James E. Wagner Cultivation Corporation (“
JWC” or
the “
Corporation”) (TSX VENTURE: JWCA; OTCQX:
JWCAF), is pleased to announce that on August 14, 2019, it entered
into a purchase and supply agreement with TerrAscend Corp.
(“
TerrAscend” or “
Purchaser”)
(CSE: TER; OTCQX: TRSSF), pursuant to which the Corporation agreed
to provide dry cannabis flower and cannabis oils to TerrAscend (the
“
Agreement”). It is anticipated that the Purchaser
will list the product acquired from JWC under the Agreement for
sale on its online medical sales platform, the Solace Health online
marketplace, once inaugural product inventories have been received.
With this Agreement, JWC will have access to two
of the largest medical store fronts in Canada. This Agreement
follows JWC’s successful participation in Canopy Growth
Corporation’s CraftGrow program, Canada’s largest medical platform,
since November 2018, and is JWC’s second purchase and supply
agreement with a licensed producer. The Corporation expects
to further expand its distribution network to additional venues to
meet the demand for high-quality cannabis products
in Canada and abroad, as laws permit.
Currently, the Solace Health online marketplace
is home to thousands of registered medical patients across Canada.
The platform is an ideal venue for JWC to expand its product
portfolio visibility, in what is expected to be a revolving
purchase and supply agreement with the Purchaser.
Michael Nashat, TerrAscend's Chief Executive
Officer, commented: "By adding JWC products to our medical
marketplace, Solace Health, we are expanding the diversity of our
product offerings to address growing patient needs. We are excited
to work with JWC and to continue to position Solace Health as a
leader in providing medical cannabis products to Canadian
patients.”
"JWC is proud to have its products featured on
the Solace Health platform. This represents another important step
in bringing our products to the patients and people of Canada, and
an important business evolution as we continue to secure
distribution for our increasing production. We look forward to a
beneficial collaboration through the Solace Health outlet," Nathan
Woodworth, President and Chief Executive Officer of the
Corporation, said.
Additional information on JWC's commitment to
delivering innovative and medical-grade cannabis products can be
found at www.jwc.ca
About James E. Wagner
Cultivation Corporation
JWC’s wholly-owned subsidiary is a Licensed
Producer under the Cannabis Regulations, formerly the Access to
Cannabis for Medical Purposes Regulations
(“ACMPR”). JWC is a premium cannabis brand,
focusing on producing clean, consistent cannabis. JWC uses an
advanced and proprietary Dual Droplet™ aeroponic platform named
GrowthSTORM™. JWC was founded as a family company and is based on
family values. JWC began as a collective of patients and growers
under the Marihuana Medical Access Regulations (the precursor to
ACMPR). Since its inception, JWC has remained focused on providing
the best possible patient experience. JWC’s operations are based in
Kitchener, Ontario. Learn more at www.jwc.ca.
About
TerrAscend
TerrAscend provides quality products, brands,
and services to the global cannabinoid market. As the first North
American Operator (NAO), with scale operations in
both Canada and the US, the Company participates in the
medical and legal adult use market across Canada and in
several US states where cannabis has been legalized for therapeutic
or adult use. Additionally, TerrAscend will soon be the first and
only cannabis company with sales in the US, Canada,
and Europe as it has received EU GMP certification for
its manufacturing facility in Mississauga, Ontario. TerrAscend
operates a number of synergistic businesses, including Solace
Health, an online medical marketplace.
For additional information about JWC,
please refer to JWC’s profile on SEDAR (www.sedar.com) or the
Corporation’s website: www.jwc.ca.
Notice regarding forward-looking
statements:
This press release contains statements including
forward-looking information for purposes of applicable securities
laws (“forward-looking statements”) about JWC and
its business and operations which include, among other things,
statements regarding the current and future anticipated sale of
products by JWC, maintenance of an ongoing supply relationship with
TerrAscend and with Canopy Growth Corporation, anticipated
continuing expansion of JWC’s distribution networks, continuing
expansion of production by JWC and continuing growth of JWC’s
product lines. The forward-looking statements can be identified by
the use of such words as “will”, “expected”, “approximately”,
“may”, “could”, “would” or similar words and phrases.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results
to differ materially from those implied in the forward-looking
statements. For example, risks include risks regarding the cannabis
industry, economic factors, the equity markets generally, building
permit related risks and risks associated with growth and
competition as well as the risks identified in the Corporation’s
Annual Information Form dated April 3, 2019, available under the
Corporation’s profile at www.sedar.com. Although JWC 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 to differ from those anticipated,
estimated or intended. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release and are based on current
assumptions which management believes to be reasonable. The
Corporation disclaims any intention or obligation, except to the
extent required by law, to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
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 more information about this
release, please contact
Nathan Woodworth, President & CEO of JWC
Email: nathan@jwc.ca Phone: (519) 594-0144 x421
OR
George Aizpurua, Vice President of First
Canadian Capital Corp. Email:
gaizpurua@firstcanadiancapital.com Phone:
(416) 742-5600
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