Cansortium Awarded Cannabis Cultivation, Processing and Medical Sales License by Health Canada
The Company used a portion of its recent initial public offering to complete preparation of its Grimsby, Ontario facility. The Company will commence use of the campus consisting of 21,780 sq. ft. of greenhouse cultivation capacity, 3,468 sq. ft. for processing and 8,500 sq. ft. of physical plant. The campus is approximately 85% complete for phase 2, which is planned to be completed in Q3, 2019. Once complete, this will increase the total cultivation space to 100,200 sq. ft and an expected annual production of up to 3,320 kgs of dried cannabis and derivitives.
Executive Vice-President, Finance and Investor Relations
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Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in the public documents of the Company available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully.
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