Sales License to Accelerate Cannabis Sales and Deliver Supply to Canadian Market
DENVER, – MJardin Group, Inc. (“MJardin” or the “Company”) (CSE:MJAR), a leader in cannabis management, today announced that its WILL cultivation facility in Brampton, Ontario has received its first license to sell cannabis under the Cannabis Act (Canada), which went into effect on October 17, 2018.
The license allows MJardin to supply and sell finished cannabis products to provincial governments throughout Canada and through Canada’s distribution and retail supply chain. The 32,800 square foot facility has a current production capacity of 3,000 kg per year and MJardin has plans to expand WILL’s existing facility and increase total production capacity to over 5,000 kg per year.
“Our first sales license in Canada is a key development for MJardin and a testament to the experience of our team and our ability to efficiently execute our business strategy in the markets we enter,” said Rishi Gautam, Chairman and Chief Executive Officer of MJardin. “The Canadian cannabis market is facing severe supply shortages due to strong consumer demand throughout the country. This license will accelerate MJardin’s sales in Canada and allow us to deliver significant supply to the market to meet growing demand for high quality medicinal and adult-use cannabis products.”
Earlier this month, MJardin announced that its cultivation and extraction facility in Lower Sackville, Nova Scotia owned by AtlantiCann Medical Inc., in which MJardin has a 50% equity interest, was granted a license by Health Canada for cannabis cultivation. The new state-of-the-art, 48,000 square foot cultivation and extraction facility has a production capacity of 6,000 kg per year, with expansion planned for an additional 20,000 square feet by the end of 2019.
About MJardin Group
MJardin is a global cannabis management platform with extensive experience in cultivation, processing, distribution and retail. For over 10 years, MJardin has refined cultivation methodologies, developed state of the art facilities and implemented vertical integration for and on behalf of license owners. As a well-capitalized organization, MJardin continues to pursue strategic expansion and M&A opportunities across global legal cannabis markets. MJardin is based in Denver, Colorado, with offices in Toronto, Canada and Barcelona, Spain. For more information, please visit www.mjardin.com.
Capital Markets & Investor Relations
Frank Knuettel II, 720-613-4019
Chief Strategy Officer
hTe CSE has not in any way passed upon the merits of and has neither approved nor disapproved the contents of this news release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
This news release contains forward-looking information based on current expectations. Statements about, among other things, future developments and the business and operations of MJardin, the cannabis sales license discussed in this press release, the growth of or global footprint and our intentions to leverage our scale for continued organic growth and to pursue strategic investments are all forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such factors include, but are not limited to: our ability to identify and pursue growth, financing and other strategic objectives, and the regulatory and economic environments in the jurisdictions we operate or intend to operate or investment in. Although such statements are based on management’s reasonable assumptions at the date such statements are made, there can be no assurance that the proposed acquisition will occur and that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on the forward-looking information. MJardin assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.