GTEC Holding's $13M deal for Kelowna cannabis facility terminated

| September 18, 2019 in Cannabis

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A defunct cannabis grow facility located along Highway 97 will now remain empty. 

On Wednesday, Kelowna cannabis company GTEC Holdings announced it has terminated its $13-million purchase agreement for a 22,580 square foot building owned by Canopy Growth.

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Canopy Growth originally purchased the facility in 2017, but never completed retrofitting the building to properly cultivate cannabis. 

In July, upon announcing the purchase agreement, GTEC estimated it would take $2-million to complete the build out. 

However, the Kelowna cannabis company offered no reason for the deal's termination.

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