Cannara Biotech Inc. (“Cannara” or the “Company”) (CSE:LOVE, OTCQB:LOVFF, FRA:8CB), an emerging vertically integrated cannabis company focused on indoor cultivation, processing and medical sale of premium dried cannabis and cannabis derivatives under The Cannabis Act, today announced the receipt of its cultivation licence from Health Canada for Phase 1 of its purpose-built Farnham Facility, in Québec.

Highlights:


  • Cultivation is expected to begin immediately with a first harvest to take place in the second quarter of 2020;
  • The granted cultivation and processing licences are for Phase 1 of the Farnham Facility (170,000 sq. ft.). The licenced area is part of a larger 625,000 sq. ft. multipurpose and modern facility;
  • Phase 1 includes a designated space for state-of-the-art extraction and processing;
  • Creation of 100 local jobs; and
  • Annual cultivation capacity is estimated at up to 20,000 kg per year.

“After many months of diligent preparation, today’s milestone will allow us to start cultivation immediately and to advance our goal of becoming the premiere grower of cannabis in Québec and in due course, the rest of Canada,” said Barry Laxer, COO of Cannara Biotech (Quebec) Inc. “All of us would like to thank our construction team for delivering a state-of-the-art facility, along with the invaluable community support we have received. With a well-funded balance sheet, financially Cannara begins this next phase of our growth with strength and durable fundamentals,” added Mr. Laxer.

About Cannara Biotech Inc.
Cannara Biotech Inc. (CSE: LOVE) (OTCQB: LOVFF) (FRA: 8CB), is building one of the largest indoor cannabis cultivation facilities (625,000 square feet) in Canada and the largest in Québec. Leveraging Québec’s low electricity costs, Cannara Biotech’s Farnham Facility will produce premium indoor cannabis and cannabis-infused products for the Canadian and international markets.

The CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding “Forward-Looking” Information

This information release contains certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company’s current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Click here to connect with Cannara Biotech Inc. (CSE:LOVE) for an Investor Presentation.

Source

 

Cannabis - Will The Fortune 500 Join The Party?

 
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
 

Florida’s capital city is where Trulieve opened its first retail location and will be home to its 100 th dispensary in the state

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), the largest multi-state operator (MSO) in the United States today announced the opening of its 100 th dispensary in the state of Florida . The location is in Tallahassee, Florida where Trulieve opened its first store, and was formerly branded as Harvest House of Cannabis. Trulieve will host a ribbon cutting and begin serving patients at this location at 8:30 am on Tuesday, October 19 and will celebrate the milestone at all locations statewide.

Keep reading... Show less

Virtual Investor Conferences in partnership with KCSA Strategic Communications today announced the presentations from the KCSA Psychedelics Virtual Investor Conference are now available for on-demand viewing.

Keep reading... Show less

Matica Enterprises Inc. (CSE: MMJ) (FSE: 39N) (OTCQB: MMJFF) (“Matica” or the “Company”) is pleased to announce that the Company’s subsidiary, RoyalMax Biotechnology Canada Inc. D.B.A. West Island Culture (“West Island”) has signed a Master Supply Agreement with the Ontario Cannabis Retail Corporation, doing business as the Ontario Cannabis Store (the “OCS”), which is the sole wholesale distributor of cannabis for the province. West Island was selected as part of the OCS’s Limited Release program.

Matica CEO, Boris Ziger states, “We welcome the opportunity to introduce our OUESTTM brand of premium craft cannabis to Ontario. We begin our entry into Canada’s largest cannabis market with our flagship ‘Sweet Demon’, a super premium product that has become an instant classic in the Prairies. It is a privilege to be able to serve the people of Ontario and deliver the kind of rare quality that the market is now demanding.”

Keep reading... Show less

Matica Enterprises Inc. (CSE: MMJ) (FSE: 39N) (OTCQB: MMJFF) (“Matica” or the “Company”) is pleased to announce that, in connection with the previously announced share consolidation on a thirty (30) for one (1) basis (the “Consolidation”), the Company will be changing its name to West Island Brands Inc. (the “Name Change”).

The common shares are scheduled to begin trading on a post-consolidation basis at market open on October 20, 2021 under the stock symbol “WIB”. The new CUSIP number will be 953400108 and the new ISIN number will be CA9534001081. Following the Consolidation, the Company will have approximately 10,712,484 common shares issued and outstanding.

Keep reading... Show less

In the cannabis space this week, a popular beverage maker hired a new executive in hopes of pursuing opportunities in the cannabis drink industry.

Meanwhile, Canopy Growth (NASDAQ:CGC,TSX:WEED) announced a fresh acquisition agreement for a partner designed to boost its presence in a potentially available US adult-use cannabis market.

Keep reading... Show less