MJardin’s Atlantic Canada Facility Reaches Full Production Capacity in 4 Months
18 4월 2019 - 9:00PM
MJardin Group, Inc. (“
MJardin” or “the
Company”) (CSE: MJAR) (OTCQX: MJARF), is pleased
to announce that its joint-venture AtlantiCann Medical Inc.
(“
AMI”) facility located in Lower Sackville, Nova
Scotia has now reached its full production capacity in an
impressive four months since receiving its cultivation and
processing license on December 7, 2018. AMI is a three-way
joint-venture consisting of Nova Scotia Mi’kmaq First Nations
(51%), MJardin Group, Inc. (39%) and the Halef Group (10%).
Phase 1 of the AMI complex is a 48,000 square
foot cultivation and extraction facility with a full production
capacity of 4,700 kg of flower and trim. In just four months since
the AMI team received its cultivation license, the facility has
propagated all flower rooms with a total of 6,000 plants, 3,600 of
which are currently in flower stage. Phase 2 of the AMI complex
will expand production to approximately 8,550 kg of flower and trim
by adding another 20,000 square feet of capacity.
“The impressive turnaround time to reach full
production capacity at AMI is a testament to the skilled experts we
have within our Company and our dedicated team in Lower Sackville,”
noted Christine Halef, SVP of Atlantic Canada Operations. “MJardin
is drawing from 10 years of hands on experience cultivating premium
cannabis with high yields in the United States.”
“We are very pleased with the progress that the
AMI team has already made in Nova Scotia and the speed at which our
facility is moving,” noted Chief Terrance Paul, Co-Chair of the
Assembly of Nova Scotia Mi’kmaq Chiefs. “We performed a high degree
of due diligence to find the right partners, and this latest
milestone is a reflection of our confidence in MJardin’s
experience, knowledge and capabilities.”
The AMI complex is currently working towards its
Good Manufacturing Practices (“GMP”) certification which would
allow for product export to international markets. Additionally,
extraction capabilities are expected to be implemented in Q4 of
2019 in time for the legalization of additional cannabis
products.
About MJardin Group
MJardin is a 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. MJardin is based in Denver, Colorado and Toronto, Canada.
For more information, please visit www.mjardin.com.
The 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.
Forward-Looking Information
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, our production capacity, our production results,
trading of MJardin’s shares on the OTCQX Best Market, the receipt
of any pending regulatory approvals or licenses, the future
performance and capacity of AMI, the growth of our 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 invest 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.
INVESTOR
CONTACT: |
Ali Mahdavi |
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Frank Knuettel II |
Capital Markets & Investor Relations |
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Chief Strategy Officer |
416-962-3300 |
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720-613-4019 |
Ali.mahdavi@MJardin.com |
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Frank.Knuettel@MJardin.com |
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