Okotoks residents had the opportunity to learn about micro cultivation for cannabis.

On Feb. 21, Arete Cannabis Consulting Inc. filled the audience in at Foothills Centennial Centre on what they need to know about being a small scale producer.

Micro cultivation is when cannabis is grown in an area that is less than or equal to 2,154 square feet/ 200 square metres. Think of micro cultivation as a cannabis version of a micro brewery.

Lindsay Blackett, Partner at Arete Cannabis Consulting Inc., is the former Minister of Culture and Community Spirit and a former Member of The Legislative Assembly of Alberta for Calgary North West. He is also the past President of the Canadian Cannabis Chamber and now focuses on steering cannabis businesses through the regulatory process.

Blackett says with so many moving pieces in larger operations, micro cultivators will be a constant resource.

"As all the upheaval happens amongst some of the larger producers, there's solidification, there's buyouts, mergers, all that sort of thing. One of the constants will be the smaller producer and medium producer who will continue to support their local market and that I think is going to happen right across the country and I think people always like to buy local if that choice is given to them."

There is currently no cap on the number of micro cultivators allowed with currently just one approved micro cultivator in Canada which is located in BC.

Blackett says there's possibilities for micro cultivation to provide an economic boost to the region.

"It's a significant advantage in terms of finances, not just for the operator, but that means they're going to have to hire people and usually that would be local people, they're going to paying more taxes, business taxes to the local municipality, and those people who are employed are going to be paying taxes and all of them collectively are going to be spending money in the community which gives everybody an economic shot in the arm, which is sadly needed not just for the Foothills region but everywhere else in Alberta."

Blackett feels there is a great deal of earning potential with cultivating cannabis compared to traditional crops.

"That simple 200 square metre facility, you grow between 600 and 800 kilograms a year and if you're able to get five dollars per gram... you can be making anywhere between three and four million dollars with a set up cost anywhere between 1.5 and 2.5 million dollars," he explains. "So chances are you're going to make profit and almost pay back your investment after 12 to 24 months and then the profit is pretty nice there after. Juxtapose that with 500 dollars an acre for barley and canola and some of those other crops."

More information on micro cultivation can be found by clicking here.

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