VICTORIA, BC, April 10, 2015 /CNW/ - T-Bird Pharma Inc.
(TSXV:TPI) ("T-Bird" or the "Company"), a
pharmaceutical company focused on developing premium quality
medical marijuana products and a licensed producer ("LP") to
cultivate marijuana under the Marihuana for Medical Purposes
Regulations (Canada) ("MMPR"), is
pleased to announce that it has submitted an application to Health
Canada for a second medical marijuana production facility in
Victoria, BC.
The leased facility has 28,966 square feet of floor space with
the option to add approximately 14,500 square feet of mezzanine
space for a total of approximately 43,500 square feet and when
fully built out will have an annual production capacity in excess
of 2,000 kilograms. Building permits for the leasehold
upgrades required to the facility have been obtained from the
City of Victoria and the current
municipal zoning allows for a medical marijuana production
facility.
"As a part of our growth strategy we are excited to be moving
forward with our second facility and utilizing the valuable
knowledge and experience gathered from bringing our existing
licensed facility online. Our team has developed scalable and
more importantly Health Canada compliant Security, Quality
Assurance and IT systems that will be implemented at the second
facility," said Dr.Bin Huang, CEO of T-Bird.
About T-Bird and Thunderbird
T-Bird Pharma Inc. is the parent company of Thunderbird
Biomedical Inc., a wholly owned private subsidiary formed in
January, 2013. The principal activities of Thunderbird are
the production of marijuana from its Victoria, British Columbia production
facility, as regulated by the Marihuana for Medical Purposes
Regulations (Canada).
Thunderbird obtained a medical marijuana license to undertake the
production of medical marijuana in February
2014, being the fifth company in Canada to obtain such a license.
Thunderbird was acquired by T-Bird in September, 2013.
ON BEHALF OF THE BOARD
"David J. Raffa"
Chairman
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Statements Regarding Forward Looking Information
Certain statements in this press release constitute
forward-looking statements, within the meaning of applicable
securities laws. All statements that are not historical
facts, including without limitation, statements regarding future
estimates, plans, programs, forecasts, projections, objectives,
assumptions, expectations or beliefs of future performance, are
"forward-looking statements".
We caution you that such "forward-looking statements" involve
known and unknown risks and uncertainties that could cause actual
and future events to differ materially from those anticipated in
such statements.
Forward-looking statements include, but are not limited to,
statements with respect to commercial operations, including
production and sales of medical marijuana, anticipated revenues,
projected size of market, quantities of future medical marijuana
production, completion of production facilities and other
information that is based on forecasts of future results, estimates
of amounts not yet determinable and assumptions of management.
T-Bird Pharma Inc. (the "Company") does not intend, and does not
assume any obligation, to update these forward-looking statements
except as required by law. These forward-looking statements involve
risks and uncertainties relating to, among other things, results of
production and sale activities, the Company's historical experience
with medical marijuana operations, uninsured risks, regulatory
changes, availability of production facilities, timeliness of
government approvals and the granting of permits and licenses,
changes in prices, actual operating and financial performance of
facilities, equipment and processes relative to specifications and
expectations. Actual results may differ materially from those
expressed or implied by such forward-looking statements.
SOURCE T-Bird Pharma Inc.