By Dan Walton
The looming legalization of marijuana is causing the entrepreneurial spirit to bud up in the South Okanagan.
Joseph “Banjo” Linkevic, president of Osoyoos Cannabis Inc., said the idea is still in the early phases.
“I’m in the middle of raising funds to get production in place,” he said. We’re still coming up with the drawings and engineering designs. Things are relatively quiet right now, we’re not out there beating the bush.”
A $262,500 investment is being made by a cannabis-related investment firm out of Toronto called Quinsam Capital Corp. A 2.6-acre property near Oliver belonging to the Osoyoos Indian Band will be leased for the commercial production of marijuana. Osoyoos Cannabis will have the option to expand that area in the future.
“We look forward to working with Osoyoos and Mr. Linkevic to help bring this project to fruition,” said Quinsam CEO Roger Dent.
Quinsam expects Osoyoos Cannabis to seek a stock exchange listing within months.
“While Osoyoos is not as advanced as some other ACMPR applicants, the valuation at which our investment has been made is reflective of that fact,” Dent said. “We think that the Osoyoos team together with the relationship with the OIB and the advantages inherent in being an aboriginal applicant will allow Osoyoos to be successful.”
