VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 20, 2017) –Cannabis Wheaton’s partner, Curative Cannabis, has applied to become a licensed producer pursuant to the Access to Cannabis for Medical Purposes Regulations (“ACMPR“) with its proposed facility in Chatham-Kent, Ontario (the “Facility“).
Curative’s Facility will be purpose-built for cannabis cultivation and has been designed by Cascadia AC, which is one of the leading design and build firms in the Canadian cannabis industry.
The Facility is anticipated to have an initial footprint of 21,000 sq. ft. However, Curative owns an option to purchase the neighboring 33.09 acres of land which would expand its Facility up to 800,000 sq. ft., subject to market demand and regulatory approval.
Apart from the strength of the Facility and the ease with which it can be expanded, Curative also enjoys other competitive advantages.
Curative has developed a strong relationship with the municipality of Chatman-Kent and has assisted the municipality in developing site-specific policies regarding cannabis production and related zoning matters.
Curative’s principals have long standing relationships and significant experience in the regulated cannabis industry and they have worked in collaboration with many licensed producers in optimizing cultivation techniques and improving patient outreach.
Curative has an extensive library of cannabis genetics, all of which were transferred to several licensed producers during the transition phase of the Marihuana for Medical Purposes Regulations. These are highly sought after cannabis genetics which have been standardized and validated within the regulated environment of the ACMPR.
Chuck Rifici, Chairman and CEO of Cannabis Wheaton noted, “We are very excited to work with the talented team from Curative Cannabis. Curative brings valuable expertise to our platform that we believe will ultimately benefit Cannabis Wheaton and all of our streaming partners”.
Ian Rapsey, Chief Creative Officer of Cannabis Wheaton commented, “I am looking forward to collaborating with industry pioneers such as Curative’s management team. They have successfully created brands and patient outreach programs and we want to help them leverage that experience to build Curative into a top-tier licensed producer with incredible brand awareness and value for the industry”.
ON BEHALF OF THE BOARD
Chuck Rifici, Chairman & CEO
About Cannabis Wheaton Income Corp. (TSX VENTURE:CBW)
Backed by a team of industry experts, Cannabis Wheaton is the first cannabis streaming company in the world. Our streams will include production from across Canada coming from our partners comprised of licensed producers of cannabis (LP) and LP applicants. Cannabis Wheaton’s mandate is to facilitate real growth for our streaming partners by providing them with financial support and sharing our collective industry experience.
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities law. Forward-looking information is frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or information that certain events or conditions “may” or “will” occur. This information is only a prediction. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking information throughout this news release. Forward-looking information includes, but is not limited to: entering into definitive streaming agreements, the ability to generate revenue through the streaming agreements, the ability to consummate transactions which are currently in discussions, requirements to obtain additional financing, timeliness of government approvals for granting of permits and licences, including licences to cultivate cannabis, completion of the facilities, where applicable, actual operating performance of the facilities, regulatory or political change, competition and other risks affecting the Company in particular and the medical cannabis industry generally. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither 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.