James E. Wagner Cultivation Corporation and Fluence Enter Into Agreement to Evaluate Impact of LED Lighting
30 October 2019 - 10:00PM
James E. Wagner Cultivation Corporation (“
JWC” or
the “
Corporation”) (TSX VENTURE: JWCA; OTCQX:
JWCAF), is pleased to announce that its wholly-owned subsidiary,
James E. Wagner Cultivation Ltd., has entered into a mutually
collaborative product trial and evaluation agreement (the
“
Agreement”) with Fluence Bioengineering, Inc.
(“
Fluence”) to test and provide feedback regarding
the performance, functionality and suitability of Fluence’s VYPR 2p
Broad Spectrum LED lighting solution. Analysis will be conducted
under the Agreement for a term of eight months to assess whether
JWC can further improve its high level of energy efficiency by
using lighting equipment provided by Fluence to help optimize
cultivation performance at its flagship JWC2 facility located at
530 Manitou Drive, Kitchener, Ontario.
Throughout the term of the Agreement, Fluence will visit JWC to
provide assistance with data collection, training on best practices
for cultivating with LED lighting solutions and recommendations for
climatic parameters to promote optimal plant growth. In turn, JWC
will provide data analysis to Fluence with respect to cultivation
performance in the flowering rooms utilizing Fluence’s lighting
solutions.
“As a cultivator focused on optimizing plant metrics and yields,
we are always looking at ways to enhance cultivation performance,”
said Nathan Woodworth, President and CEO of JWC. “We expect
Fluence’s LED solutions to provide a material cost and performance
benefit for JWC. If the endpoint is met, it will reduce production
costs and help augment yield per plant, which is already among the
highest in the industry. We look forward to analyzing the results
once the grow cycle data becomes available.”
If the project is successfully completed in accordance with the
criteria set out in the Agreement, JWC intends to extend the
relationship with Fluence by purchasing certain equipment from
Fluence.
“At Fluence, we are dedicated to providing cultivators with the
most innovative and efficient technology for growing high-quality
cannabis,” said David Cohen, CEO of Fluence. “Our collaboration
with JWC reinforces our commitment to exploring the interaction
between light and life with industry-leading research and best
practices for building advanced cultivation facilities.”
Criteria to be analyzed include a defined cost benefit relative
to each growing cycle and enhanced cultivation performance as
defined in the Agreement.
About Fluence by OSRAM
Fluence Bioengineering, Inc., a wholly-owned subsidiary of
OSRAM, creates the most powerful and energy-efficient LED lighting
solutions for commercial crop production and research applications.
Fluence is a leading LED lighting supplier in the global cannabis
market and is committed to enabling more efficient crop production
with the world’s top vertical farms and greenhouse produce growers.
Fluence global headquarters are based in Austin, Texas, with its
EMEA headquarters in Munich, Germany. For more information about
Fluence, visit https://fluence.science.
About James E. Wagner Cultivation
Corporation
JWC’s wholly-owned subsidiary is a Licensed Producer under the
Cannabis Regulations, formerly the Access to Cannabis for Medical
Purposes Regulations (“ACMPR”). JWC is a premium
cannabis brand, focusing on producing clean, consistent cannabis.
JWC uses an advanced and proprietary Dual Droplet™ aeroponic
platform named GrowthSTORM™. JWC was founded as a family company
and is based on family values. JWC began as a collective of
patients and growers under the Marihuana Medical Access Regulations
(the precursor to ACMPR). Since its inception, JWC has remained
focused on providing the best possible patient experience. JWC’s
operations are based in Kitchener, Ontario. Learn more at
www.jwc.ca.
For additional information about JWC,
please refer to JWC’s profile on SEDAR (www.sedar.com) or the
Corporation’s website (www.jwc.ca).
Notice regarding forward-looking
statements:
This press release contains statements including forward-looking
information for purposes of applicable securities laws
(“forward-looking statements”) about JWC and its
business and operations which include, among other things,
statements regarding its current and future grow operations, the
tracking of data, possible improvements to the energy efficiency
and cultivation performance of JWC, anticipated cost savings and
increased yield of JWC and the intention of JWC to purchase
equipment from Fluence. The forward-looking statements can be
identified by the use of such words as “will”, “expected”,
“approximately”, “may”, “could”, “would” or similar words and
phrases. Forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual
results to differ materially from those implied in the
forward-looking statements. For example, risks include risks
regarding the cannabis industry, economic factors, the equity
markets generally, building permit related risks and risks
associated with growth and competition as well as the risks
identified in the Corporation’s Filing Statement available under
the Corporation’s profile at www.sedar.com. Although JWC has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results to differ from those
anticipated, estimated or intended. Readers are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release and are based on
current assumptions which management believes to be reasonable. The
Corporation disclaims any intention or obligation, except to the
extent required by law, to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
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.
For more information about this release, please contact:
Nathan Woodworth, President & CEO of JWC Email:
nathan@jwc.ca Phone: (519) 594-0144 x421
OR
Investor Relations Jonathan Leuchs, CMA
Email: jwca@cma.team Phone: (949) 432-7566
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