Vancouver, BC / TNW-ACCESSWIRE / October 2, 2014 /
My Marijuana Canada Inc. (CSE:MYM) (the “Company” or “My Marijuana“) is a listed company on the Canadian Securities Exchange. My Marijuana is currently awaiting Health Canada’s approval of its application for a producer’s license, which was submitted in June 2014, to becoming a producer and distributor of medical marijuana in Canada.
The Company has obtained a list of over 1,300 licensed patients of marijuana as well as the industry expertise of Medicann’s directors, Chris Jackson and Michelle Hackett. In another transaction, the Company purchased an 8 acre parcel of land for a growing facility, which it plans to complete by February 2015. The planned building is a 14,000 sq. ft. state of the art medical marijuana production facility that would handle growing, processing, packaging, storage, distribution and administration. The facility will be capable of producing 5,500 lbs. to 6,000 lbs. of 8 to 12 strains of marijuana annually. The property is capable of handling the Company’s future phase two expansion of up to 120,000 sq. ft. of greenhouse growing operations.
CEO Chris Jackson says Health Canada has been very responsive with the company’s application and is very optimistic about the future of the medical marijuana industry. “We are solely focused on getting the company licensed so we can provide patients safe and easy access to pure pharmaceutical grade medical marijuana.”
The medical marijuana market in Canada is currently in flux following major changes to the governing regulations of the industry. For the first time in history, there is an opportunity for commercial distribution of medical marijuana to be provided to licensed patients across the country. The Company’s assets position itself strongly to capitalize on the recent changes and become a leader in an emerging market.
Based on Health Canada’s continued growth models, it is predicted that there will be 449,984 total licensed users by 2024, creating an estimated market value worth CAD $1.5 – 4.3 billion. The medical marijuana patient list acquired by the Company of over 1300, represents a large percent of the existing registered MMPR patients. The Company seeks to aggressively grow it’s customer base under the MMPR in order to become a dominant player in the Canadian medical marijuana industry.
The Company is also in talks with various parties, exploring other business opportunities that surround the medical marijuana business, that also have impressive growth opportunities.
Appointment of Corporate Secretary
Ms. Sheryl Elsdon has been appointed the corporate secretary for MYM. Ms. Elsdon has worked in the public sector since 2005 and has extensive experience with both exploration companies and office management. She acts as both the office manager for McLeod Williams Capital Corp. and as the in-house Corporate Secretary for each of its public exploration mining companies. She also acts as Corporate Secretary for various other public companies listed on the CSE, TSX and TSX Venture Exchange. Ms. Elsdon worked for Underworld Resources Inc. until its purchase by Kinross Gold Corporation in April, 2010.
About My Marijuana Canada Inc.
My Marijuana Canada is a marijuana company advancing an application to grow and distribute medical marijuana under an MMPR license with Health Canada. My Marijuana Canada’s management team has extensive experience in medical marijuana licensing, production and cultivation. The management also has a long track record of successful company startup experience in emerging markets.
For further information please contact John Bevilacqua – My Marijuana Canada Inc:
Tel: 604-721-3000 Email: firstname.lastname@example.org
ON BEHALF OF THE BOARD
President and CEO
This news release may contain forward-looking statements including but not limited to comments regarding market information and timing of planned projects, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.