SMITHS FALLS, ON, Feb. 20, 2015 /CNW/ - Tweed Marijuana Inc.
("Tweed" or "the Company") is pleased to announce that the
installation of a state-of-the-art aeroponic system developed by
Texas-based Indoor Harvest Corp.
(Indoor Harvest) has commenced at 1 Hershey Drive in Smiths Falls, Ontario. The system is the basis
of a Cannabis Production Pilot Agreement between the two
companies.
Cannabis-specific modifications will be implemented, tested and
recorded. The companies will jointly own any resulting
intellectual property, with Tweed obtaining exclusive licensing
rights within Canada and all
jurisdictions excluding the United
States.
"The Tweed R&D team reviewed a number of potential aeroponic
partners from around the globe and chose Indoor Harvest for their
high pressure, large-scale aeroponic specialization and their
leading edge involvement in this emerging sector," said
Bruce Linton, CEO and Co-founder of
Tweed. "Pushing boundaries is a part of Tweed's culture so the fit
is ideal."
"We are extremely happy to be working with one of the largest
medical cannabis producers in Canada," said Chad
Sykes, CEO and founder of Indoor Harvest. "I feel Tweed has
created a recognizable brand and we hope to establish a successful
long-term partnership. The regulatory regime in Canada is much different and more reliable
than in the States, conducting development in Canada makes the most sense and we are looking
forward to designing a platform that will increase yields and lower
production costs."
Aeroponics and vertical farming are currently gaining worldwide
recognition, particularly through projects such as MIT City Farm,
and this pilot will be the first of its kind for commercial
production of cannabis. The method has commercial potential because
it is an efficient, sustainable way to produce agricultural
products. To learn more about aeroponics and this exciting project,
you can follow our three-part Tweed Vault series at the
www.tweed.com.
Here's to Future Growth.
Notice regarding Forward Looking Statements
This news release contains forward-looking statements including
statements about Tweed's future operations. Such statements involve
known and unknown risks, uncertainties and other factors which may
cause the actual results to be materially different from those
expressed or implied above. Such forward-looking statements are
based on a number of assumptions which may prove to be incorrect,
including: the ability to obtain necessary financing; the economy
generally; the yield from Tweed's marijuana growing operations;
consumer interest in products; competition; regulation and
unanticipated costs and delays. Although Tweed has attempted to
identify important factors that could cause actual results to
differ materially from those described above, there may be other
factors that cause results not to be as anticipated. Readers
should not place undue reliance on forward-looking statements.
Tweed's public disclosure documents available at
www.SEDAR.com contain detailed discussion of the risk factors
associated with its business. The forward-looking statements
included in this news release are made as of the date of this news
release and Tweed does not undertake an obligation to update such
forward-looking statements unless required by applicable law.
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.