Green Mountain Health Alliance Ltd. Announces Acceptance of Offer to Purchase 16 Acre Agricultural Land in Kaleden (Okanagan), British Columbia
Vancouver, British Columbia--(Newsfile Corp. - February 6, 2018) - Green Mountain Health Alliance Ltd. ("GMHA" or the "Company") today announced that its offer to purchase a 16 acre agricultural property in Kaleden, British Columbia has been accepted. The purchase price is $879,000 of which $75,000 is a non-refundable deposit. The Company paid the non-refundable deposit on February 2, 2018 after all purchase conditions were met. The sale is expected to close by March 2, 2018.
GMHA intends to file an application for a 200,000 square foot greenhouse facility on this property pursuant to Canada's Access to Cannabis for Medical Purposes Regulations ("ACMPR"). The Company is targeting to submit the application before February 15, 2018.
"We are very excited to have identified this property as our first site for cultivation of cannabis under the ACMPR licence," said John King, Chief Executive Officer of GMHA. "With more than 2,000 hours of sunshine every year, the Okanagan region is known as the Napa Valley of Canada. With close proximity to nearby municipalities and a local police force, we will bring viable jobs to the area and incur lower costs relating to security requirements for the site."
About Green Mountain Health Alliance Ltd.:
GMHA is an innovative cannabis-focused company that operates within the approved regulatory and legal framework established by the Canadian Government and administered by Health Canada. The Company is ready to submit an application before end February 15, 2018 to become a licensed cultivator, processor and distributor of cannabis under Canada's ACMPR program administered by Health Canada. GMHA is also preparing to contribute to the emerging recreational cannabis market as soon as recreational cannabis is legalised.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
For further information:
Chief Executive Officer
Tel: (250) 486-5454
VP Business Development