CHATHAM, ON, Sept. 5, 2019 /CNW/ - AgMedica Bioscience Inc. ("AgMedica" or the "Company"), a licensed producer of cannabis for medicinal and adult-use consumers, is pleased to announce that it has received approval from Health Canada to extend its existing cultivation and processing license to phase two of its Riverview facility expansion. This approval will allow AgMedica to add a further 12 flowering rooms and increase the cultivation capacity of the facility to between 26,000 and 30,000 kg per year, more than tripling its current capacity.
Receipt of this approval represents another key milestone in AgMedica's path toward becoming a global leader in the development and commercialization of cannabis and cannabis-derived products designed to support client health and wellness. Since late 2017, the Company has successfully secured the regulatory approvals required to harvest and sell cannabis, which has contributed to the ongoing growth and enhancement of the business.
"I am very pleased that AgMedica has received Health Canada approval for our phase two facility expansion," said Dr. Trevor Henry, AgMedica's CEO. "We gain nearly four times the productive capacity and are better positioned to continue helping improve the quality of life for all of our patients by providing superior, consistent, quality medication."
In addition to the phase two expansion approval, the Company also confirms that on August 2, 2019, it was granted a medical sales license for its Heritage location, which enables AgMedica to better facilitate healthy living for its clients through a portfolio of products that includes CBD, THC and Balanced varieties.
About AgMedica Bioscience Inc.
As a licensed producer of medicinal cannabis, AgMedica is dedicated to becoming a global leader in the development and commercialization of cannabis and cannabis-derived products to support the health and wellness of our clients. We aspire to drive the evolution of the cannabis industry by focussing investment on the development and commercialization of differentiated products in the medicinal, health & wellness and pharmaceutical sectors. For further information, please visit our website at www.agmedica.ca.
This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. These risks and uncertainties include, but are not limited to, the availability of further financing, consumer interest in its products, competition, regulation, operational and technological risks, and anticipated and unanticipated costs and delays. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
SOURCE AgMedica Bioscience Inc.
For further information: For media or other inquiries, please contact: AgMedica Bioscience Inc., Sengkee Ahn, MBA, Senior Vice President, Corporate Development, P: 1-844-247-4633, E: [email protected]