VICTORIA, BC, March 31, 2015 /CNW/ - T-Bird Pharma Inc. (TSXV:TPI) ("T-Bird" or the "Company"), a pharmaceutical company focused on developing premium quality medical marijuana products and a licensed producer ("LP") to cultivate marijuana under the Marihuana for Medical Purposes Regulations (Canada) ("MMPR"), is pleased to announce that it has received notice from The Corporation of the District of Saanich confirming the final rezoning approval of the Company's premises which now allows for commercial distribution of medical marijuana under the MMPR.
Saanich Council, at their meeting on March 23, 2015, gave final reading and adoption to "ZONING BYLAW, 2003, AMENDMENT BYLAW, 2014, NO.9308" and "ZONING BYLAW, 2003, AMENDMENT BYLAW, 2015, NO. 9309", the effect of which is to add a new definition for medical marihuana production and distribution, and to amend zone M-3 (industrial park) to permit that use on Strata Lot 1, Section 100, Lake District, Plan VIS4905 (Unit 101-4226 Commerce Circle).
"We are excited to have the rezoning of our premises finalized and thankful for the support of Saanich Council, said Dr.Bin Huang, CEO of T-Bird. "This is a significant step as we work towards commercialization and securing a sales license under the MMPR."
About T-Bird and Thunderbird
T-Bird Pharma Inc. is the parent company of Thunderbird Biomedical Inc., a wholly owned private subsidiary formed in January, 2013. The principal activities of Thunderbird are the production of marijuana from its Victoria, British Columbia production facility, as regulated by the Marihuana for Medical Purposes Regulations (Canada). Thunderbird obtained a medical marijuana license to undertake the production of medical marijuana in February 2014, being the fifth company in Canada to obtain such a license. Thunderbird was acquired by T-Bird in September, 2013.
ON BEHALF OF THE BOARD
"David J. Raffa"
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Cautionary Statements Regarding Forward Looking Information
Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are "forward-looking statements".
We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements.
Forward-looking statements include, but are not limited to, statements with respect to commercial operations, including production and sales of medical marijuana, anticipated revenues, projected size of market, quantities of future medical marijuana production, completion of production facilities and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
T-Bird Pharma Inc. (the "Company") does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, results of production and sale activities, the Company's historical experience with medical marijuana operations, uninsured risks, regulatory changes, availability of production facilities, timeliness of government approvals and the granting of permits and licenses, changes in prices, actual operating and financial performance of facilities, equipment and processes relative to specifications and expectations. Actual results may differ materially from those expressed or implied by such forward-looking statements.
SOURCE T-Bird Pharma Inc.
For further information: Kam Thindal at 604-488-9875