NIAGARA-ON-THE-LAKE, ON, April 29, 2015 /CNW/ - Tweed Marijuana Inc. (Tweed Marijuana) the parent company of licensed marijuana producers Tweed Inc. (Tweed) and Tweed Farms Inc. (Tweed Farms) is pleased to announce that building permits have been issued and infrastructure enhancements have commenced at Tweed Farms' 20-acre property in southwestern Ontario.
The current phase of construction will add 316,000 sq. ft. of cost-effective growing space and a separate 24,000 sq. ft. packaging facility with a storage vault. In the last year cannabis plants have been grown at Tweed Farms using 34,000 sq. ft. of the 350,000 sq. ft. greenhouse.
"Tweed's focus is customer-centric. In a market with a rapidly expanding customer base, the most customer-focused approach you can take is to build a large growing platform that keeps a diverse product line available to customers. The current phase of expansion underway at Tweed Farms will allow us to service additional clients who are choosing cannabis to manage a variety of symptoms," said Bruce Linton, Chairman and CEO of Tweed Marijuana.
Once approved by Health Canada, these enhancements will greatly increase the maximum capacity the Company is capable of producing and add to the consistent, diverse supply of quality cannabis Tweed customers benefit from today. Three additional growing rooms, an in-house lab and a state of the art production area were all recently approved by Health Canada, bringing the total number of indoor growing rooms from nine to 12 at 1 Hershey Drive in Smiths Falls, Ontario. The Company is currently licensed to produce 3500 kg of finished product annually.
Here's to Future Growth.
About Tweed Marijuana Inc.
Tweed Marijuana is Canada's first publicly traded medical marijuana company and the first geographically diversified producer with dual licences under the Marihuana for Medical Purposes Regulations.
Through its wholly owned subsidiaries, Tweed Inc. and Tweed Farms Inc., the Company operates two state-of-the-art production facilities in Ontario and distributes marijuana across the country to Canadian patients managing a host of medical conditions.
The Company is dedicated to educating healthcare practitioners, providing consistent access to high quality medication, and furthering the public's understanding of how marijuana is used for medical purposes.
Notice regarding Forward Looking Statements
This news release contains forward-looking statements including statements about Tweed's future operations. Such statements involve known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from those expressed or implied above. Such forward-looking statements are based on a number of assumptions which may prove to be incorrect, including: the ability to obtain necessary financing; the economy generally; the yield from Tweed's marijuana growing operations; consumer interest in products; competition; regulation and unanticipated costs and delays. Although Tweed has attempted to identify important factors that could cause actual results to differ materially from those described above, there may be other factors that cause results not to be as anticipated. Readers should not place undue reliance on forward-looking statements. Tweed's public disclosure documents available at www.SEDAR.com contain detailed discussion of the risk factors associated with its business. The forward-looking statements included in this news release are made as of the date of this news release and Tweed does not undertake an obligation to update such forward-looking statements unless required by applicable law.
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, Communications Manager, Tweed, [email protected], 613-706-2185 ex 309