15 Sep, 2021, 09:00 ET
NORFOLK COUNTY, ON, Sept. 15, 2021 /CNW/ - Target Group Inc. (OTCQB: CBDY) is pleased to announce that its wholly owned subsidiary, Canary Rx Inc. ("Canary" or the "Company") has received its Health Canada sales license.
Under its Sales License, Canary RX is now authorized to manufacture and sell Cannabis product's directly to provincial distributors and other authorized Canadian retail supply channels, permitting the organization to execute on its future CPG strategy of bringing high-quality, strategically segmented consumer brands to market as well as providing third-party processing and co-packing services on behalf of other licensed white-label partners.
Canary RX, through its joint venture partnership, Venn Cannabis, has been working meticulously to ensure production of ultra-premium, craft cannabis in its Simcoe, Ontario production facility. This will ultimately enable delivery of its unique genetic offerings and provide a strong platform for other retail brands in the market to build a portfolio of whole flower consumer products. The company has already successfully transacted with several additional licenced producers and is very optimistic that over the next 12-18 months, can establish itself as a leader in contract-based craft cultivation at scale within the Canadian cannabis landscape.
"This is an important and significant milestone for us completing another licensing certification required to execute on our commercial strategy. Receiving the sales license at our Simcoe, Ontario facility is tremendously positive news for Canary RX and VENN, our joint-venture with Thrive Cannabis," said Tony Zarcone, CEO of Target Group & Canary RX Inc.
About Canary Rx Inc.
Canary Rx Inc. ("Canary") is a Licensed Producer under the Cannabis Act. Situated in Ontario's Garden, Norfolk County, Canary lies nestled amongst the shores of Lake Erie in a vibrant, agricultural community. Our 44,000 sq. ft. facility is engineered to meet strict quality standards and equipped with the latest environmental control technology. The production space includes eight separate craft flower rooms, projected to produce up to 4,500kg of cannabis annually. Canary's talented team will cultivate premium, craft cannabis, while aligning with distinguished, craft-focused consumer brands to bring the highest quality product to market. www.canaryrx.com
About Target Group Inc. (CBDY) – Target Group Inc. ("Target Group" or the "Company") is a progressive, diversified, and vertically integrated cannabis acquisition company. Target Group is curating an iconic brand portfolio, leveraging product diversification, innovation, and operational expertise to solidify long-term growth and stability. The Company owns and operates Canary RX Inc, a Health Canada licensed producer under The Cannabis Act (Bill C-45), and CannaKorp, makers of the pod-based Wisp™ Vapor technology. Target Group is expanding its global operations to build an international network of manufacturing, distribution, production, and sales operations. www.targetgroupinc.ca
Forward-Looking Statements Disclaimer: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.
SOURCE Target Group Inc.
For further information: Tony Zarcone, Chief Executive Officer, 905-541-3833, [email protected]
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