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Canadian firm Cannabis Rx purchases 9-acre property in Florida for $1.2M

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(Credit: Reuters) An attendee holds marijuana buds at the International Cannabis & Hemp Expo in Oakland, California.Medical Marijuana
April 21
6:51 AM 2014

Cannabis Rx, a publicly traded company, has reportedly acquired three industrial structures near the Sarasota-Bradenton International Airport. The firm shelled out a total of $1.2 million for the property that spans 9.26 acres, according to WTSP.

The purchase comes ahead of a medical marijuana vote to be help in Florida in November. During the event, citizens will cast their votes on the approval of a constitutional amendment in favor of the legalization of marijuana. The amendment specifically focuses on the medical use of marijuana with a doctor's prescription, the report explained.

According to the chief executive of Cannabis Rx, the newly acquired property would be turned into a licenses grow facility. It would also be ideal for a distribution center for medical marijuana, the report detailed.

The upcoming amendment needs to garner a 60% vote in order for it to be implemented. Based on recent polls among registered voters, the change has a good chance of reaching the 60% requirement, WTSP reported.

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