C3 Industries Expands Missouri Cannabis Cultivation Facility with 50,000 Square Foot Addition

Rhea-AI Summary

C3 Industries has expanded its cannabis cultivation facility in O'Fallon, Missouri, through a partnership with NewLake Capital Partners (OCTQX: NLCP). The 50,000 square foot addition includes 20,000 square feet of additional flowering canopy space across six rooms, featuring advanced automation and environmental control systems. The expansion aims to increase production capacity and efficiency, with the ability to shorten the plant life cycle from 20 weeks to 12 weeks.

Key features of the expanded facility include a state-of-the-art Argus Titan controller system, reverse osmosis water filtration, and capacity for over 2,000 plants per flowering room. The facility received operational approval on July 17, 2024, with full capacity expected by mid-October 2024. This expansion is set to enhance C3's ability to supply high-quality cannabis products to the Missouri market and support its retail network.

Positive

• Expansion of cultivation facility by 50,000 square feet, including 20,000 square feet of additional flowering canopy
• Implementation of advanced technology and automation systems to increase efficiency and production capacity
• Reduction of plant life cycle from 20 weeks to 12 weeks, significantly improving production efficiency
• Capacity for over 2,000 plants per flowering room
• Operational approval received, with full capacity expected by mid-October 2024

Negative

• None.

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C3's expansion in O'Fallon set to boost annual production capacity with 20,000 additional square feet of flowering canopy

ANN ARBOR, Mich., Sept. 26, 2024 /PRNewswire/ -- C3 Industries ("C3" or "the Company"), a leading multi-state cannabis company dedicated to crafting premium cannabis experiences for consumers, announced the expansion of its cultivation facility in O'Fallon, Missouri, through an ongoing partnership with NewLake Capital Partners (OCTQX: NLCP). The 50,000 square foot addition features cutting-edge automation and environmental control systems, significantly increasing the Company's production capacity in the state.

"This expansion is a major milestone for C3 Industries in Missouri and our partnership with NewLake has been instrumental in making the project possible," said Vishal Rungta, president and cofounder of C3 Industries. "By implementing advanced technology and efficient growing techniques, we're able to increase our output while maintaining the premium quality our customers expect. This facility will play a crucial role in supporting our retail network and introducing new brands to the Missouri market. NewLake's continued support positions C3 for long-term growth and success in Missouri's competitive cannabis market."

The expanded facility includes:

• 20,000 square feet of additional flowering canopy space across six rooms
• State-of-the-art Argus Titan controller system for automated irrigation, climate control, and lighting specifications
• Reverse osmosis water filtration system for precise nutrient control
• Capacity for over 2,000 plants per flowering room

"Our new facility is unlike any of our previous operations," said Andrew Bodkin, VP of Production at C3 Industries. "We've implemented a crop steering methodology that allows us to shorten the plant life cycle from 20 weeks to just 12 weeks, significantly increasing our efficiency. The automated systems also enable us to manage a larger plant canopy more efficiently, optimizing our labor resources and setting us up to supply Missouri with some of the best flower in the country."

"This project further strengthens our partnership with C3, a company that has consistently demonstrated its ability to execute efficiently in competitive markets," said Anthony Coniglio, NewLake Capital Partners president and chief executive officer. "The implementation of cutting-edge technology and automation in this facility aligns perfectly with our investment strategy of backing properties that drive strong operational performance. We're confident that this expanded facility will play a crucial role in meeting the growing demand for high-quality cannabis products in Missouri and contribute significantly to C3's continued success in the market."

The facility received its commencement of operations approval on July 17, 2024, with full operational capacity anticipated by mid-October 2024. For more information on C3 Industries visit c3industries.com.

About C3 Industries
C3 Industries is a multi-state, vertically integrated cannabis company headquartered in Ann Arbor, Michigan, with multiple product brands including the award-winning Cloud Cover Cannabis and Galactic Cannabis, and a retail network, High Profile Cannabis Shop. The Company, through its subsidiaries, retails high-quality cannabis products at its High Profile locations in Michigan, Missouri, Massachusetts, Illinois, New Jersey, and Connecticut. Additional High Profile retail locations are scheduled to open throughout 2024 in Missouri, Illinois, New Jersey and Connecticut. C3 currently operates 275,000 sq. ft. of total cultivation and processing facilities, with ~125,000 sq. ft in Michigan, ~40,000 sq. ft. in Massachusetts, and ~110,000 sq. ft. in Missouri. The company also has a ~60,000 sq. ft. Connecticut facility in development.

For more information about C3, visit www.c3industries.com. Additional information about High Profile Cannabis Shop can be found by signing up for the company's newsletters at www.highprofilecannabis.com and on Instagram at @highprofileofficial. Additional information on Cloud Cover Cannabis can be found at www.cloudcovercannabis.com and @cloudcovercannabis on Instagram. Additional information on Galactic Cannabis can be found at www.galacticcannabis.com and @galactic.cannabis on Instagram.

Media Contact:
Ellen Mellody
(570) 209-2947
emellody@kcsa.com

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SOURCE C3 Industries

FAQ

What is the size of C3 Industries' expansion in Missouri?

C3 Industries has expanded its cultivation facility in O'Fallon, Missouri by 50,000 square feet, which includes 20,000 square feet of additional flowering canopy space across six rooms.

How does the expansion affect C3 Industries' production capacity in Missouri?

The expansion significantly increases C3 Industries' production capacity in Missouri by adding 20,000 square feet of flowering canopy and implementing advanced technology that shortens the plant life cycle from 20 weeks to 12 weeks.

When will C3 Industries' expanded Missouri facility be fully operational?

The expanded facility received operational approval on July 17, 2024, and is expected to reach full operational capacity by mid-October 2024.

How is NewLake Capital Partners (NLCP) involved in C3 Industries' Missouri expansion?

NewLake Capital Partners (OCTQX: NLCP) is partnering with C3 Industries to support the expansion of the cultivation facility in O'Fallon, Missouri, aligning with NewLake's investment strategy of backing properties that drive strong operational performance.