Company well-positioned for the recreational market
TORONTO, April 21, 2016 /CNW/ - Canada's Minister of Health Jane Philpott announced yesterday that legislation to legalize marijuana in Canada will be introduced in spring 2017. Mettrum Health Corp. ("Mettrum" or the "Company") (TSXV:MT), a vertically integrated producer of cannabis products, looks forward to being a leading brand and distributor of a dynamic line of retail offerings.
"Mettrum is excited to lead the way into this exciting and long-awaited category," said George Scorsis, president of Mettrum. "The Company will leverage best practices in research and development, production, and consumer packaged goods marketing to solidify its leadership position in the recreational market."
Mettrum was the first company to simplify the strain selection process and create a dialogue around medical cannabis based on the strength and ratio of THC to CBD. "Just as we have done for our medical brand, we will continue to bring innovation to the adult-use market, and look forward to pursuing an aggressive retail strategy once changes in legislation at the federal level are implemented." Scorsis continued.
Mettrum has three production facilities already licensed by Health Canada, with a production capacity of 12,000 kg per year and the opportunity to further increase capacity at its flagship facility in Bowmanville, Ontario. "As one of Canada's largest producers and sellers of medical cannabis, we're exceptionally well-positioned to meet the increased demand and participate in the legalized cannabis market," said Michael Haines, CEO of Mettrum.
Mettrum's "Live Your Way" campaign is a commitment to provide its clients with ongoing access to all things cannabis, whether through the Mettrum Spectrum™ line of medical cannabis products or its healthy line of hemp-based functional foods, Mettrum Originals™. The Company believes that its mission to help people live their way will resonate as the company enters into new legal markets.
About Mettrum Health Corp
Mettrum Health Corp. is a Tier 1 Industry Issuer listed on TSX Venture Exchange. Mettrum Ltd., a wholly owned subsidiary of the Company, is a Toronto-based company and a licensed producer of medical cannabis under the Marihuana for Medical Purposes Regulations (Canada) issued pursuant to the Controlled Drugs and Substances Act (Canada) (the "MMPR"), which came into effect on October 1, 2013. Mettrum received its first license from Health Canada under the MMPR on November 1, 2013 and began production of medical cannabis at its first production facility in Bowmanville, Ontario. Mettrum received its second license from Health Canada under the MMPR on December 11, 2014 for its Mettrum Creemore facility in Clearview, Ontario. Mettrum received its third license from Health Canada under the MMPR on December 17, 2015 for its new 60,000 square foot production and distribution facility in Bowmanville, Ontario. With the Company's three licenses, Mettrum is a leading producer and vendor of medical cannabis under the MMPR system. In addition, through its wholly owned subsidiary Mettrum Hempworks, Mettrum also is a licensed producer and distribution of industrial cannabis (hemp) products, including Mettrum's functional food line, Mettrum Originals, under the Industrial Hemp Regulations (Canada) issued pursuant to the Controlled Drugs and Substances Act (Canada).
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation, including, without limitation, the anticipated legalization of marijuana, the nature of the legalized and regulatory regime, the scope and functioning of the recreational and retail markets, as well as the Company's capacity, strategy and participation in any such market. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors, which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the results of operations. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law
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SOURCE Mettrum Health Corp.
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