NIAGARA-ON-THE-LAKE, ON,
April 29, 2015 /CNW/ - Tweed
Marijuana Inc. (Tweed Marijuana) the parent company of licensed
marijuana producers Tweed Inc. (Tweed) and Tweed Farms Inc. (Tweed
Farms) is pleased to announce that building permits have been
issued and infrastructure enhancements have commenced at Tweed
Farms' 20-acre property in southwestern Ontario.
The current phase of construction will add 316,000 sq. ft. of
cost-effective growing space and a separate 24,000 sq. ft.
packaging facility with a storage vault. In the last year cannabis
plants have been grown at Tweed Farms have using 34,000 sq. ft. of
the 350,000 sq. ft. greenhouse.
"Tweed's focus is customer-centric. In a market with a rapidly
expanding customer base, the most customer-focused approach you can
take is to build a large growing platform that keeps a diverse
product line available to customers. The current phase of expansion
underway at Tweed Farms will allow us to service additional clients
who are choosing cannabis to manage a variety of symptoms," said
Bruce Linton, Chairman and CEO of
Tweed Marijuana.
Once approved by Health Canada, these enhancements will greatly
increase the maximum capacity the Company is capable of producing
and add to the consistent, diverse supply of quality cannabis Tweed
customers benefit from today. Three additional growing rooms, an
in-house lab and a state of the art production area were all
recently approved by Health Canada, bringing the total number of
indoor growing rooms from nine to 12 at 1 Hershey Drive in
Smiths Falls, Ontario. The Company
is currently licensed to produce 3500 kg of finished product
annually.
Here's to Future Growth.
About Tweed Marijuana Inc.
Tweed Marijuana is Canada's first
publicly traded medical marijuana company and the first
geographically diversified producer with dual licences under the
Marihuana for Medical Purposes Regulations.
Through its wholly owned subsidiaries, Tweed Inc. and Tweed
Farms Inc., the Company operates two state-of-the-art production
facilities in Ontario and
distributes marijuana across the country to Canadian patients
managing a host of medical conditions.
The Company is dedicated to educating healthcare practitioners,
providing consistent access to high quality medication, and
furthering the public's understanding of how marijuana is used for
medical purposes.
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.