MPX International Subsidiary Gets Medical Sales License in Canada

MPX International (CSE:MPXI) announced Canveda, its producer subsidiary, obtained a sale for medical purposes and standard processing licences in Canada.

As quoted in the press release:

The licence will allow Canveda, conditional upon Health Canada’s final pre-sales inspection, to develop its medical patient and product strategy and to commence selling their own products directly to registered patients for medical purposes. In the mean time, Canveda will continue selling dried flower products to other Licenced Producers with medical sales licences. The processing licence will allow Canveda to commence processing of dried cannabis into other formats including capsules and pre-rolls.

Following approval from Health Canada, Canveda imported 28 new strains of cannabis from a supplier in the Netherlands and proceeded with the cultivation of several of these new strains with a first harvest scheduled for April 2019. Cultivation of these new high-quality strains will provide Canveda with a multitude of different varieties of cannabis over the next few production cycles. The Canveda facility is now in full production and is expected to produce 1.2 million grams of high-quality cannabis flower over the next 12 months.

Additionally, Canveda is licenced to produce cannabis oils and capsules and has commenced the build-out of a small production laboratory expected to be operational by late Q2 2019. Once the initial two batches of oil have passed successful qualitative analysis, Canveda will request oils to be included in its medical sales licence. Once licenced, the production facility will operate temporarily pending completion of the much larger project in Owen Sound, Ontario.

Click here to read the full press release.