Buying weed Grand-Bassam

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Buying weed Grand-Bassam

A troubled cannabis company founded by Kuwaiti billionaire Bassam Alghanim has sold its assets in the small West Boundary community of Midway. BZAM Ltd. Primarily, this involved the installation of a five kilometre long, three-metre high, ring-lock security fence surrounding a 0. In , BZAM bought the historic, but at that time vacant, Hotel Midway — the scene of a wild-west shootout in the summer of that left hotelier Charles Thomet dead. The purchases were among a string of Canada-wide cannabis deals struck by BZAM, whose chairman and largest shareholder is Alghanim. Alghanim, the Los Angeles consul for the Caribbean island nation of St. The University of California, Berkeley, graduate ran the family business for a while, but now lives in L. Start your day with a roundup of B. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. We encountered an issue signing you up. Please try again. It was sold last July to Abbotsford businesswoman Carissa Boynton, who is now using its six upstairs rooms for short-term rental accommodation. Boynton said the hotel was in good condition when she bought it, and she is hoping to attract a partner to operate the kitchen and bar. Guests are able to use the bar area, likely not knowing that Thomet — a former B. Provincial Police officer — was killed there by two masked men who fled by horse over the nearby border and were never located. According to BZAM, competition and fragmentation of the Canadian cannabis industry as well as financial underperformance and pressures from taxes owing had forced the company to restructure its business. As of June 26, shares were trading at 3. At their peak on Jan. As of June 26, a CLC share was worth three and a half cents. Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. This website uses cookies to personalize your content including ads , and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. You can manage your saved articles in your account and clicking the X located at the bottom right of the article. Search vancouversun. Advertisement 1. This advertisement has not loaded yet, but your article continues below. Share this Story : Kuwaiti billionaire's exit from small B. Advertisement 2. View more offers. Recommended from Editorial. Kuwaiti billionaire is the new big player in B. How the federal government has milked the cannabis business almost to death. Eight great and relatively affordable places to retire in B. There was an error, please provide a valid email address. Thanks for signing up! Advertisement 3. Advertisement 4. You must be logged in to join the discussion or read more comments. Create an Account Sign in. Join the Conversation. Fight breaks out in B. Election: How the vote recount will work. Coquitlam mudslide victim identified as Port Moody teacher. Latest National Stories. Featured Local Savings. Notice for the Postmedia Network. You've reached the 20 article limit. You can manage saved articles in your account. Looks like you've reached your saved article limit!

Kuwaiti billionaire's exit from small B.C. town leaves pot farm and hotel in local hands

Buying weed Grand-Bassam

By spring, five kilometres of three-metre-high ring-lock fence were installed around a acre upper lot — with three strands of barbed wire atop and a security camera every 30 metres. After some heavy July rain and two days of beating sun, you can smell the wild grasses and flowers in this semi-arid zone in West Boundary country between Osoyoos and Grand Forks. Within and around the southeast corner of the security fencing are nine trailers, including one marked security, two that are air-conditioned and could serve as accommodation, and one temporary toilet. None of the past four proprietors of the six-room hotel and pub which has sat empty for two years had been able to make a go of it, perhaps cursed by the ghost of Charles Thomet. The one-time owner was gunned down in his bar in the summer of by two masked men who fled by horse across the nearby U. When asked by Postmedia News if he knew who was financing the operation, Fomme said he had no idea, and was surprised to learn the farm and hotel purchase are part of a string of cannabis deals struck by a Vancouver-based company over the past 18 months with money from a Kuwaiti billionaire. According to the B. Alghanim, the Los Angeles consul for the Caribbean island nation of St. The University of California, Berkeley, graduate ran the family business for a while, but is now firmly ensconced in L. He is listed as director with the Kuwaiti address of three British Columbia-registered companies whose names all start with Bzam. Start your day with a roundup of B. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. We encountered an issue signing you up. Please try again. Milich, who is based in L. Milich is also director of nearby real estate financing company Brase Capital Management. In February , Bzam Holdings bought a controlling interest in Folium Life Sciences, which had a cultivation licence for an indoor cannabis growing facility in Saanichton, B. The following month, Bzam Management Inc was registered in B. Speakeasy has an established B. The company has Health Canada licences to cultivate, process and sell. The licences have since been restored in the name of Bzam and the company is applying for a licence for the greenhouse. Ascent stayed afloat and is now listed as Luff Enterprises, operating licensed cannabis facilities in Oregon and Nevada. Winnett would not reveal the reasons Alghanim decided to invest in the Canadian cannabis market, saying the billionaire preferred to stay out of the story. The farm is expected to employ 25 full-time workers, plus 25 seasonal workers — all hired locally. Choice buds will be kept aside to sell as smokable material. According to Bloomberg News, cannabis stocks have lost about a quarter of their value in the first half of , compounding a per-cent drop in Anand said Bzam likely has deep pockets, but as a private company its financial information is not publicly available. Nearly half of Canadians report having used cannabis at some time in their lives. Licensed recreational cannabis growing, processing and retailing has been legal in Canada since October I am still very optimistic about the industry. Fromme expects a slow growth in population, mostly fuelled by retirees moving to a community that has an RCMP detachment, two medical clinics, an ice rink, a dentist, two gas stations, two restaurants and a well-maintained museum on Highway 3, across from the town. He said the company would also discuss helping maintain the dirt road that runs from the hotel to the farm and is a village responsibility. Winnet said the company hired a local resident to supervise the Midway farm project and that a dozen local companies and 25 workers have been employed on the project so far. He said that he expected Bzam would make smaller purchases at local stores. Is there more to this story? Email vantips postmedia. Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. This website uses cookies to personalize your content including ads , and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. You can manage your saved articles in your account and clicking the X located at the bottom right of the article. Search vancouversun. Advertisement 1. This advertisement has not loaded yet, but your article continues below. Share this Story : Kuwaiti billionaire is the new big player in B. Advertisement 2. View more offers. Advertisement 3. There was an error, please provide a valid email address. Thanks for signing up! Advertisement 4. Advertisement 5. Advertisement 6. Advertisement 7. Advertisement 8. Advertisement 9. Advertisement You must be logged in to join the discussion or read more comments. Create an Account Sign in. Join the Conversation. Fight breaks out in B. Election: How the vote recount will work. Coquitlam mudslide victim identified as Port Moody teacher. Election Results A riding-by-riding map of the vote. Latest National Stories. Featured Local Savings. Notice for the Postmedia Network. You've reached the 20 article limit. 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Buying weed Grand-Bassam