Kitchener, Ontario, September 18, 2018 - James E. Wagner Cultivation Corporation ("JWC" or the "Corporation") (TSX VENTURE: JWCA), is pleased to announce that on September 17, 2018, it received pre-approval for the saveONenergy incentive program (the "Incentive Program") for its climate control systems, installed during the phase one development of its second 345,000 square foot facility located on Manitou Drive in Kitchener, Ontario ("JWC 2"). The Incentive Program is administered through JWC's local distribution company, Kitchener-Wilmot Hydro Inc.
Recognizing that the cannabis industry is highly energy-intensive, JWC has made it their priority to develop an environmentally-conscious and energy-efficient production process. JWC has implemented state-of-the-art, Price Industries' GRW HVAC units (the "Units") at its current pilot facility and has also commenced installation of these Units at JWC 2. JWC intends to pursue the Incentive Program on all future HVAC process equipment installations during the next phases of construction at JWC 2. Through the use of these Units, the Corporation has achieved advanced micro-climate environmental control providing both increased production yields and reductions in plant lifecycle, thereby improving the energy efficiency of the entire production process. As a result, JWC believes it is an excellent and unique candidate for the Incentive Program.
If JWC receives final approval under the Incentive Program, JWC will be reimbursed for up to fifty percent (50%) of its process HVAC infrastructure costs. In order to be eligible for final approval and financial reimbursement, JWC is completing a twelve-month measurement and verification period, to ensure that the Units are functioning at the projected level of energy-efficiency. JWC has worked closely with Kitchener-Wilmot Hydro Inc. on this project to ensure the greatest potential for environmental benefits is achieved. Kitchener-Wilmot Hydro Inc. anticipates this being the largest energy efficiency project that Kitchener-Wilmot Hydro Inc. has completed to date. The first phase of Units installed by JWC will save an estimated 3,100,000 kilowatt hours ("kWh") annually, which is equivalent to the energy consumed by more than 375 homes in the Kitchener region. With the aid of the Incentive Program, JWC will be able to effectively measure energy savings, continue to optimize its operations, and receive a substantial return on investment.
JWC's wholly-owned subsidiary is a Licensed Producer under the Access to Cannabis for Medical Purposes Regulations ("ACMPR") and 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 prides itself on its 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.
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 and any information with respect to the potential growth of the Company and increasing production capacity at its facilities and the proposed shipment of its products and the benefits of the arrangements entered into with customers and partners. The forward-looking information contained in this news release are based on JWC’s current internal expectations, estimates, projections, assumptions, and beliefs and views of future events which management believes to be reasonable in the circumstances, including expectations and assumptions regarding: general economic conditions, the expected timing and cost of expanding the Company’s production capacity, the internal opportunities, the development of new products and product formats, the Company’s ability to retain key personnel, the Company’s ability to continue investing in its infrastructure to support growth, the impact of competition, trends in the Canadian medical cannabis industry and changes in laws, rules, and events, performance or results, and will not necessarily be accurate indications as to whether, or the times at which, such events, performance or results will occur or be achieved. The forward-looking statements can be identified by the use of such words as “anticipated”, “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, funding and grant related risks and risks associated with growth and competition as well as the risks identified in the Company’s Filing Statement available under the Company’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 Company 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.
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