MJardin Announces Nova Scotia Mi’kmaq First Nations Joining its AMI Partnership
April 01 2019 - 8:00AM
MJardin Group, Inc. (“
MJardin” or “the
Company”) (CSE: MJAR) (OTCQX: MJARF), a leader in
cannabis production, is pleased to announce the completion of an
Agreement (the “
Agreement”), whereby the Nova
Scotia Mi’kmaq First Nations (“
Mi’kmaq”) will own
a 51% stake in AtlantiCann Medical Inc. (“
AMI”).
As a result of the Agreement, MJardin and the Halef Group will own
39% and 10% of AMI, respectively. In connection with the
partnership formed under the Agreement, MJardin, the Mi’kmaq and
the Halef Group are contemplating expansion of their relationship,
including retail.
Located in Halifax, Nova Scotia, AMI is a
licensed joint venture cultivator with a 48,000 square foot
facility with a production capacity of 6,000 kg per year
(Phase 1), and an additional 20,000 square feet (Phase 2) expected
by the end of 2019 which is anticipated to double AMI’s production
capacity. AMI has been built to GMP standards and is presently
undertaking the GMP certification process, anticipated to be
complete in the second half of 2019. AMI is also in the
application process for a sales license with Health Canada which is
anticipated to be granted by the end of September, 2019.
“We are very pleased with the level of
commitment from the Mi’kmaq First Nations in the AMI partnership
and the strategic value this brings to MJardin,” noted Adrian
Montgomery, Chair of the board of MJardin Group. “AMI is an
important asset as part of MJardin’s growth strategy as we continue
our focus on ramping up sales and furthering our footprint and
production assets across Canada.”
About MJardin Group
MJardin is a global cannabis management platform
with extensive experience in cultivation, processing, distribution
and retail. For over 10 years, MJardin has refined cultivation
methodologies, developed state of the art facilities and
implemented vertical integration for and on behalf of license
owners. MJardin is based in Denver, Colorado and Toronto, Canada .
For more information, please visit www.mjardin.com.
The CSE has not in any way passed upon the
merits of and has neither approved nor disapproved the contents of
this news release.
This news release does not constitute an offer
to sell or a solicitation of an offer to sell any of the securities
in the United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”) or any state securities laws
and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
Forward-Looking Information
This news release contains forward-looking
information based on current expectations. Statements about, among
other things, future developments and the business and operations
of MJardin, future arrangements with either the Halef Group or the
Mi’kmaq, trading of MJardin’s shares on the OTCQX Best Market, the
receipt of any pending regulatory approvals or licenses, the growth
of or global footprint and our intentions to leverage our scale for
continued organic growth and to pursue strategic investments are
all forward-looking information. These statements should not be
read as guarantees of future performance or results. Such
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results, performance or achievements
to be materially different from those implied by such statements.
Such factors include, but are not limited to: our ability to
identify and pursue growth, financing and other strategic
objectives, and the regulatory and economic environments in the
jurisdictions we operate or intend to operate or investment in.
Although such statements are based on management’s reasonable
assumptions at the date such statements are made, there can be no
assurance that the proposed acquisition will occur and that such
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such forward-looking information. Accordingly,
readers should not place undue reliance on the forward-looking
information. MJardin assumes no responsibility to update or revise
forward-looking information to reflect new events or circumstances
unless required by applicable law.
CONTACT: Ali MahdaviCapital
Markets & Investor Relations416-962-3300
Ali.mahdavi@MJardin.com
Frank Knuettel IIChief Strategy Officer
720-613-4019 Frank.Knuettel@MJardin.com
MJardin (CSE:MJAR)
Historical Stock Chart
From Mar 2024 to Apr 2024
MJardin (CSE:MJAR)
Historical Stock Chart
From Apr 2023 to Apr 2024