MJardin Awarded Cultivation & Processing License from Health Canada for its Largest Facility
TORONTO and DENVER, Dec. 16, 2019 (GLOBE NEWSWIRE) — MJardin Group, Inc. A leader in premium cannabis production, announced today that it has received its cultivation and processing license from Health Canada for “Warman”, a 120,000 sq. ft. retro-fitted cultivation facility located in Winnipeg, Manitoba, the largest in the Company’s portfolio.
Phase 1 construction of the building is complete and cultivation in this area will begin immediately.
“This is a great milestone for our flagship facility in Winnipeg and a great day for the team,” said Pat Witcher, Chief Executive Officer of MJardin Group. “The timing of this achievement keeps us on schedule to reach full capacity in Manitoba by the end of 2020. It also allows us to focus more of our production on extraction at this facility and take full advantage of that high value market.”
On October 4, 2019, MJardin announced that the Company received a C$11 million payment towards the previously announced Letter of Intent (LOI) joint venture agreement with Peguis First Nation (51%) that will see Peguis purchase the existing land and buildings from MJardin and additionally fund the capital expenditures required to complete Phase 2 of the facility for approximately C$20.5 million. The joint venture agreement is expected to close in early 2020.
“Our partners have been working very hard to get to this day and we look forward to reaching full production and employment capacity in 2020 and bringing this significant economic development project to full fruition,” stated Peguis First Nation Chief Glenn Hudson.
This marks MJardin’s third cultivation and processing license in its Canadian portfolio covering facilities in Ontario, Nova Scotia, and Manitoba. The Company expects to receive its fourth cultivation license and a second sales license in the coming weeks.
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