by Seed Health and Wellness in Investor Relations
FOR IMMEDIATE RELEASE
WELLAND, On – Seed Health and Wellness (“Seed”) has received notice from Health Canada that their application under the Cannabis Act has entered the Review Queue in the Cannabis Tracking and Licensing System (CTLS). The application for a 144 acre outdoor cannabis grow operation was submitted on December 15, 2018 and production is targeted to begin in 2019. Seed is the second in Canada to apply for an outdoor grow license since the guidelines were set October 17, 2018. With Seed’s proposed 105 acres of growing area this site will be one of the largest applications on record for an outdoor cannabis production license and is anticipated to reach full production by 2020. Seed anticipates a production capacity for 2019 of 30,750 kg of cannabis flower with a cost per gram of $0.25, making it one of the lowest production cost licensed producers in Canada. The property was purchased in March 2018 as an operating agricultural business that leverages 39,000 sq.ft. of agricultural buildings and an on site supply of natural gas, both of which Seed will use for cannabis production and drying operations.
“We are proud to be a leader at the forefront of cannabinoid production to serve our existing medical patients and to support our emerging recreational programs. Our production footprint will ensure that Canadians will have a consistent supply of their chosen genetics. Once our patients find a strain that works for them our supply chain will ensure they can reorder with confidence.” says Darryl Tempest, CEO of Seed Heath and Wellness.
Seed has completed the application by contracting Cannabis Compliance Inc, the largest full-service Cannabis consulting firm in Canada who provides subject matter expertise on compliance in adherence with country specific Cannabis regulations.
About Seed Health and Wellness Inc
Seed Health & Wellness (“Seed”) is an integrated wellness provider that prioritizes solutions that address the problem instead of coping with it. With an existing network of eight partner locations that provide holistic medical and physiotherapeutic treatments to patients that range from pain management to senior care, Seed applies focus to the root problem or ailment. Seed is currently providing medical treatment cannabinoid therapy with our partnerships with Canada’s top Licensed Producers through online communities. The addition of licensed production of cannabis with tailored cannabinoid medical directed strains will make Seed’s product line unique in the Canadian cannabis marketplace. As a vertically integrated wellness provider with an existing client base and active patient roster, Seed is generating revenue prior to the first harvest. You can find more information on Seed Heath and Wellness online at http://seedhw.com.
This press release contains “forward-looking statements” within the meaning of applicable securities laws of Ontario. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts that cannot be determined at time of release. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are subject to risks and uncertainties that could cause events or results to differ from those reflected in the forward-looking statements. Investors should be cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof, and Seed does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Seed’s expectations or projections.
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