Lotus Ventures Obtains Cannabis Act Licenses from Health Canada
VANCOUVER, March 11, 2019 /CNW/ - Lotus Ventures Inc. (the "Company" or "Lotus") (CSE: J) (Frankfurt: LV9) is pleased to announce that it has obtained a "Standard Cultivation" licence and a "Sale for Medical Purposes" licence pursuant to the Cannabis Act and Cannabis Regulations. The licences give Lotus the ability to begin cultivation at its fully constructed 22,500 square-foot, indoor, purpose-built facility in Armstrong, British Columbia.
The Company reached this significant milestone with dedication from its management team, consultants, and strategic partner, Auxly Cannabis Group Inc. The Company is excited to commence cultivation of high-quality cannabis from the state-of-the-art facility and add value to shareholders.
ON BEHALF OF THE BOARD
Lotus Ventures Inc.
Dale McClanaghan, President and CEO
Lotus is licensed producer under the Cannabis Act. The unique business model combines an upstream royalty financing model with Auxly and a downstream licensing model with farmer/grower partners using Lotus technology and intellectual property. The first facility in Spallumcheen, B.C. is a purpose built, "state of the art" indoor facility with proprietary processes.
SOURCE Lotus Ventures Inc.