Kitchener, Ontario, December 6, 2018 - James E. Wagner Cultivation Corporation (“JWC” or the “Corporation”) (TSX VENTURE: JWCA), is pleased to announce that, following a building inspection by the City of Kitchener, JWC received a permit for full occupancy (the “Permit”) of its second facility, which is located at 530 Manitou Drive, Kitchener, Ontario, N2C 1L3 (“JWC 2”).
The Permit allows the Corporation to make the necessary preparations for all aspects of cultivation activities in the rooms completed during the first phase of construction. The rooms constructed during the first phase of construction include the following: one large vegetative growth room, eight flowering rooms, one trimming and processing room, one drying room, one destruction room, one secure storage room and one equipment manufacturing shop. Once a cultivation licence for JWC 2 is finalized by Health Canada, cultivation activities are expected to commence immediately.
JWC 2 is designed to provide a total of approximately 345,000 square feet of state-of-the-art cultivation space. It is anticipated that this retro-fitted facility will feature more than 130 production rooms at the completion of construction, which is scheduled to be completed sometime in the latter half of 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.
“The completion of the first phase of our new full-scale facility is a major milestone in our company’s history. We now have the ability to grow on a scale that will make us competitive with other major Canadian cannabis companies, allowing us to prove that our ground-breaking technology is the premier method for producing top quality cannabis.” Nathan Woodworth, President & CEO.
JWC’s wholly-owned subsidiary is a Licensed Producer under the Cannabis Regulations (called “C45Reg”) and 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
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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