/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, June 4, 2018 /CNW/ - Speakeasy Cannabis Club Ltd. (CSE: EASY) (Frankfurt: 39H) (the "Company" or "SpeakEasy") a late stage ACMPR applicant is pleased to announce it has completed the building site in preparation for the erection of the 80,000 square feet phase 2 expansion. The completion is running ahead of schedule and construction will begin imminently. Additionally, the company is in the process of completing the purchase of the greenhouses that will play a vital role in fulfilling the supply agreement with Valens GroWorks Corp. announced May 15, 2017.
The company is also pleased to have secured 7 megawatts of power from Fortis at its Rock Creek facility. "Our relationship with Fortis along with our strategic location have made this major power upgrade possible," states Marc Geen.
"We are pleased to be ahead of schedule with the construction of our phase 2 expansion at Rock Creek. This goes hand in hand with our corporate vision of being a leader in premium indoor cannabis. We anticipate having the first section of the project completed and ready for Health Canada inspection by the beginning of September 2018 following our cultivation license," states CEO Marc Geen.
"By combining our greenhouse facility with our phase two expansion that includes our state of the art extraction lab, we look to have a fully vertically integrated product line that is not only of high quality, while maintaining low cost production. Comparing it with any other agricultural product it's the companies that refine their own products that have better margins," states director Anthony Jackson.
ON BEHALF OF SPEAKEASY CANNABIS CLUB LTD.
(signed) "Marc Geen"
Chief Executive Officer
Not for distribution to United States wire services or dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.
Statements about the Target's future facility expansion plans or ACMPR license application are all forward-looking information.
Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include failure to obtain regulatory approval, the continued availability of capital and financing, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.
Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE SpeakEasy Cannabis Club Ltd.
For further information: Speakeasy Cannabis Club Ltd., www.speakeasygrowers.com, Telephone: 1-250-449-1773