Company well-positioned for the
recreational market
TORONTO, April 21, 2016 /CNW/ - Canada's Minister of Health Jane Philpott announced yesterday that
legislation to legalize marijuana in Canada will be introduced in spring 2017.
Mettrum Health Corp. ("Mettrum" or the "Company")
(TSXV:MT), a vertically integrated producer of cannabis products,
looks forward to being a leading brand and distributor of a dynamic
line of retail offerings.
"Mettrum is excited to lead the way into this exciting and
long-awaited category," said George
Scorsis, president of Mettrum. "The Company will leverage
best practices in research and development, production, and
consumer packaged goods marketing to solidify its leadership
position in the recreational market."
Mettrum was the first company to simplify the strain selection
process and create a dialogue around medical cannabis based on the
strength and ratio of THC to CBD. "Just as we have done for our
medical brand, we will continue to bring innovation to the
adult-use market, and look forward to pursuing an aggressive retail
strategy once changes in legislation at the federal level are
implemented." Scorsis continued.
Mettrum has three production facilities already licensed by
Health Canada, with a production capacity of 12,000 kg
per year and the opportunity to further increase capacity at its
flagship facility in Bowmanville,
Ontario. "As one of Canada's largest producers and sellers of
medical cannabis, we're exceptionally well-positioned to meet the
increased demand and participate in the legalized cannabis market,"
said Michael Haines, CEO of
Mettrum.
Mettrum's "Live Your Way" campaign is a commitment to provide
its clients with ongoing access to all things cannabis, whether
through the Mettrum Spectrum™ line of medical cannabis products or
its healthy line of hemp-based functional foods, Mettrum
Originals™. The Company believes that its mission to help people
live their way will resonate as the company enters into new legal
markets.
About Mettrum Health Corp
Mettrum Health Corp. is a Tier 1 Industry Issuer listed on TSX
Venture Exchange. Mettrum Ltd., a wholly owned subsidiary of the
Company, is a Toronto-based
company and a licensed producer of medical cannabis under the
Marihuana for Medical Purposes Regulations (Canada) issued pursuant to the Controlled
Drugs and Substances Act (Canada)
(the "MMPR"), which came into effect on October 1, 2013. Mettrum received its first
license from Health Canada under the MMPR on November 1, 2013 and began production of medical
cannabis at its first production facility in Bowmanville, Ontario. Mettrum received its
second license from Health Canada under the MMPR on December 11, 2014 for its Mettrum Creemore
facility in Clearview,
Ontario. Mettrum received its
third license from Health Canada under the MMPR on December 17, 2015 for its new 60,000 square foot
production and distribution facility in Bowmanville, Ontario. With the Company's three
licenses, Mettrum is a leading producer and vendor of medical
cannabis under the MMPR system. In addition, through its wholly
owned subsidiary Mettrum Hempworks, Mettrum also is a licensed
producer and distribution of industrial cannabis (hemp) products,
including Mettrum's functional food line, Mettrum Originals, under
the Industrial Hemp Regulations (Canada) issued pursuant to the Controlled
Drugs and Substances Act (Canada).
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION:
This news release includes certain
"forward-looking statements" under applicable Canadian securities
legislation, including, without limitation, the anticipated
legalization of marijuana, the nature of the legalized and
regulatory regime, the scope and functioning of the recreational
and retail markets, as well as the Company's capacity, strategy and
participation in any such market. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable, are subject to known and unknown
risks, uncertainties, and other factors, which may cause the actual
results and future events to differ materially from those expressed
or implied by such forward-looking statements. Such factors
include, but are not limited to: general business, economic,
competitive, political and social uncertainties; delay or failure
to receive board, shareholder or regulatory approvals; and the
results of operations. There can be no assurance that such
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements. The Company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law
Neither the Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the Exchange) accepts
responsibility for the adequacy or accuracy of this press
release.
SOURCE Mettrum Health Corp.