VANCOUVER, British Columbia, Oct. 13, 2017 (GLOBE NEWSWIRE) -- Harvest One Cannabis Inc. (TSXV:HVST) (" Harvest One " or the " Company ") through its wholly owned subsidiary United Greeneries Ltd. ("United Greeneries") is pleased to announce that it has received the amendment to sell dried marijuana to registered patients by Health Canada under the Access to Cannabis for Medical Purposes Regulations ("ACMPR").
United Greeneries has previously received the authorization to cultivate cannabis under the ACMPR in June 2016 and commenced growing operations in December 2016, after the successful importation of 32 commercial cannabis varieties from Europe.
United Greeneries currently has 220kg of dried cannabis buds in storage for immediate sale and has a strategic wholesale agreement with CannTrust Holdings Inc. (CSE:TRST) in place for the first year of its production, while the Company is setting up a distribution platform for the recreational cannabis market in Canada.
Andreas Gedeon, Managing Director and CEO, commented:
“The authorisation to sell under the ACMPR was the final and crucial missing piece for United Greeneries on the regulatory pathway to becoming a fully licensed producer under the ACMPR. With operations in place, immediate revenue secured and expansion in progress, management can now focus on the go forward strategy to manifest Harvest One as a leading player in the international cannabis industry.”
About Harvest One Cannabis Inc. (TSX.V: HVST)
Harvest One controls operations across the entire cannabis value chain through three business units, with Harvest One serving as the umbrella company over horticultural arm United Greeneries and medical arm Satipharm AG. Each business is strategically located in favourable jurisdictions with supportive regulatory frameworks in place. United Greeneries has received a Canadian medicinal cannabis cultivation license, making Harvest One one of only a few companies globally with the capacity to commercially cultivate cannabis in a federally regulated environment.
For more information about Harvest One, please contact:
Colin Clancy Communications + 1 (778) 855-2408 cclancy@mmj.ca
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The forward-looking information contained in this press release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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