KITCHENER, Ontario, Nov. 12, 2019 (GLOBE NEWSWIRE) — James E. Wagner Cultivation Corporation (“JWC” or the “Corporation”) (TSX VENTURE: JWCA; OTCQX: JWCAF), is pleased to announce that on November 1, 2019, it entered into a supply and manufacturing agreement (the “Agreement”) with CannaCure Corporation (“CannaCure”), a wholly-owned subsidiary of Heritage Cannabis Holdings Corp., for the formulation and filling of vape cartridges for Canadian recreational and medical cannabis markets. The Agreement advances JWC’s commitment to become a leader in the production of premium, single origin cannabis extract products in Canada.
Under the Agreement, JWC will provide CannaCure with supporting materials and a minimum of 100kg per month of aeroponically-grown cannabis biomass. CannaCure shall process the delivered biomass into products using their ‘direct to vape’ process, which maintains the natural properties of the cannabis strain, and assures no harmful additives are blended into the oil to be vaped. All formulation, preparation and packaging procedures will be carried out in compliance with applicable regulations. The Agreement with CannaCure has an initial term of twelve months commencing on the effective date of October 31st, 2019.
In preparation of entering into the market to supply vape cartridges containing its quality products, JWC has sourced and is using a manufacturer of quality vape cartridges certified to be free of any heavy metal content. The products introduced by JWC will be of premium quality.
“In a new industry like ours it can be difficult to find experienced operators with a depth of knowledge in their chosen area, which is why JWC is happy to have found in Heritage a skill with extraction and formulation to match our own expertise in cultivation,” said Nathan Woodworth, CEO of James E. Wagner Cultivation. “We are confident that the future success of the cannabis industry will be defined by the collaboration of uniquely situated companies such as Heritage and JWC, who are able to combine unique expertise to produce exceptional results.”
“We are pleased to be working with an industry-leading cultivator that has a proven track record of producing some of the highest quality cannabis on the market,” states Heritage Cannabis CEO Clint Sharples. “We are confident JWC’s unique strains will translate well into premium vape products in the marketplace.”
Pursuant to the Agreement, commercial activities have commenced between both parties. Upon receipt of the initial shipment, CannaCure will perform its obligations under the Agreement through CannaCure’s modern extraction facility in Fort Erie, Ontario.
JWC remains on track to introduce its derivative line of cannabis extract products in the first calendar quarter of 2020.
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.
About Heritage Cannabis Holdings Corp.
Heritage Cannabis Holdings Corp. is a vertically integrated cannabis provider that currently has two Health Canada approved licenced producers, through its subsidiaries Voyage Cannabis Corp. and CannaCure Corp. both regulated under the Cannabis Act Regulations. Working under these two licences, Heritage has two additional subsidiaries, Purefarma Solutions, which provides extraction services, and BriteLife Sciences that is focused on cannabis based medical solutions. Heritage as the parent company, is focused on providing resources for its subsidiaries to advance their products or services to compete both domestically and internationally.
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 production and delivery of cannabis biomass by JWC to CannaCure, the manufacture of vape pens containing JWC’s cannabis extracts, the sale of vape pens containing JWC’s cannabis extracts in the Canadian recreational and medicinal cannabis market and the timing of introduction of cannabis extract products by JWC. 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 and risks associated with growth and competition as well as the risks identified in the Corporation’s Filing Statement 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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