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CALGARY, Nov. 22, 2018 /CNW/ - RMMI Corp. ("RMMI" or the "Company") (CSE: RMMI) announced today that it has filed its financial statements and related management discussion and analysis for the three and nine month periods ended September 30, 2018 under its profile on the SEDAR filing system (www.sedar.com).
In the last few months, RMMI has achieved several significant corporate developments:
- Completed RMMI's initial public offering of 1,765,700 common shares of RMMI at a price of $2.50 per common share for gross proceeds of approximately $4.4 million;
- Commenced trading on the Canadian Securities Exchange under the symbol "RMMI";
- Entered into a supply agreement with Namaste Technologies Inc.'s wholly-owned subsidiary Cannmart Inc. ("Cannmart"), whereby Cannmart will purchase medical cannabis from RMMI to offer in its online medical-cannabis marketplace;
- Filed an annual information form;
- Completed the Company's first hemp cultivation to collect valuable information including nutrient and pH requirements at different stages of growth and work on standardisation of environmental conditions such as temperature, humidity, lighting, electroconductivity of the nutrient-water mix, and other factors; and
- Transitioned the Company's application to become a licensed producer to the new Cannabis Act (Canada) Cannabis Tracking and Licensing System.
RMMI has made significant achievements to its long-term strategy over the last few months and will continue to execute its business plan to produce the highest organic-quality cannabis products by "Blending Science with Nature".
About RMMI Corp.
RMMI is an Alberta based company that focuses on the production, cultivation and sale of medical marijuana in various forms. RMMI, through its wholly-owned subsidiary, Rocky Mountain Marijuana Inc. ("Rocky Mountain"), is a late stage applicant under the Cannabis Act (Canada) and is in the process of obtaining the requisite license to commence cannabis production and operations. Rocky Mountain blends science with nature using aeroponic cultivation and CO2 extraction, and intends to produce high-purity, organic-quality cannabis oils. RMMI's team will employ leading commercially-available science and technology to maximize production yields and product quality as a low-cost producer, while reducing risk to its crops and its business.
For more information about RMMI, please visit www.rmmi.ca
Forward Looking Statements
Certain statements contained in this news release constitute "forward-looking statements" or "forward-looking information" within the meaning of the applicable securities legislation (collectively, "forward-looking statements"). These statements relate to management's expectations about future events, results of operations and RMMI's future performance (both operational and financial) and business prospects. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. Unless otherwise indicated, these statements speak only as of the date of this news release. In particular, this news release contains forward-looking statements pertaining RMMI's future business plans.
Forward-looking statements are based on certain assumptions and analyses made by RMMI in light of the experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate and are subject to risks and uncertainties. In making the forward-looking statements, RMMI has made various material assumptions, including but not limited to, receipt of applicable regulatory licences from Health Canada, material assumptions relating to general business and economic conditions and RMMI's ability to successfully execute its business plans strategy. Although RMMI believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and RMMI cannot assure that actual results will be consistent with the forward-looking statements included in this news release. Given these risks, uncertainties and assumptions, readers should not place undue reliance on the forward-looking statements in this news release and should review the various risk factors set forth in RMMI's AIF dated October 10, 2018.
The forward-looking statements included in this news release are expressly qualified by this cautionary statement and, except as otherwise indicated, are made as of the date of this news release. RMMI does not undertake any obligation to publicly update or revise any forward-looking statements or departures from them except as required by applicable securities laws. All of the forward-looking statements contained in this news release are expressly qualified by the foregoing cautionary statements.
For further information: Earl Connors, President and Chief Executive Officer; Investor Relations Contact: George Jurcic, Director of Corporate Development, [email protected], 403-930-7079