TORONTO and DENVER, April 15, 2019 (GLOBE NEWSWIRE) -- MJardin Group, Inc. (“MJardin” or “the Company”) (CSE: MJAR) (OTCQX: MJARF), is pleased to announce what the company believes to be industry leading yield numbers from its “WILL” facility in Brampton, Ontario. “WILL” was the first of the Company’s Canadian asset portfolio to be federally licensed for cultivation and sales by Health Canada.
Drawing on MJardin’s 10 years of commercial growing experience and utilizing proprietary standard operating procedures, the WILL facility produced an average of 61 grams of flower and an additional 26 grams of extractable trim for a total of 87 grams of product per square foot of bench space per harvest since its first harvest in May 2018. These yields have surpassed MJardin’s historical average benchmarks over its last 10 years of experience. The team utilizes cultivation data collected since 2012 to maximize plant density and will typically execute on 6 harvests per room annually. The company will continue to focus on high yield production with expected annual targets of 340 grams per square foot of flower and 190 grams of trim for a total of 530 grams per square foot of bench space across all facilities MJardin owns or advises on.
In addition, the WILL facility is focusing on growing high THC cultivars of which each phenotype has been carefully selected by our skilled in-house operations team. Based on our first 10 months of harvests, these phenotypes are averaging over 21% THC with some varieties as high as 28%.
MJardin is proud to have achieved these results without the use of pesticide application to the plants nor any use of irradiation.
“We are extremely pleased that we have been able to generate such high yields from our first Canadian cultivation facility,” noted Eric Gattoni, Senior Vice President, NA West/Central of MJardin. “We have successfully transplanted our high yield growing methodology from our 10 years of US experience into our Canadian portfolio.”
“What we do best is consistently produce premium cannabis with high yields,” noted Chairman of the Board and Interim CEO, Adrian Montgomery. “We look forward to continued growth with impressive results at WILL and across all our facilities as more production comes online.”
The 32,800 square foot WILL facility was awarded a cultivation license in November 2017 and subsequently produced its first harvest in May 2018. The facility has a base production capacity of approximately 3,000 kg/year and was awarded a sales license by Health Canada in December 2018.
About MJardin Group
MJardin is a cannabis management platform with extensive experience in cultivation, processing, distribution and retail. For over 10 years, MJardin has refined cultivation methodologies, developed state of the art facilities and implemented vertical integration for and on behalf of license owners. MJardin is based in Denver, Colorado and Toronto, Canada. For more information, please visit www.mjardin.com.
The CSE has not in any way passed upon the merits of and has neither approved nor disapproved the contents of this news release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Forward-Looking Information
This news release contains forward-looking information based on current expectations. Statements about, among other things, future developments and the business and operations of MJardin, our production capacity, our production results, trading of MJardin’s shares on the OTCQX Best Market, the receipt of any pending regulatory approvals or licenses, the growth of our global footprint and our intentions to leverage our scale for continued organic growth and to pursue strategic investments are all forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such factors include, but are not limited to: our ability to identify and pursue growth, financing and other strategic objectives, and the regulatory and economic environments in the jurisdictions we operate or intend to operate or investment in. Although such statements are based on management’s reasonable assumptions at the date such statements are made, there can be no assurance that the proposed acquisition will occur and that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on the forward-looking information. MJardin assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.
INVESTOR CONTACT:
Ali Mahdavi
Capital Markets & Investor Relations
416-962-3300
Ali.mahdavi@MJardin.com
Frank Knuettel II
Chief Strategy Officer
720-613-4019
Frank.Knuettel@MJardin.com