MJardin Announces Nova Scotia Mi’kmaq First Nations Joining its AMI Partnership
TORONTO and DENVER, April 01, 2019 (GLOBE NEWSWIRE) -- MJardin Group, Inc. (“MJardin” or “the Company”) (CSE: MJAR) (OTCQX: MJARF), a leader in cannabis production, is pleased to announce the completion of an Agreement (the “Agreement”), whereby the Nova Scotia Mi’kmaq First Nations (“Mi’kmaq”) will own a 51% stake in AtlantiCann Medical Inc. (“AMI”). As a result of the Agreement, MJardin and the Halef Group will own 39% and 10% of AMI, respectively. In connection with the partnership formed under the Agreement, MJardin, the Mi’kmaq and the Halef Group are contemplating expansion of their relationship, including retail.
Located in Halifax, Nova Scotia, AMI is a licensed joint venture cultivator with a 48,000 square foot facility with a production capacity of 6,000 kg per year (Phase 1), and an additional 20,000 square feet (Phase 2) expected by the end of 2019 which is anticipated to double AMI’s production capacity. AMI has been built to GMP standards and is presently undertaking the GMP certification process, anticipated to be complete in the second half of 2019. AMI is also in the application process for a sales license with Health Canada which is anticipated to be granted by the end of September, 2019.
We are very pleased with the level of commitment from the Mi’kmaq First Nations in the AMI partnership and the strategic value this brings to MJardin
noted Adrian Montgomery, Chair of the board of MJardin Group.
AMI is an important asset as part of MJardin’s growth strategy as we continue our focus on ramping up sales and furthering our footprint and production assets across Canada
MJardin is a global cannabis management platform with extensive experience in cultivation, processing, distribution and retail. For over 10 years, MJardin has refined cultivation methodologies, developed state of the art facilities and implemented vertical integration for and on behalf of license owners. MJardin is based in Denver, Colorado and Toronto, Canada . For more information, please visit www.mjardin.com.
The CSE has not in any way passed upon the merits of and has neither approved nor disapproved the contents of this news release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
This news release contains forward-looking information based on current expectations. Statements about, among other things, future developments and the business and operations of MJardin, future arrangements with either the Halef Group or the Mi’kmaq, trading of MJardin’s shares on the OTCQX Best Market, the receipt of any pending regulatory approvals or licenses, the growth of or global footprint and our intentions to leverage our scale for continued organic growth and to pursue strategic investments are all forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such factors include, but are not limited to: our ability to identify and pursue growth, financing and other strategic objectives, and the regulatory and economic environments in the jurisdictions we operate or intend to operate or investment in. Although such statements are based on management’s reasonable assumptions at the date such statements are made, there can be no assurance that the proposed acquisition will occur and that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on the forward-looking information. MJardin assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.