Lotus Ventures Inc. (CSE:J) (“Lotus” or the “Company”) has achieved a major milestone with the receipt from Health Canada of the Confirmation of Readiness for a License Under the Access to Cannabis Regulations (ACMPR). This represents acceptance of our detailed application.
Lotus’ construction of its 22,500-square foot purpose-built indoor growing facility in Armstrong, B.C. is in full force and will be completed in August 2018. The company has sufficient capital to finish the construction of the facility and to exercise its option to acquire the 23 acre Armstrong property in June 2018.
The next milestone is receipt of the Cultivation Licence which will allow Lotus to begin growing cannabis. This will be granted once construction is finished and then a “Sale License” will be issued after the first two crops have been grown successfully.
ON BEHALF OF THE BOARD
Lotus Ventures Inc.
Dale McClanaghan, President and CEO