/NOT FOR DISTRIBUTION TO UNITED STATES 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./
CALGARY, Aug. 27, 2019 /CNW/ - RMMI Corp.'s ("RMMI" or the "Company"), (CSE: RMMI) wholly-owned subsidiary Rocky Mountain Marijuana Inc. ("Rocky Mountain") is pleased to advise that it provided a detailed response to a number of clarification and confirmation questions from Health Canada, in relation to its Site Evidence Package ("SEP"), which was submitted on July 10, 2019. The receipt of these detailed questions from Health Canada is a clear confirmation that an agent has been assigned to process Rocky Mountain's license application. The Company is encouraged by the expediency of this event, which occurred 35 days following Health Canada's receipt of Rocky Mountain's SEP. The Company anticipates receipt of its Licence to Produce within the next 45 business days.
RMMI continues to advance its non-brokered offering of 12% unsecured Convertible Debenture Units (the "Units" or "Unit") of RMMI at $1,000 per Unit (the "Offering"). The Offering is intended to provide the Company with additional capital to complete its Newell facility renovations by adding cultivation rooms and aeroponic equipment and for working capital and general corporate purposes. The Company would refer readers to RMMI's press release dated August 6, 2019 for more details on the terms of the Convertible Debenture Units.
For more information on our facility and its technology, please visit: www.rmmi.ca
About RMMI Corp.
RMMI is an Alberta based company that focuses on the production, cultivation and sale of marijuana in various forms. RMMI, through its wholly owned subsidiary, Rocky Mountain, is a late stage applicant under the Cannabis Act (Canada) and is in the process of obtaining its 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 and 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.
Follow our Corporate Updates on Facebook at www.facebook.com/RMMICorp/ and on Twitter and Instagram at @RMMICorp.
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, Newell facility renovations and its expected completion date, the ability to successfully supply products that meet high quality standards and expected volumes and the optimum operation of the facility once completed.
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 February 28, 2019.
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: Contact Information: Earl Connors, President and Chief Executive Officer; Investor Relations Contact: George Jurcic, Director of Corporate Development, [email protected], 403-930-7079