Relevium’s Subsidiary Obtains Approval for Cannabis Facility

Relevium Technologies (TSXV:RLV) announced its subsidiary Biocannabix Health Corporation obtained approval from the city of Ville St-Laurent, Quebec for the location of its 93,000 square feet cultivation and processing facility for medical cananabis.

As quoted in the press release:

Aurelio Useche, CEO of Relevium stated: “The approval letter from the City of Ville Saint-Laurent constitutes an important milestone for the Company as it provides the project with municipal support and considerably de-risks the process.” Mr. Useche continued: “To our knowledge the Biocannabix facility will be the most central ACMPR licensed producer in the Greater Montreal area, a city that is the second largest population center in Canada and with its strategic location, which is situated 20 minutes from the downtown core and adjacent to the TransCanada highway. This will provide the company with an important competitive advantage.”

Now that the approval letter from the city of Saint-Laurent has been granted, the Company will now focus on finalizing the lease agreement for the facility. The Company intends to have the lease agreement finalized within the next 30 days. The Company will continue to work with its consultants, PipeDreemz Inc. on the construction design, business plan and cultivation parameters for the facility and expects to provide an update on progress by late summer.

Click here to read the full press release.

Source: globenewswire.com