Mr. John Gamble reports
ENERDYNAMIC HYBRID TECHNOLOGIES - COMPLETION OF THE BUILDING OF EHT MICRO-GROW AT NIAGARA FALLS FACILITY
Enerdynamic Hybrid Technologies Corp. (EHT) has completed its new microgrow cannabis facility at its Niagara Falls location, as previously announced on Sept. 24, 2019.
The facility will serve two purposes: (1) to showcase EHT's technology for building microgrow units for customers to come and view the merits and characteristics thereof; and (2) to allow EHT to grow up to 600 kilograms (kg) of medical-grade cannabis for sale to customers.
EHT will now apply for a microgrow licence from the government of Canada to initiate the growing process. EHT anticipates the licence will take from 90 to 120 days to receive. Revenues from the facility would be expected in the second/third quarter of 2020. According to the Canada Cannabis Spot Index (CCSI), the current average selling price of medical-grade cannabis in the last week was $6.29 per gram ($6,290 per kilogram). Based on EHT's costing models, it will have average production costs of approximately only 50 cents per gram, which is significantly lower than the industry average cost of $1.58 per gram. This cost reduction is due to EHT's superior technology from Growratio Lighting and Controls, the ENERTEC grow rooms and being able to run the facility off grid.
EHT's chief executive officer, John Gamble, commented: "This is a very important step for our company; not only does it help to show off our leading-edge technology, but it will give EHT very stable revenue for the future. We will be incorporating our new solar panel technology into the facility and our leading-edge battery and inverter technology from our partner, Alpha-Outback Technologies." Mr. Gamble went on to say: "I am extremely disappointed in comments being posted on chat rooms that depict our company in negative ways. We have disruptive technology that takes time to put into the mainstream. We welcome our shareholder base to come to our Niagara facility for a tour and see our promising valuable technology for themselves."
About Enerdynamic Hybrid Technologies Corp.
EHT delivers proprietary, turn-key energy solutions which are intelligent, bankable and sustainable. EHT's expertise includes the development of its ENERTEC module structures with full integration of smart energy solutions.
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