Emblem Corp. Provides Business Update for 2018
December 04 2017 - 8:00AM
Emblem Corp. (
“Emblem” or the
“
Company”) (TSXV:EMC), a vertically integrated
cannabis company focused on research, development, production and
distribution of cannabis products for medical purposes, announced
today its growth plans for 2018.
Incoming President and CEO, Nick Dean, who
brings years of consumer marketing, retail and leadership
experience to Emblem’s dedicated team, will be moving forward under
a new paradigm focused on building capacity to meet the expected
surge in demand, ramping up patient acquisition on the medical
cannabis market, and embarking on a number of strategic
partnerships that will position it well for the adult-use cannabis
market.
“We will be entering a new era when Canada
finally removes the stigma and legalizes adult-use cannabis,” noted
Dean. “We intend on leveraging our award-winning customer
experience, our significant strengths in the medical segment and
our dedicated focus on providing the highest quality products to
become a major player in the recreational segment as well.”
Emblem currently has over 8,500 square feet of
flowering capacity at its closed box facility in Paris, Ontario.
The Company’s recent major land acquisition will soon pave the way
for state-of-the-art greenhouse facilities that will significantly
expand the Company’s total production capacity to upwards of 17,000
kilograms of dried flower per annum.
“With our oils license now in place and the
adult-use market on the horizon, we are looking to significantly
increase our cultivation capacity, while at the same time
maintaining our commitment to produce high-quality product at low
cost,” says Dean. “Ultimately it’s about being relentlessly driven
to deliver a strong return on investment and a solid balance sheet.
We will also be mindful of strategic transactions and other
opportunities to accelerate our growth objectives in Canada and
international markets.”
Emblem remains focused on the production of the
highest quality cannabis flower and derivative products through a
multi-pronged approach of “closed box” and “greenhouse” production
facilities. The Company views having parallel paths and the
optionality of both types of cultivation facilities available as a
prudent approach to maximizing return on capital employed.
About Emblem
Emblem Corp. is a fully integrated licensed
producer and distributor of medical cannabis and cannabis
derivatives in Canada under the ACMPR (Access to Cannabis for
Medical Purposes Regulations). Led by a team of cannabis experts
and former health care and pharma executives, it has three distinct
verticals – cannabis production, patient education centers, and
pharmaceutical dosage form development. Emblem trades under the
ticker symbol EMC on Toronto Venture Exchange (TSXV).
Forward-looking statements
This news release may contain “forward-looking
information” and “forward-looking statements” within the meaning of
applicable Canadian securities legislation (together,
"forward-looking statements"). All statements and
information contained herein that is not clearly historical in
nature may constitute forward-looking statement. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by management, are
inherently subject to significant business, economic and
competitive risks, uncertainties and contingencies that may cause
actual financial results, performance or achievements to be
materially different from the estimated future results, performance
or achievements expressed or implied by those forward-looking
statements.
Forward-looking statements are not a guarantee
of future performance and are subject to and involve a number of
known and unknown risks and uncertainties, many of which are beyond
the control of the Company, which may cause the Company's actual
performance and results to differ materially from any projections
of future performance or results expressed or implied by such
forward-looking statements. These risks and uncertainties include,
but are not limited to, the risks identified in the Company's
annual information form dated October 18, 2017 which has been filed
with the Canadian Securities Administrators and is available on
www.sedar.com. Any forward-looking statements are made as of the
date hereof and, except as required by law, the Company assumes no
obligation to publicly update or revise such statements to reflect
new information, subsequent or otherwise.
Readers are cautioned not to put undue reliance
on these forward-looking statements. This news release contains
information obtained by the Company from third parties and believes
such information to be accurate but has not independently verified
such information.Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
For further information
contact:
Ali Mahdavi Vice President, Capital Markets and
Investor Relations Emblem Corp. (416) 962-3300
alimahdavi@emblemcorp.com
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