One man has been arrested after police executed a search warrant at a residence in London.

Members of London police and RCMP executed the warrant on Thursday at a residence on Wilkins Street. Police say they seized 81 lbs of marijuana bud, 1.8 lbs of psilocybin and Canadian currency.

Police say the goods seized are worth over $380,000.

As a result of the investigation, police have charged 44-year-old Andrew Paxton from London with two counts of possession of a controlled substance for the purpose of trafficking.