Keenan Pascal, CEO of Token Naturals, poses for a photo with his company’s packaging, in the Mercer building in Edmonton, on Tuesday, Nov. 12, 2019, where Token’s office is located. The company is set to open an 8,000-square foot cannabis extraction plant in central Edmonton next year. Ian Kucerak / Postmedia
A cannabis extraction plant is slated to open in central Edmonton as edible products continue to work their way into the legal marketplace.
Edmonton-based Token Naturals recently announced it has secured a long-term lease on an 8,300-square-foot facility in a 60,000-square-foot industrial lot, with the hopes of constructing an operation with the ability to process up to 65,000 kilograms of dried flower into cannabis extract each year.
Keenan Pascal, CEO of Token Naturals, said securing the lease is a milestone for the company that focuses on working with local producers to create different extract products. The lease of the space off Yellowhead Trail will also help the company move forward with its Health Canada application to sell and process cannabis.
Edibles to hit the market in 2020
Edibles became legal in Canada this past October, a year after dried cannabis first hit the market. However, Albertans have been warned products won’t be readily available until the new year.
“Now we’ve got the ability to create the products that are really going to boom in the next round of the derivative market. So anything for oil that would go into a beverage or a baked good or vape pin or there’s capsules and the gummy space,” said Pascal.
Pascal expects the new extraction facility to be fully licensed in June 2020 to capitalize on the new market and eventually expand to 13,500 square feet.
Token Naturals has cleared the initial intake and screening stage with Health Canada. It has also been granted a major development permit and is in the process of obtaining a building permit from the City of Edmonton.
“We are committed to having value-added manufacturing in our city and as such take measures to streamline our processes and have our teams work effectively when reviewing applications,” said Juan Monterossa, director of safety codes, permits and inspections with the City of Edmonton.
‘At the forefront’
Token has tapped local architecture and construction companies, Next Architecture and Delnor respectively, to design and build the facility. Once it is fully operational, it’s expected to create 40 jobs.