Aqualitas Inc. Receives Health Canada Cannabis Cultivation Licence


LIVERPOOL, Nova Scotia, Jan. 23, 2018 (GLOBE NEWSWIRE) -- Aqualitas Inc. (Aqualitas) has been granted a licence to cultivate medical cannabis pursuant to Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR).

“It’s been three years of intense work, propelled by our passionate and committed team, to reach this stage,” says Myrna Gillis, co-founder and CEO of Aqualitas. “We’re excited about the company’s future and what this new industry is bringing to Nova Scotia’s beautiful south shore.”

As an early player in one of the largest per capita cannabis markets in Canada, Aqualitas aims to have all-natural, aquaponically-grown cannabis ready for market by this summer. The facility’s annual growth at capacity is projected at 9,000 kg and expansion into a further 20 acres beginning this June will move it towards its goal of becoming the largest licensed producer of all-natural cannabis in Canada.

“We’re particularly proud of how we’ve been able to combine scientific research with our commitment to growing quality cannabis. Our outstanding team of scientists, business professionals and creative thinkers has made Aqualitas a disruptor in this industry,” says Gillis. 

Investors have also placed tremendous confidence in the company’s technological innovations, environmental values and most importantly, its team. Aqualitas recently closed an over-subscribed offering of common shares for total gross proceeds in excess of $8.8 million CAD.

“Myrna and her team have excelled in their execution. We're thrilled to support this strong and passionate team as they create such a positive impact in their local market,” says Matt Shalhoub of Green Acre Capital. “This investment stretches our ecosystem of investments from coast to coast, and we look forward to continuing to be a part of the Aqualitas growth story.”

Aqualitas is currently one of only three licensed cannabis cultivators in Nova Scotia and the only to use an aquaponic growing platform.

About Aqualitas

Aqualitas is a licensed producer of medical cannabis in Canada. Developed through its research subsidiary, FinLeaf Technologies, Aqualitas’s award-winning proprietary aquaponic growing platform combines horticulture and fish farming, creating a mutually beneficial closed-loop system. The result is a cultivation process that requires 50% less energy, 90% less water and no synthetic chemicals or pesticides – producing safe, consistent, all-natural quality cannabis.

FORWARD LOOKING INFORMATION: Certain information in this press release may contain forward-looking information within the meaning of applicable Canadian securities legislation relating, but not limited to, the Company’s expectations, intentions, plans and beliefs. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements.  

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