VICTORIA, BC, April 10, 2015 /CNW/ - T-Bird Pharma Inc. (TSXV:TPI) ("T-Bird" or the "Company"), a pharmaceutical company focused on developing premium quality medical marijuana products and a licensed producer ("LP") to cultivate marijuana under the Marihuana for Medical Purposes Regulations (Canada) ("MMPR"), is pleased to announce that it has submitted an application to Health Canada for a second medical marijuana production facility in Victoria, BC.
The leased facility has 28,966 square feet of floor space with the option to add approximately 14,500 square feet of mezzanine space for a total of approximately 43,500 square feet and when fully built out will have an annual production capacity in excess of 2,000 kilograms. Building permits for the leasehold upgrades required to the facility have been obtained from the City of Victoria and the current municipal zoning allows for a medical marijuana production facility.
"As a part of our growth strategy we are excited to be moving forward with our second facility and utilizing the valuable knowledge and experience gathered from bringing our existing licensed facility online. Our team has developed scalable and more importantly Health Canada compliant Security, Quality Assurance and IT systems that will be implemented at the second facility," said Dr.Bin Huang, CEO of T-Bird.
About T-Bird and Thunderbird
T-Bird Pharma Inc. is the parent company of Thunderbird Biomedical Inc., a wholly owned private subsidiary formed in January, 2013. The principal activities of Thunderbird are the production of marijuana from its Victoria, British Columbia production facility, as regulated by the Marihuana for Medical Purposes Regulations (Canada). Thunderbird obtained a medical marijuana license to undertake the production of medical marijuana in February 2014, being the fifth company in Canada to obtain such a license. Thunderbird was acquired by T-Bird in September, 2013.
ON BEHALF OF THE BOARD
"David J. Raffa"
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Cautionary Statements Regarding Forward Looking Information
Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are "forward-looking statements".
We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements.
Forward-looking statements include, but are not limited to, statements with respect to commercial operations, including production and sales of medical marijuana, anticipated revenues, projected size of market, quantities of future medical marijuana production, completion of production facilities and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
T-Bird Pharma Inc. (the "Company") does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, results of production and sale activities, the Company's historical experience with medical marijuana operations, uninsured risks, regulatory changes, availability of production facilities, timeliness of government approvals and the granting of permits and licenses, changes in prices, actual operating and financial performance of facilities, equipment and processes relative to specifications and expectations. Actual results may differ materially from those expressed or implied by such forward-looking statements.
SOURCE T-Bird Pharma Inc.
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