TORONTO, April 3, 2019 /PRNewswire/ – SOL Global Investments Corp. (“SOL Global” or the “Company”) (CSE: SOL) (OTCQB: SOLCF) (Frankfurt: 9SB) is pleased to announce that 3 Boys Farms, LLC (“3 Boys Farm”), which owns and operates one of the fourteen medical marijuana treatment center licenses in Florida, has received approval from the State of Florida’s Department of Health, Office of Medical Marijuana Use (“OMMU”) to begin processing and dispensing cannabis products at its new state-of-the-art extraction and processing facility in Indiantown, Florida. SOL Global is in the process of acquiring 3 Boys Farms through its previously announced acquisition of CannCure Investments Inc. (“Canncure”) pursuant to a binding share purchase agreement. Closing of the acquisition is expected to occur within the next week and remains subject to a number of closing conditions including receipt of all necessary corporate approvals, however SOL Global has already been approved to acquire and own Canncure and 3 Boys Farms by the OMMU.
Accordingly, 3 Boys Farms has dispensed its first approved cannabis product – a 300mg low-THC cannabis vaporizer pen – to its first qualified patient in Florida. The OMMU has authorized 3 Boys Farms to dispense said vaporizer pen products via delivery to qualified patients throughout the state, and the first delivery to a qualified patient was made on April 1, 2019.
3 Boys Farms has also sought approval from the OMMU to begin dispensing its other premium cannabis flower products to Florida’s patients, including its “Cathy’s Choice” flower line. “Cathy’s Choice” flower was developed in part by (and is named in honor of) Parrish, Florida resident Catherine Jordan, the renowned medical cannabis activist who was diagnosed with Amyotrophic Lateral Sclerosis (ALS) in 1986 and became among the most dedicated and outspoken advocates both in Florida and throughout the country for patients wishing to access medical cannabis. 3 Boys Farms holds the exclusive right via a binding licensing agreement to cultivate and dispense “Cathy’s Choice” flower.
Concurrent with this announcement, SOL Global is pleased to announce that 3 Boys Farm’s brand new, state-of-the-art GMP-certified processing and extraction facility in Indiantown, Florida has commenced full operations. 3 Boys Farm’s processing facility is part of a newly designed 33-acre site in Indiantown that will also house a 50,000 square-foot greenhouse and a 64,000 square-foot indoor cultivation, processing, and manufacturing facility. The site is strategically located less than 90 miles from South Florida, which is poised to become one of the largest cannabis markets in the state. The commencement of operations in the new greenhouse or indoor cultivation, processing and manufacturing facility remains subject to the receipt of all required governmental approvals from the Florida Department of Health, Office of Medical Marijuana Use.
3 Boys Farm’s current approved cultivation facility in Ruskin, Florida produces approximately 350 pounds of dried cannabis flower product per month.
About SOL Global Investments Corp.
SOL Global is an international investment company with a focus on, but not limited to, cannabis and cannabis related companies in legal U.S. states, the hemp and CBD marketplaces and the emerging European cannabis and hemp marketplaces. Its strategic investments and partnerships across cultivation, distribution and retail complement the company’s R&D program with the University of Miami. It is this comprehensive approach that is positioning SOL Global as a future frontrunner in the United States’ medical cannabis industry.
Cautionary Statements
This press release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.
By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, but are not limited to: the Company’s ability to comply with all applicable governmental regulations in a highly regulated business; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US federal laws; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; inconsistent public opinion and perception regarding the medical-use and adult-use marijuana industry; and regulatory or political change. Additional risk factors can also be found in the Company’s current MD&A and annual information form, both of which have been filed on SEDAR and can be accessed at www.sedar.com.
Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
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