SMITHS FALLS, ON, Jan. 5, 2015 /CNW/ - Tweed Marijuana Inc.
("Tweed" or "the Company") is pleased to announce that its wholly
owned subsidiary Tweed Farms Inc. ("Tweed Farms") has obtained a
license renewal for the cultivation of medical marijuana at its
facility in Niagara-on-the-Lake,
Ontario.
The license is valid through December
31st, 2015 and will allow the Company to
cultivate up to 11,500 cannabis plants at its greenhouse facility.
Currently, plants grown in the natural environment of the
Niagara sun, are then transferred to the Tweed Inc. Smiths Falls state-of-the-art facility where
they are harvested, manicured, cured and tested before final sale
to customers. Tweed Farms plans to establish capacity to harvest
and store dried product on site in 2015.
"The extension is timely, coming only weeks after we released
our first greenhouse grown product to customers," said Bruce Linton, Chairman and Co-founder of
Tweed. "We have already learned so much from the initial grow
cycle at Tweed Farms and applied that knowledge to our second
growing cycle that's growing now. We will continue to refine the
model of greenhouse and indoor growth to ensure an optimal model of
low cost, high yield, and top quality production."
The closing weeks of 2014 saw additional milestones for Tweed.
The Tweed Inc. online shop has an industry-leading nine
strains available for sale to customers, the waiting list for
registration has been eliminated to ensure timely access to
medicine, and even with the shortened month, due to the holiday
season, Tweed's December revenue exceeded the $316,117 of revenue reported in the last quarter.
With nine flowering rooms in operation and a further three
awaiting Health Canada inspection, continuous harvesting and
product release have now been achieved, supporting streamlined
operations and customer supply.
From Customer Care Team to Growers, to Medical Outreach Team to
Trimmers, the team at Tweed wishes to thank its customers,
investors and stakeholders for all of their support in 2014.
We look forward to growing together in 2015.
Here's to Future Growth.
Notice regarding Forward Looking Statements
This news release contains forward-looking statements.
Often, but not always, forward-looking statements can be identified
by the use of words such as "plans", "expects" or "does not
expect", "is expected", "estimates", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be
achieved. Forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Tweed Marijuana
Inc. or Tweed Inc. to be materially different from any future
results, performance or achievements expressed or implied by the
forward-looking statements. Examples of such statements include:
(A) predictions of future demand; (B) plans to increase capital
expenditure and construction related expenses; (C) anticipated
production yields; (D) completion of construction and availability
of new production rooms; and (E) forecasted available product
selection. Actual results and developments are likely to differ,
and may differ materially, from those expressed or implied by the
forward-looking statements contained in this news release. Such
forward-looking statements are based on a number of assumptions
which may prove to be incorrect, including, but not limited to: the
ability to obtain any necessary financing; the economy generally;
the yield from Tweed's marijuana growing operations; consumer
interest in products; competition; regulation and anticipated and
unanticipated costs and delays. Although Tweed Marijuana Inc. has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated,
estimated or intended. Readers should not place undue reliance on
forward-looking statements. The factors identified above are not
intended to represent a complete list of the factors that could
affect Tweed Marijuana Inc. or Tweed Inc. Additional factors are
noted under "Part IV - Description of Risk Factors Associated with
the Acquisition" in the Filing Statement of Tweed Marijuana Inc.
dated as of June 30, 2014 and available
at www.SEDAR.com. The forward-looking statements
included in this news release are made as of the date of this news
release and Tweed Marijuana Inc. does not undertake an obligation
to publicly update such forward-looking statements to reflect new
information, subsequent events or otherwise unless required by
applicable securities legislation.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Tweed Marijuana Inc.