Cannabis Co-op in Kootenays offers to buy grow site
Cannabis plants could be replacing flowers and trees in the greenhouses of Georama Growers near Nelson, B.C., by next year.
Kootenay Outdoor Producer Co-op hopes to sell local cannabis once it is legalized this summer. It has made a conditional offer to purchase the 20.5-acre property.
Todd Veri, the co-op’s president, said the co-op is in the process of raising $1.5 million, and already has 110 of the 150 public investors it needs.
Veri, a Kaslo farmer, helped launch the co-op in the summer of 2017.
If the deal is completed, Veri said plants would go into the ground next spring. He said the move would guarantee the Kootenays don’t lose out to private companies post-legalization.
“What has made the Kootenays what they are is the peaceful side of illegal weed,” he said. “If we don’t get our hands into the peaceful side of legal weed, all of us get left behind.”
Looks like Vancouver’s Rio Theatre is saved
Another exciting news item is that Rio Theatre owner Corinne Lea says that the imperilled East Vancouver venue has been approved for a mortgage, likely saving it from a dreaded reno-viction.
Faced with the possibility of being squeezed out of the space after its owners listed the property for sale, The Rio’s operators mounted an impressive campaign to save the landmark theatre in east Vancouver.
After making what Lea called a creative offer to buy the building, which was accepted, The Rio crowdfunded more than $500,000 thanks in large part to celebrity endorsements from the likes of Ryan Reynolds and Kevin Smith.
Lea and a group of investors applied for a mortgage through Vancity Credit Union, then waited nervously for approval—which came through.
But more money is needed.
The next step, Lea explained, is another crowdfunding campaign, this time through equity crowdfunding platform Frontfunder.
Credit Union offers Green Home Mortgage
Your Credit Union, a financial co-operative operating in Ontario, and energy provider Bullfrog Power are launching the first ever green mortgage program in Eastern Canada.
Homeowners who sign up for a Green Home Mortgage with Your Credit Union will receive one year of renewable electricity for their homes from Bullfrog Power, courtesy of Your Credit Union.
No special wiring or equipment is needed to participate in the program. Bullfrog Power ensures renewable electricity is put into the grid to match the amount of conventional electricity used by homeowners.
Bullfrog’s green electricity comes from a blend of wind and low-impact hydro power sourced from new Canadian renewable energy facilities.