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Speakeasy Cannabis Club Ltd
Symbol EASY
Shares Issued 86,916,638
Close 2019-11-25 C$ 0.415
Recent Sedar Documents

Speakeasy submits licence amendment for 60-acre field

2019-11-25 07:05 ET - News Release

Mr. Marc Geen reports

SPEAKEASY ANNOUNCES ITS SUBMISSION FOR AN AMENDMENT TO ITS LICENCE TO INCLUDE ITS 60-ACRE FIELD FOR OUTDOOR CULTIVATION

Speakeasy Cannabis Club Ltd. has submitted an application for amendment to Health Canada in order to add its 60-acre field to the company's licence.

Speakeasy has completed the preparation of its 2.6-million-square-foot (60 acres) field, which will enable the production of approximately 70,000 kilograms of cannabis in 2020. Additionally, the company intends to develop an additional 2.6-million-square-foot facility, increasing its production capacity to approximately 150,000 kg and positioning the company to be one of Canada's largest cannabis producers of extremely low-cost products.

The cost of construction for the outdoor 60-acre field is significantly less than that of industry average greenhouses on a per-square-foot basis. Moreover, Speakeasy, located in Rock Creek, B.C., is part of the renowned Golden Mile in the Okanagan, with the ideal climate for growing cannabis. The long summer and dry harvest season aids in Speakeasy's ability to cultivate outdoor product that is expected to be among lowest cost in the industry. "The large-scale outdoor cultivation, along with Speakeasy's high-quality craft cannabis offerings, positions us to have a dramatic impact on the cannabis sector as a whole, bringing real farming practices to the industry," said Marc Geen, founder of Speakeasy. "Profitably has always been our focus and we, as a company, feel confident in our ability to succeed," Mr. Geen further stated.

About Speakeasy Cannabis Club Ltd.

Speakeasy Cannabis Club is a licensed cultivator and processing company. Speakeasy leverages three generations of farming experience in B.C. to produce high-quality, small-batch cannabis products. The company currently owns 290 acres of land in Rock Creek, B.C. Speakeasy cultivates small-batch, high-quality cannabis in its 10,000-square-foot indoor facility and has recently transformed a 60-acre orchard into an outdoor cultivation area with the intention, upon receipt of the amendment to its current licence to include the outdoor cultivation area, to produce up to approximately 70,000 kg of outdoor, sun-grown flower and biomass per year.

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