TORONTO and DENVER, April 18, 2019 (GLOBE NEWSWIRE) -- MJardin Group, Inc. (“MJardin” or “the Company”) (CSE: MJAR) (OTCQX: MJARF), is pleased to announce that its joint-venture AtlantiCann Medical Inc. (“AMI”) facility located in Lower Sackville, Nova Scotia has now reached its full production capacity in an impressive four months since receiving its cultivation and processing license on December 7, 2018. AMI is a three-way joint-venture consisting of Nova Scotia Mi’kmaq First Nations (51%), MJardin Group, Inc. (39%) and the Halef Group (10%).
Phase 1 of the AMI complex is a 48,000 square foot cultivation and extraction facility with a full production capacity of 4,700 kg of flower and trim. In just four months since the AMI team received its cultivation license, the facility has propagated all flower rooms with a total of 6,000 plants, 3,600 of which are currently in flower stage. Phase 2 of the AMI complex will expand production to approximately 8,550 kg of flower and trim by adding another 20,000 square feet of capacity.
“The impressive turnaround time to reach full production capacity at AMI is a testament to the skilled experts we have within our Company and our dedicated team in Lower Sackville,” noted Christine Halef, SVP of Atlantic Canada Operations. “MJardin is drawing from 10 years of hands on experience cultivating premium cannabis with high yields in the United States.”
“We are very pleased with the progress that the AMI team has already made in Nova Scotia and the speed at which our facility is moving,” noted Chief Terrance Paul, Co-Chair of the Assembly of Nova Scotia Mi’kmaq Chiefs. “We performed a high degree of due diligence to find the right partners, and this latest milestone is a reflection of our confidence in MJardin’s experience, knowledge and capabilities.”
The AMI complex is currently working towards its Good Manufacturing Practices (“GMP”) certification which would allow for product export to international markets. Additionally, extraction capabilities are expected to be implemented in Q4 of 2019 in time for the legalization of additional cannabis products.
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.
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 future performance and capacity of AMI, 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 invest 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.
|Ali Mahdavi||Frank Knuettel II|
|Capital Markets & Investor Relations||Chief Strategy Officer|