CannTx Obtains License to Cultivate From Health Canada
PUSLINCH, Ontario, July 17, 2018 - CannTx Life Sciences Inc. (the “Company” or “CannTx”) is pleased to announce it has been granted a license to cultivate cannabis from Health Canada under the Access to Cannabis for Medical Purposes Regulations (ACMPR). Obtaining this license marks a significant milestone for CannTx.
“This is a major step towards our much bigger goal of providing our quality product to medical patients and to recreational customers in the adult-use market once legalization of cannabis takes place in October 2018. We also look forward to becoming the premium supplier of certifiably clean, disease-free inputs to licensed producers as part of our larger business plan,” said Mike Abbott, President and CEO of CannTx.
The Company expects to begin production at its state-of-the-art Puslinch site in the coming weeks. CannTx has a 30,000 square foot indoor facility, which includes a 5,000 square foot mezzanine level for the production of over 2 million micropropagated plantlets per year. These plantlets will be sold to licensed producers, in addition to supplying CannTx’s own production of premium floral products. The Company has an expected capacity of more than 6 million grams of floral product across 24,000 square feet of vertical grow cultivation space. CannTx is expected to reach this capacity in 2019.
The Company is poised to become an industry leader, with an innovative solution led by micropropagation, that includes specialized lighting, vertical farming technology, and leading-edge environmental controls to increase outputs.
The CannTx facility is located just outside of Guelph, in southwestern Ontario, an area in recent years which has been referred to as Silicon Valley North.
“We’re strategically located in the heart of Canadian agri-business, biotechnology and innovation. We will be employing a distinct blend of those occupational fields in setting new measures of quality and standardization in growing plants and producing cannabis products,” continued Mr. Abbott. “I’d like to thank our stakeholders and industry partners who have supported us over the past 5 years. We are very excited about this development, and we look forward to continuing to grow with you.”
For further information, please contact:
Jennifer Charlebois, Communications ManagerEmail: email@example.com
About CannTx Life Sciences Inc.
Founded in 2013, CannTx is a privately-owned Canadian company and is a licensed producer under the Access to Cannabis for Medical Purposes Regulations. CannTx is equipped to become the only commercial scale producer of micropropagated inputs for sale to licensed producers, as well as for use in its own state-of-the-art facility, located in the heart of Canadian cannabis cultivation. The CannTx solution involves harnessing biotechnology (specifically micropropagation and vertical farming) for Cannabis cultivation, which results in improved consistency of product, enhanced safety, greater selection, better availability and the ability to respond to changing consumer preferences.
For more information, please visit www.CannTx.com
This press release contains statements that constitute “forward-looking information” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements contained in this news release include, without limitation, statements regarding: the Company’s facility, expected capacity, production, business and operations. Although the Corporation believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.