Kitchener, Ontario, December 11, 2018 - James E. Wagner Cultivation Corporation (“JWC” or the “Corporation”) (TSX VENTURE: JWCA), is pleased to announce it has received a main building permit from the City of Kitchener – Building Division (the “Permit”) for the second phase (“Phase 2”) of the construction of its second facility, which is located at 530 Manitou Drive, Kitchener, Ontario, N2C 1L3 (“JWC 2”).
The Corporation estimates that Phase 2 will include the construction of twenty-four (24) flowering rooms, each with high volume growth capacity. The Corporation also anticipates that once complete, Phase 2 will provide a total of approximately 35,000 square feet of cultivation space. If completed to plan, this would provide three times the flowering capacity of the first phase of construction which was recently completed and granted a permit for occupancy. Management of the Corporation projects that, upon completion of Phase 2, JWC’s production capacity will increase by 180 percent (%). JWC has prepared for the receipt of the Permit for Phase 2 and expects a rapid pace of construction to bring JWC 2 to a high level of production.
JWC 2 is designed to provide approximately 345,000 square feet of both state-of-the-art production space and a variety of support areas. It is anticipated that the retro-fitted facility will feature more than 130 production rooms once complete in late 2019. Like the Corporation’s existing pilot facility, JWC 2 will also utilize advanced research and cultivation methods, including the Corporation’s proprietary aeroponic GrowthSTORM™ Dual Droplet system. Upon completion of JWC 2, the Corporation anticipates that it will employ more than 450 employees and produce high volume, premium cannabis to meet the anticipated medical and recreational demands.
“It is gratifying to see the progress made at our expansion facility, but we remain focused on the continuing development of the total buildout. Once fully licensed, we will be prepared to quickly ramp up production at this site, and it will be vital that new spaces become available as we have plant material to fill them. We have set an aggressive development schedule in order to ensure that our products will be in both the medical and recreational markets as soon as possible.” Nathan Woodworth, President and Chief Executive Officer.
JWC’s wholly-owned subsidiary is a Licensed Producer under the Cannabis Regulations ( “C45Reg”), formerly the Access to Cannabis for Medical Purposes Regulations (“ACMPR”). JWC is a premium cannabis brand, focusing on producing clean, consistent cannabis. JWC uses an advanced and proprietary aeroponic platform named GrowthStorm™. JWC was founded as a family company and is based on family values. JWC began as a collective of patients and growers under the Marihuana Medical Access Regulations (the precursor to ACMPR). Since its inception, JWC has remained focused on providing the best possible patient experience. JWC’s operations are based in Kitchener, Ontario. Learn more at www.jwc.ca
For additional information about JWC, please refer to JWC’s profile on SEDAR (www.sedar.com) or the Company’s website: www.jwc.ca
Notice regarding forward-looking statements:
This press release contains statements including forward-looking information for purposes of applicable securities laws (“forward-looking statements”) about JWC and its business and operations which include, among other things, statements regarding JWC 2, including the timing for completion of its construction and the receipt of future occupancy permits, the size and structure of JWC 2 and the anticipated production for JWC 2. The forward-looking statements can be identified by the use of such words as “will”, “expected”, “approximately”, “may”, “could”, “would” or similar words and phrases. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those implied in the forward-looking statements. For example, risks include risks regarding the cannabis industry, economic factors, the equity markets generally, building permit related risks and risks associated with growth and competition as well as the risks identified in the Corporation’s Filing Statement available under the Corporation’s profile at www.sedar.com. Although JWC has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release and are based on current assumptions which management believes to be reasonable. The Corporation disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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