MJardin Receives Cultivation and Processing License at Second Ontario Facility
20 February 2020 - 12:00AM
MJardin Group, Inc. (“MJardin” or “the Company”) (CSE: MJAR)
(OTCQX: MJARF), a leader in premium cannabis production, announced
today that one of its indoor cannabis cultivation facilities “GRO”,
located in Dunnville, Ontario has received its cultivation
and processing license from Health Canada. The facility is a joint
venture between MJardin Group (75%) and Grand River Organics (25%).
The 11,000 square foot facility is estimated to
produce 1,200 kg of premium flower and 396 kg of trim for a total
of 1,596 kg of product per year and is expected to reach full
production capacity in Q3 2020. “GRO” houses five compartmentalized
flower rooms of equal size. The facility is equipped with optimal
HVAC and fertigation systems that will ensure workflow efficiency
and consistency in cultivation of product.
“We are pleased to have reached this important
milestone and are eager to begin cultivating at this facility,”
said Pat Witcher, CEO of MJardin Group. “Our Canadian footprint
continues to successfully come online via cultivation and sales of
our high THC premium product and we look forward to reaching even
more of the market in 2020 with our strategic partners. This is a
very exciting time for our group.”
The Company has been awarded four cultivation
licenses and two sales licenses in the Canadian portfolio and
eagerly anticipates the completion of construction and full
roll-out of our Canadian assets.
About MJardin Group
MJardin Group’s mission is to set the standard for
successful ownership and management of assets in the cannabis
industry. Our Colorado founders spent a decade refining cultivation
methodology, collecting and implementing data driven standards and
designing state of the art facilities. Today, MJardin owns or
manages multiple operations in two US states and three Canadian
provinces, supplying the market with premium products. We are
committed to our Canadian First Nation joint ventures and all our
partnerships across the cannabis supply chain. MJardin is publicly
listed on the CSE (MJAR) and the QXOTC (MJARF) with offices in
Denver, Colorado and Toronto, Ontario. 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 InformationThis 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 closing of the Transaction, the receipt of any pending
regulatory approvals or licenses, 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 |
Pat Witcher |
Capital
Markets & Investor Relations |
Chief
Executive Officer |
416-962-3300 |
720-613-4019 |
Ali.mahdavi@MJardin.com |
Pat.Witcher@Mjardin.com |
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