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LONDON, ON, Aug. 13, 2018 /CNW/ - INDIVA Limited (the "Company" or "INDIVA") (TSXV:NDVA) is pleased to announce its wholly-owned subsidiary, Indiva Inc., received its license to sell cannabis. In addition, INDIVA is pleased to report that construction is fully underway at its London, ON growing facility.
INDIVA is now able to sell dried cannabis flowers in accordance with Canada's Access to Cannabis for Medical Purposes Regulation. "We are very excited to be granted our sales license from Health Canada. I would like to thank all of our employees, shareholders and stakeholders for their tireless efforts and dedication," said Niel Marotta, CEO, INDIVA.
INDIVA's cannabis products are expected to be available for purchase at www.indiva.com from the online store to be launched this fall.
Expansion of Licensed Facility Nears 50% Complete
INDIVA commenced construction on the expansion of its London licensed facility in the spring of 2018. INDIVA is now pleased to report that construction is progressing well and is nearly 50% complete. While full completion is expected in Q1 of 2019, additional production capacity is expected to come online in Q4 of 2018 with full production capacity to be reached in 2019.
The fully-funded facility expansion includes eight additional flower rooms, extraction and processing facilities and a laboratory for research, development, testing and tissue culture. INDIVA's current licensed facility is 10,000 square feet, however upon completion of construction it will grow to approximately 40,000 square feet.
At full capacity, INDIVA expects its London facility to produce more than 3,000 kgs of high quality dry flower per year, process tons of cannabis material into oils and other derivative materials upon receipt of applicable regulatory approvals, and to produce consumable products, including Bhang Chocolates and Ruby Cannabis Sugars, when permitted by applicable law.
INDIVA is a Canadian supplier of high quality, medical grade cannabis. INDIVA's strain selection, cultivation and client care processes combine the know-how and experience of an internationally recognized and award-winning grow-team with GMP-compliant quality assurance standard operating procedures.
INDIVA's wholly owned subsidiary is a Licensed Producer under Canada's Access to Cannabis for Medical Purposes Regulation ("ACMPR") with its first indoor cannabis production facility located in London, Ontario.
INDIVA aims to become a global marijuana brand recognized for high quality cannabis products and excellent client care. As marijuana laws liberalize in Canada, INDIVA will expand its product offering to include safe edibles and other client-friendly cannabis products. In addition, as marijuana laws liberalize internationally, INDIVA will use its Canadian operations as a platform to open new markets for its cannabis products.
DISCLAIMER & READER ADVISORY
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the information contained herein and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties' current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to future expansion of INDIVA's facility and anticipated activities to be carried out at such facility, future product offerings and applicable regulatory approvals related thereto, future entry into additional markets, changes to laws and regulations in Canada generally, and specifically with respect to edible cannabis products, and compliance with applicable regulations, including those of the TSX Venture Exchange. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include INDIVA being able to obtain necessary regulatory and other third parties approvals, completion of the expansion of the INDIVA facility, and licensing and other risks associated with regulated ACMPR entities. The forward looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
SOURCE Indiva Limited
For further information: Niel Marotta, CEO, INDIVA: Phone: 613-883-8541, Email: email@example.com; Steve Low, Investor Relations: Phone: 647-620-5101, Email: firstname.lastname@example.org; Susan Mutterback, Public Relations, INDIVA: Phone: 519-649-6686 x227 or 519-854-6144, Email: email@example.com