The most Canadian-sounding company ever closes financing to complete build-out of huge hemp processing facility

Growth op

Canadian Rockies Hemp Corporation (CRHC) has plans to make the small town of Bruderheim, Alta. into a very big thing when it comes to industrial hemp processing. With a population of 1,308 in 2016 — having soared to that level from 1,155 just five years earlier — Bruderheim is the home of CRHC, an agribusiness focused on processing hemp at scale for industrial use outputs. This week, the company announced it had closed $18 million in equity and debt financing led by private equity firm Merida Capital Holdings, which targets the development of the cannabis and hemp industries. Here’s five reasons to use a hemp-based face mask Nike gives classic sneaker a hemp makeover What went wrong with hemp? And is there anything to learn from all the mistakes that were made? CRHC plans to use the cash injection to complete construction of its Bruderheim biorefinery, notes the company , which reports being capable of processing thousands of acres of hemp for fibre, hurd, dust and CBD products. The thought is the resulting facility could be the biggest in North America, the company reports. Expected to be up and running by summer, company officials estimate the 60,000 sq. ft. processing facility will be able to process as much as 50,000 tons of fibre and 110,000 tons of hurd (woody interior material) annually. The Bruderheim facility, with a staff of 60 or more, is just the first of several more planned across Western Canada, according to CRHC. The company already provides processed hemp to manufacturing facilities globally for product outputs that include textiles, pulp and paper, animal bedding, rope and twine, building and insulation materials, composites and automobile components, the statement notes. With customers spanning Canada, the U.S., Italy, Australia, New Zealand and China, the location will fit well with current…

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Source : The most Canadian-sounding company ever closes financing to complete build-out of huge hemp processing facility

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