KITCHENER, Ontario, July 02, 2019 (GLOBE NEWSWIRE) — James E. Wagner Cultivation Corporation (“JWC” or the “Corporation”) (TSX VENTURE: JWCA; OTCQX: JWCAF), is pleased to announce that on June 28, 2019, it received approval of a licence amendment from Health Canada, permitting it to grow cannabis in additional flowering rooms at the Corporation’s flagship facility, JWC 2, located at 530 Manitou Drive in Kitchener, Ontario. The newly approved flowering rooms will add approximately 11,000 sq. ft., resulting in a total of nearly 22,000 sq. ft. of flowering space at JWC 2.
Reacting to the Corporation’s latest approval from Health Canada, President & Chief Executive Officer, Nathan Woodworth commented, “The approval of this new space represents a significant step in the continuing journey toward full scale production at JWC 2. Our team is excited to begin cultivation in our new spaces; we are already preparing plants to move into these new rooms. The crops harvested from our Phase 2 rooms will allow us to supply a much wider market than was previously possible.”
The additional flowering rooms approved by Health Canada are the result of the previously press released Phase 2 construction of JWC 2. At full-scale, JWC 2 will measure 345,000 sq. ft. and is expected to be fully equipped with the Corporation’s GrowthSTORM™ Dual Droplet™ System. The proprietary GrowthSTORM™ Dual Droplet™ System is a cultivation system that uses two separate nutrient solutions, delivered to the plant’s root system through two distinct channels, all housed within a single enclosure.
The JWC team has already completed a variety of preparations designed to populate the new Phase 2 flowering rooms with plants shortly after receiving this Health Canada approval. Unlike the Corporation’s existing flowering room floor plan employed in the Pre-Phase 2 space (the “Phase 1 Space”), which consists of 8 flowering rooms, the new Phase 2 area features 2 flowering rooms in total, each of which is roughly 4 times larger in size than each of the existing flowering rooms. While the total size of the new Phase 2 area is comparable to the Phase 1 Space, JWC expects this modified division of space has the potential to maximize yields without sacrificing operational integrity, as well as increase the total amount of usable floor space.
JWC – Clean. Consistent. Aeroponic.
About James E. Wagner Cultivation Corporation
JWC’s wholly-owned subsidiary is a Licensed Producer under the Cannabis Regulations, formerly the Access to Cannabis for Medical Purposes Regulations (“ACMPR”). JWC is a premium cannabis brand, focusing on producing clean, consistent cannabis. JWC uses an advanced and proprietary Dual Droplet™ aeroponic platform named GrowthSTORM™. JWC was founded as a family company and is based on family values. JWC began as a collective of patients and growers under the Marihuana Medical Access Regulations (the precursor to ACMPR). Since its inception, JWC has remained focused on providing the best possible patient experience. JWC’s operations are based in Kitchener, Ontario. Learn more at www.jwc.ca.
Notice regarding forward-looking statements:
This press release contains statements including forward-looking information for purposes of applicable securities laws (“forward-looking statements”) about JWC and its business and operations which include, among other things, statements regarding the use and anticipated yields of product from the additional cultivation space, the benefits of the future deployment of larger flowering rooms, the anticipated equipment to be used in Phase 2, timing for population of the Phase 2 space and the anticipated ability to supply a much wider market on the basis of the crops from the Phase 2 rooms. The forward-looking statements can be identified by the use of such words as “will”, “expected”, “approximately”, “may”, “could”, “would” or similar words and phrases. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those implied in the forward-looking statements. For example, risks include risks regarding the cannabis industry, economic factors, the equity markets generally, building permit related risks, technology-related risks, risks related to crop production, useable area and risks associated with growth and competition as well as the risks identified in the Corporation’s Annual Information Form dated April 3, 2019 available under the Corporation’s profile at www.sedar.com. Although JWC has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release and are based on current assumptions which management believes to be reasonable. The Corporation disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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