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VANCOUVER, Feb. 11, 2019 /CNW/ - Lotus Ventures Inc. (the "Company" or "Lotus") (CSE: J) (Frankfurt: LV9) announced today that it has reached a major milestone by submitting its Cannabis License Evidence Package to Health Canada. The Company has constructed its state-of-the-art indoor production facility, located in BC's Okanagan valley, to comply with the regulations under the Cannabis Act, and now awaits a license from Health Canada to cultivate. Once licensed, Lotus will commence cultivation from its climate-controlled facility, utilizing the talents of their lead growers. The team has deep roots in the BC cannabis community, which will give Lotus the ability to consistently produce some of the best quality cannabis available.
Lotus would like to thank everyone who has contributed to this project so far, including builders, suppliers and local officials. "We look forward to the next catalysts throughout the year as we obtain our licenses, ramp-up production, build new facilities, and launch our retail brand" said Dale McClanaghan, CEO.
The Company wishes to thank its shareholders for their patience over these many years, and we look forward to sharing our successes with you, as we take our place in this disruptive new industry.
ON BEHALF OF THE BOARD
Lotus Ventures Inc.
Dale McClanaghan, President and CEO
About Lotus Ventures, Inc.
Lotus is a late stage licensed producer applicant under the Cannabis Act, in active review with Health Canada. The unique business model combines an upstream royalty financing model with Auxly and a downstream licensing model with farmer/grower partners using Lotus technology and intellectual property. The first facility in Spallumcheen, B.C. is a purpose built, "state of the art" indoor facility with proprietary processes.
SOURCE Lotus Ventures Inc.
For further information: Dale McClanaghan: email@example.com, (604) 644-9844, or Daniel McRobert, Investor Relations, firstname.lastname@example.org (604) 842-4625