VICTORIA, BC, Sept. 22, 2014 /CNW/ - T-Bird Pharma Inc. (TSXV:TPI) ("T-Bird" or the "Company"), a pharmaceutical company focused on developing premium quality medical marijuana products, is pleased to announce that its wholly owned subsidiary, Thunderbird Biomedical Inc. ("Thunderbird"), has signed a definitive lease agreement for a second facility located in Victoria, BC. The 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.
Architectural and engineering work has started and the Company expects infrastructure work to commence in October. Based on the time required for municipal permitting and construction, Thunderbird aims to have the first Health Canada inspection of the new facility in Q1-2015.
Upon completion of the first phase of construction at the facility and licensing by Health Canada the increase in growing capacity will be clearly significant. "After fine tuning our pharmaceutical-grade manufacturing processes at our current facility (3,100 square feet) we are excited to be executing on the first phase of a multi-phase expansion of our business. We look forward to demonstrating the scalability of our platform while ensuring a consistent premium quality product for the Canadian market," said Rob Gagnon, CEO of T-Bird.
The Company will continue to provide updates on the progress of the second facility over the coming months.
About T-Bird and Thunderbird
Thunderbird Biomedical Inc. is a British Columbia private company incorporated under the BCBCA on January 28, 2013, and is wholly-owned by T-Bird Pharma Inc. 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. T-Bird is the publically traded parent company of Thunderbird.
ON BEHALF OF THE BOARD
CEO and Director
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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.
For further information: Kam Thindal at 604-488-9875.