In the news release, Tweed Marijuana Inc. finalizes mortgage funding for Tweed Farms, issued 10-Nov-2014 by Tweed Marijuana Inc. over CNW, the company advises that the second paragraph, second sentence, should read "7-year amortization" rather than "25-year amortization". The complete, corrected release follows:
Tweed Marijuana Inc. finalizes mortgage funding for Tweed Farms
SMITHS FALLS, ON, Nov. 10, 2014 /CNW/ - Tweed Marijuana Inc. ("Tweed" or "the Company") has obtained a mortgage on Tweed Farms Inc., the recently acquired greenhouse facility and surrounding property located at 453 Concession #5 Rd, Niagara-on-the-Lake, Ontario.
The mortgage was entered into with a leading Canadian financial institution. The terms and funding, finalized on Nov. 7th 2014, are as follows: $1,875,000, 7-year amortization, with a 5-year fixed annual interest rate of 5.3%.
This mortgage agreement solidifies Tweed as a member of the business community in Niagara-on-the-Lake and strengthens the Company's ongoing strategy of geographic diversity and the high scale, low-cost production of premium medical marijuana.
The first harvest from Tweed Farms has arrived at Tweed's state-of-the-art facility in Smiths Falls, Ontario for processing. Tweed's largest harvest to date will be available to customers shortly.
Notice regarding Forward Looking Statements
This news release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Tweed Marijuana Inc. or Tweed Inc. to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Examples of such statements include: (A) predictions of future demand; (B) plans to increase capital expenditure and construction related expenses; (C) anticipated production yields; (D) completion of construction and availability of new production rooms; and (E) forecasted available product selection. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Such forward-looking statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to: the ability to obtain any necessary financing; the economy generally; the yield from Tweed's marijuana growing operations; consumer interest in products; competition; regulation and anticipated and unanticipated costs and delays. Although Tweed Marijuana Inc. 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 not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The factors identified above are not intended to represent a complete list of the factors that could affect Tweed Marijuana Inc. or Tweed Inc. Additional factors are noted under "Part IV - Description of Risk Factors Associated with the Acquisition" in the Filing Statement of Tweed Marijuana Inc. dated as of June 30, 2014 and available at www.SEDAR.com. The forward-looking statements included in this news release are made as of the date of this news release and Tweed Marijuana Inc. does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.
About Tweed Marijuana Inc
Tweed Marijuana Inc. is a TSX Venture Exchange listed company. Its wholly owned subsidiaries Tweed Inc. and Tweed Farms Inc. (formerly Prime1 Construction Services Corp.) are licensed producers of medical marijuana in Canada. The principal activities of Tweed are the production and sale of marijuana through its wholly owned subsidiaries out of Tweed Inc.'s facility in Smiths Falls, Ontario and Tweed Farms Inc.'s facility in Niagara-on-the-Lake, Ontario as regulated by the Marihuana for Medical Purposes Regulations.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Tweed Marijuana Inc.
For further information: Jordan Sinclair, Media and Communications, [email protected], 613-706-2185 ex 309, www.Tweed.com, Twitter: @tweedinc,