November 12, 2019, Vancouver, British Columbia: Asterion Cannabis Inc. (“Asterion” or the “Company”) announces that the Company’s wholly-owned Australian subsidiary (“Asterion Australia”) has submitted its Operational Works permit (the “Operational Works Permit”) application to the Toowoomba Regional Council (the “Council”) to seek approval of certain development activities at the Company’s Toowoomba Medicinal Cannabis project (the “Project”), as part of the final approval process for development of the Project.
The Company recently received the required Development Approval permit (the “DA”) from the Council for the Project (see the Company’s news release dated November 6, 2019
). The DA evidences the Council’s acceptance of Asterion’s proposed design and operational parameters for the intensive horticulture Project, a 75 ha (185 acre) site that includes 400,000 square metres (4.3 million square feet) of glasshouse modules for cannabis processing and cultivation and 108,000 square metres (1.2 million square feet) of auxiliary and processing buildings, along with a world-class medicinal cannabis tissue culture propagation facility, research and quality assurance laboratories and advanced security systems. The total combined square footage of the Company’s facilities at the Project is planned to be 508,000 square metres (5.5 million square feet).
Once the Operational Works Permit is granted, Asterion expects to be in a position to commence site works (the “Site Works”) on the Project. The initial stage of construction will provide local jobs for numerous consultants, contractors and suppliers. The Site Works is also anticipated to produce employment for over 500 people and include important opportunities for training and development.
Asterion’s Chairman and CEO, Stephen Van Deventer stated,
Asterion is a Canadian medicinal cannabis company with operations in Australia. Asterion’s goal is to be a global industry leader in next generation medical cannabis products. Asterion is focused on the future of advanced agriculture and aims to produce the highest quality genetically uniform cannabis strains, at an affordable price.
Asterion is led by a team of highly experienced executives with over 120 years of combined experience in medical cannabis, renewable energy, capital markets, and other highly relevant sectors across North America, Oceania, Europe, Africa and Asia.
On Behalf of the Board of Directors
“Stephen Van Deventer”
Chairman & Chief Executive Officer
For further information, please contact: