Based in London, Sativa Investments who currently run a cannabis testing facility, have been given planning permission to construct a 7.5 acre cannabis farm in an undisclosed location in Wiltshire.
Last year, Sativa Investments were growing around 10 acres of industrial hemp after being provided a Home Office license.
However the 10 acres of hemp was being grown outdoors, which was a major security issue – Three locals stumbled on the crop and filmed it, later publishing the video, along with a location on social media. This caused Sativa Investments to destroy the crops in fear that others would come and take the crops.
The new location is expected to cost the firm £10.5 million to construct. Of the total 7.5 acres, around 200,000 square feet will be used as greenhouse space for growing cannabis.
Initial losses will be quickly recouped – Sativa Investments are expecting around 40g of cannabis per square foot and are hoping to make £32 million in their first harvest.
Sativa Investments are also offering owners of the land a large discount in shares of their company – share prices of Sativa Investments are currently 11.9p and they’re offering the land owners 5p per share.
Industry advise/Growing setup
At the undisclosed location, Sativa Investments will be testing various growing techniques in the greenhouse(s) such as hydroponic grows along with various lighting setups. It is thought that Veritas are going to aid in determining the optimum growing setups and best strains for Sativa Investments to grow at the facility.
Have the floodgates now finally opened in the UK allowing further progression in the laws and regulations surrounding cannabis cultivation and consumption? Let us know your thoughts in the comments.