceed $20m.
Primco Management CEO David Michery said the company has made a corporate decision to become a major player in the medical cannabis industry and the construction of a facility of this nature is the first step in building a $100m company.
"We are extremely excited to be partnering up with CanMED, under the leadership of David Irwin, the company’s CEO," Michery said.