PROVIDENCE, R.I.--(BUSINESS WIRE)--First paragraph, second sentence of release should read: ...18,000-square-foot facility... (instead of ...10,000-square-foot facility...).
The updated release reads:
OCEAN STATE CONTROLLED BOTANICALS LAUNCHES THE LARGEST, NEXT-GENERATION CANNABIS FACILITY IN RHODE ISLAND AND ITS HANGAR 420 PRODUCT LINE
Ocean State Controlled Botanicals (OSBC) has launched Hangar 420, its cannabis innovation, production, and distribution facility in Warwick, Rhode Island. The first of its kind in Rhode Island, Hangar 420’s state-of-the-art, 18,000-square-foot facility was designed with the flexibility to scale the facility and production capacity in line with growing demand.
The launch of Hangar 420 is a phased approach: Phase One focused on building the cultivation, distribution, and inventory storage area and packaging facility and Phase Two will center on manufacturing and edibles. The new facility provides Hangar 420 the ability to deliver:
- Premium and rare exotic cannabis strains grown onsite, including Do Si Sherbert and Crescendo
- A highly experienced team of growers and operators working at the facility in Rhode Island
- Peripheral development and broad job opportunities in Warwick, RI
- Top tier engineering and technologies powering the facility
- The highest-level of quality genetics in the cannabis industry
“We are extremely proud of what we have developed at Hangar 420, with a next-generation facility bolstered by an extraordinary team in the heart of Rhode Island,” said Octavius Prince, CEO and founder of Hangar 420. “This presents a unique opportunity for us to participate in the explosive growth of the multi-billion-dollar cannabis market and we are well positioned and capitalized as an innovation leader in helping to define this industry.”
“As Rhode Island lawmakers are expected to introduce a marijuana legalization bill this month, our scalability as a facility will be a tremendous benefit to the Ocean State as new licenses come out to accommodate recreational use,” added Joe Dilley, Director of Post Production at Hangar 420.
According to BDSA, the leading provider of market research solutions for the global cannabinoid industry, cannabis sales topped $17 Billion in the last year alone, representing a 46% growth in the market year-over-year. By 2026, BDSA predicts the legal U.S. cannabis market will reach $41 billion in annual sales, roughly the size of the craft beer industry.
About Hangar 420
Based in Warwick, Rhode Island, Hangar 420 is a leading next-generation cannabis producer and distributor. Bolstered by an award-winning team, Hangar 420 aims to provide premium cannabis products. For more information, visit Hangar420.com.