January 8, 2020 MJ Shareholders
January 8th, 2020
Phase 2 Expansion to be complete January 2020
TORONTO and DENVER, Jan. 08, 2020 (GLOBE NEWSWIRE) — MJardin Group, Inc. (“MJardin” or “the Company”) (CSE: MJAR) (OTCQX: MJARF), a leader in premium cannabis production, is pleased to announce its AtlantiCann Medical Inc. (“AMI”) facility has been awarded a sales licence from Health Canada. AMI is a joint venture corporation consisting of Nova Scotia Mi’kmaq First Nations (51%), MJardin Group, Inc. (39%) and the Halef Group (10%).
The licence comes just weeks before phase 2 construction is set to be complete adding 20,000 square feet to the original footprint making the expanded facility 68,000 square feet with a total of 6,300 kg/year of production capacity.
“This is a significant day and great achievement for the Mi’kmaq of Nova Scotia and our partners as we receive this licence and can begin to sell to the Canadian retail market,” said Chief Terrance Paul, Co-Chair of the Assembly of Nova Scotia Mi’kmaw Chiefs. “We have expanded our footprint and production capacity and can now realize the full potential of our joint venture.”
“Our team is very proud of this important milestone and it means great things for our partnership,” said Pat Witcher, Chief Executive Officer of MJardin Group. “We are thrilled to bring our high-quality product to market, and we are confident that Canadian consumers will agree. We also look forward to serving the international market in 2020 from the AMI facility with our European distribution partners.”
On September 9, 2019, MJardin announced that the AMI facility has secured a supply contract with Franchise Cannabis Corp. subsidiary, ACA Muller for 2,250 kg of high THC (>20%) medical cannabis to serve the German market. AMI expects to receive EU GMP certification in Q4 2020.
About MJardin Group
MJardin is a cannabis management platform with extensive experience in cultivation, processing, distribution and retail. For over 10 years, MJardin has refined cultivation methodologies, developed state of the art facilities and implemented vertical integration for and on behalf of license owners. MJardin is based in Denver, Colorado and Toronto, Canada. For more information, please visit www.mjardin.com.
The CSE has not in any way passed upon the merits of and has neither approved nor disapproved the contents of this news release. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
This news release contains forward-looking information based on current expectations. Statements about, among other things, future developments and the business and operations of MJardin, our production capacity, our production results, the receipt of any pending regulatory approvals or licenses, the growth of our global footprint and our intentions to leverage our scale for continued organic growth and to pursue strategic investments are all forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such factors include, but are not limited to: our ability to identify and pursue growth, financing and other strategic objectives, and the regulatory and economic environments in the jurisdictions we operate or intend to operate or invest in. Although such statements are based on management’s reasonable assumptions at the date such statements are made, there can be no assurance that the proposed acquisition will occur and that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on the forward-looking information. MJardin assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.
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About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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