DENVER--(BUSINESS WIRE)--MJardin Group, Inc. (“MJardin” or the “Company”) (CSE:MJAR), a leader in cannabis management, is pleased to announce that the recently opened cultivation and extraction facility in Lower Sackville, Nova Scotia owned by AtlantiCann Medical Inc. (“AMI”), in which MJardin has a 50% equity interest, has been 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. AMI intends to seek GMP certification for the facility in 2019.
“Since federal legalization in October, the Canadian cannabis market has struggled to meet strong consumer demand due to supply shortages,” said Rishi Gautam, Chairman and Chief Executive Officer of MJardin Group. “We are very pleased to receive our cultivation license from Health Canada and will leverage our decade-long experience in cannabis cultivation to assist in bringing significant supply online to meet growing consumer demand for high quality medicinal and adult-use cannabis products.”
“Our newly granted cultivation license is an important milestone and a key operational development for AMI. We are proud of our growing footprint in Atlantic Canada with the support of MJardin. With the first harvest at our state-of-the-art facility expected to be complete in the spring of 2019, we are well positioned to provide innovative, premium cannabis products to help patients cope with their ailments,” said Christine Halef, President of AtlantiCann Medical Inc.
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.
About AtlantiCann Medical Inc.
AtlantiCann Medical Inc. (AMI) was founded in 2013 with an application submitted under the MMPR program with the primary objective of advancing the uses of medicinal cannabis. Since then the 48,000 square foot facility, located in Lower Sackville, NS has completed construction and received a cultivation license from Health Canada. MJardin, a company with extensive experience in producing cannabis, is a 50% equity owner in AMI. With their combined knowledge and experience in cultivation and pharmaceuticals, they will strive to provide excellence, reliability and innovation in this burgeoning sector.
The CSE has not in any way passed upon the merits of the matters contained in this press 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 or the Nova Scotia facility, 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.