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VANCOUVER, July 29, 2019 /CNW/ - SpeakEasy Cannabis Club Ltd. (CSE: EASY) (Frankfurt: 39H) (the "Company" or "SpeakEasy") is pleased to announce that the Company has completed moving its diverse and massive in scale genetics into its facility in anticipation of receiving its cultivation licence in the near future. Fulfilling the requirement of having genetics present in the facility at the time of licensing, SpeakEasy followed Health Canada's Cannabis Regulations to the letter. In addition to following federally mandated Cannabis Regulations, SpeakEasy consulted with provincial and municipal governments, as well, as its local RCMP to ensure proper procedures were followed, prior to any movement of the genetics being completed.
SpeakEasy has accumulated an impressive library of unique genetics from sources outside existing License Holders, that will be used as starting material and are currently secured within the facility. The current genetics catalogue spans the full spectrum, providing the ability to produce a wide range of product grown both indoor and outdoor, as well as, permitting the ability to develop new strains, unique to SpeakEasy. "We believe we have one of the largest genetics libraries in the industry, we are very fortunate to have such incredible partnerships with industry professionals and genetics experts," said Patrick Geen, Head Grower.
Our outdoor cultivation site stands ready to receive starting material, upon granting of our initial cultivation license we plan to immediately submit our evidence package for our outdoor field to amend our license to allow outdoor cultivation area on our 60 acre field. "Going from a cherry orchard, which has laid fallow for years, to a built out outdoor cultivation area ready for growing cannabis in four and a half months has been an incredible achievement, I am so proud of everyone in the SpeakEasy family for their extraordinary efforts and accomplishments," added Bin Huang, CEO.
SpeakEasy is also pleased to announce that it has hired former RCMP officer Grant Bernier. Upon Mr. Bernier's security clearance through Health Canada, he will assume the position of Chief Security Officer. With his appointment, the Company aims to set a new standard in compliance within the industry. Grant will have the authority to preform independent audits within the Company and will have complete autonomy. We believe once this system is in place it will set the standard for compliance in the industry. "We have the utmost confidence that our products will be second to none and we will continue to strive to ensure that it will remain that way. Additionally, it's exciting to know our Company from top to bottom, will become the cornerstone of exemplary industry standards," said Zena Prokosh, SpeakEasy's QAP.
About SpeakEasy Cannabis Club Ltd.:
SpeakEasy is a late stage applicant under the Cannabis Regulations that is seeking to leverage three generations of farming experience in B.C. to produce high quality, small batch cannabis products once it obtains a license to do so. The Company currently owns 290 acres of land in Rock Creek, British Columbia. The Company's 10,000 square foot indoor facility will allow for the growth, production, and cultivation of small batch cannabis if and when the Company obtains a license from Health Canada. Construction has also commenced on an 80,000 square foot expansion facility with completion projected for Q3 2019 along with its 2,613,600 sq ft of outdoor cultivation being developed in anticipation of the 2019 season.
This news release contains statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause SpeakEasy's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Forward-looking statements in this document include statements concerning SpeakEasy's intent to obtain a license under the Cannabis Act, its intent to produce and sell high quality craft cannabis once it receives a cultivation license from Health Canada, its intention to complete construction of its facilities and the timeframe within which the construction of such facilities will be completed, and all other statements that are not statements of historical fact.
Although SpeakEasy believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; adverse industry events; future legislative and regulatory developments involving cannabis; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the cannabis industry in Canada and generally; the demand for cannabis and cannabis related products, the ability of SpeakEasy to implement its business strategies; competition; the ability of SpeakEasy to obtain all applicable licenses under the Cannabis Act and other assumptions, risks and uncertainties.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.