Mr. Cam Battley reports
BEDROCAN RECEIVES HEALTH CANADA APPROVAL TO SELL DOMESTICALLY PRODUCED MEDICAL CANNABIS
Bedrocan Cannabis Corp. has received a licence
amendment from Health Canada allowing for the sale of the company's
domestically produced medical cannabis. Bedrocan has been growing six
proprietary genetic strains of standardized cannabis at its new
production facility since February, and eight harvests have been
completed successfully to date. The company can begin immediately
taking orders for sales of its existing inventory.
In addition, Health Canada has also approved eight more growing rooms at
Bedrocan's production facility in the Greater Toronto Area. A total of
26 of 34 production rooms are now licensed, providing for production
capacity of 3,000 kilograms per year.
"We are excited to be able to provide Canadian-grown, standardized
cannabis to our registered patients," said Marc Wayne, president and
chief executive officer. "We have now transitioned our business successfully and on
schedule from our reliance on imported Bedrocan product to managing our
own domestic production to meet the specific needs of our growing
population of medical cannabis patients. We will now focus on expanding
our marketing, medical outreach and education initiatives, emphasizing
the value and advantages of our standardized, pharmaceutical-grade
medical cannabis products."
With the new Health Canada approvals, sales of domestic inventory will
result in an immediate increase in product-related revenue. The company
was previously approved to import a maximum of 240 kilograms per year
of product from its licensor, Bedrocan Beheer BV, via the Dutch Ministry
of Health. Bedrocan is now approved to produce and sell its
Canadian-grown, genetically identical strains of medicinal cannabis,
with production capacity equating to 3,000 kilograms per year.
We seek Safe Harbor.
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