VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/20/17 -- Cannabis Wheaton Income Corp. (TSX VENTURE: CBW) ("Cannabis Wheaton", "CW", or the "Company") is pleased to feature its partner 2368523 Ontario Limited (d/b/a Curative Cannabis) ("Curative"). Curative has applied to become a licensed producer pursuant to the Access to Cannabis for Medical Purposes Regulations ("ACMPR") with its proposed facility in Chatham-Kent, Ontario (the "Facility").
Curative's Facility will be purpose built for cannabis cultivation and has been designed by the expert team from Cascadia AC. Cascadia has emerged as one of the leading design and build firms in the Canadian cannabis industry and has worked on several ACMPR facilities across Canada, including leading the design and build out of the environmental control systems at Broken Coast's facility in British Columbia. The Facility is anticipated to have an initial footprint of 21,000 sq. ft. However, Curative owns an option to purchase the neighboring 33.09 acres of land thereby allowing Curative the option to expand its Facility up to 800,000 sq. ft., subject to market demand and regulatory approval.
Apart from the strength of the Facility and the ease with which it can be expanded, Curative also enjoys other competitive advantages.
1. Curative has developed a strong relationship with the municipality of Chatman-Kent and Curative's principals have assisted the municipality in developing site specific policies regarding cannabis production and related zoning matters. 2. Curative's principals have long standing relationships and significant experience in the regulated cannabis industry through their work in patient education and outreach, cannabis breeding and cultivation consultation, as well as branding and white labeling. They have worked in collaboration with many licensed producers in optimizing cultivation techniques and improving patient outreach. 3. Curative has an extensive library of cannabis genetics, all of which were transferred to several licensed producers during the transition phase of the Marihuana for Medical Purposes Regulations. These are highly sought after cannabis genetics which have been standardized and validated within the regulated environment of the ACMPR.
Chuck Rifici, Chairman and CEO of Cannabis Wheaton noted, "We are very excited to work with the talented team from Curative Cannabis. They are some of the most knowledgeable and innovative cannabis entrepreneurs in the industry. We consider Curative to be a strong strategic partner with great leadership and excellent potential for further expansion. Curative brings valuable expertise to our platform that we believe will ultimately benefit Cannabis Wheaton and all of our streaming partners".
Ian Rapsey, Chief Creative Officer of Cannabis Wheaton commented, "I am looking forward to collaborating with industry pioneers such as Curative's management team. They have successfully created brands and patient outreach programs and we want to help them leverage that experience to build Curative into a top-tier licensed producer with incredible brand awareness and value for the industry".
ON BEHALF OF THE BOARD
Chuck Rifici, Chairman & CEO
About Cannabis Wheaton Income Corp. (TSX VENTURE: CBW)
Backed by a team of industry experts, Cannabis Wheaton is the first cannabis streaming company in the world. Our streams will include production from across Canada coming from our partners comprised of licensed producers of cannabis (LP) and LP applicants. Cannabis Wheaton's mandate is to facilitate real growth for our streaming partners by providing them with financial support and sharing our collective industry experience.
For more information about Cannabis Wheaton and our management team, please visit: http://www.cannabiswheaton.com, or follow us on Twitter @CannabisWheaton. Call: 1-604 687 7130 Email: Mario@skanderbegcapital.com http://www.skanderbegcapital.com.
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities law. Forward-looking information is frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or information that certain events or conditions "may" or "will" occur. This information is only a prediction. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking information throughout this news release. Forward-looking information includes, but is not limited to: entering into definitive streaming agreements, the ability to generate revenue through the streaming agreements, the ability to consummate transactions which are currently in discussions, requirements to obtain additional financing, timeliness of government approvals for granting of permits and licences, including licences to cultivate cannabis, completion of the facilities, where applicable, actual operating performance of the facilities, regulatory or political change, competition and other risks affecting the Company in particular and the medical cannabis industry generally. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
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