The Terra Life Sciences medicinal marijuana facility has completed Phase 1 of its expansion. It held a ribbon cutting May 30 to celebrate that and imminent construction of Phase 2.
Previously known as Olds Soft Gels, Terra Life Sciences, located in in the southeast industrial park near the cemetery, is a pharmaceutical company that produces pharma-grade medical soft gels.
The expansion facility will employ 10 to 12 people full-time this year and the upcoming Phase 2 facilities, coming in the latter part of next year, will employ up to 100 people
Phase 2 is said to be five times bigger than the Phase 1 facility, which is 51,000 square feet.
Work on the 230,000 square foot Phase 2 facility is set to begin in the coming weeks and will take around 15 months to complete. It will be built next to the company's existing plant and its Phase 1 cultivation facility. They hope to begin growing late next year.
Combined, the two buildings are expected to produce 35,000 kilograms of product per year.
Terra Life Sciences owns 60 hectares of surrounding land for future expansions.
Prior to the ribbon cutting, Dr. Anil Jain, president and CEO of Terra Life Sciences, thanked the Town of Olds for being a cooperative partner through the process of developing the facility.
“The Town of Olds has been an important partner as we’ve evolved and grown over the years,” Jain said. “We look forward to being an even bigger contributor to the town.”
Jain spoke about how great the experience has been working with council, compared to other towns.
“I can tell you Town of Olds council staff are the most knowledgeable people when it comes to cannabis cultivation.
“There’s no fear. Decisions aren’t based on fear, they are based on knowledge and I really appreciate it,” said Jain.
Joining Jain for the ribbon cutting was Olds Mayor Michael Muzychka and Terra Life Sciences general manager Jerry Bechtold.
Muzychka expressed excitement over the opening of the new cultivation facility.
“What a very exciting time we’re living in Olds right now," he said. “Our not so little town is on the cusp of becoming a major player in the medical cannabis industry, thanks in no small part to Terra Life Sciences.”
