SMITHS FALLS, ON, July 8, 2015 /CNW/ - Tweed Marijuana Inc. ("TMI"
or "the Company"), parent company of Tweed Inc. ("Tweed") and Tweed
Farms Inc. ("Tweed Farms") is pleased to announce that pursuant to
notification received today from Health Canada, licensed producers
such as Tweed and Tweed Farms will be eligible to produce and sell
cannabis oils pending the necessary inspections and approvals from
Health Canada.
Until today the Marihuana for Medical Purposes
Regulations (MMPR) only allowed for the sale of dried cannabis
flower. With the addition of cannabis oils to the regulatory
framework, Tweed will be able to significantly increase its product
offering to provide a more diverse variety for practitioners and
patients.
"This is a natural sign of progression in the industry and a big
step forward for patients seeking access to a variety of diverse
products," said Mark Zekulin,
President of Tweed. "Tweed has the largest growing facilities in
the country, and is ready to move expeditiously to offer its
customers a diverse line of oil extracts."
Tweed's existing facilities are capable of housing new
extraction infrastructure, and Tweed had already applied for a
Section 56 exemption under the Controlled Drugs and Substances Act
to conduct research on extractions. As such, upgrades are well
underway to ensure availability once the necessary approvals are
finalized.
"We've led the industry with availability and selection of dried
products and will continue to do so with cannabis oils," Zekulin
said. "We're pleased that Licensed Producers have been trusted by
Health Canada to complete the extraction process. This is an
important milestone for customer access."
Demonstrating Tweed's focus on product variety and reliability,
today Tweed is launching:
- Two new $12 dollar strains, which
according to Master Grower Ryan Douglas are the best products the
Company has released to date;
- Collection packs of our most versatile strains;
- Loose Leaf product lines at a value-added $5 price point; and
- Our new Flagship Strain Guarantee, ensuring the availability of
our core strains in the store.
Tweed's pending acquisition of Bedrocan Canada will only further
enhance the Company's ability to meet customer needs with the
industry's leading product variety and quality.
Here's to Future Growth.
About Tweed Marijuana
Tweed Marijuana is Canada's
first publicly traded medical marijuana company and the first
geographically diversified producer with dual licenses under the
Marihuana for Medical Purposes Regulations.
Through its wholly owned subsidiaries, Tweed and Tweed Farms,
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. Often,
but not always, forward-looking statements can be identified by the
use of words such as "plans", "expects" or "does not expect", "is
expected", "estimates", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases
or state that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Tweed Marijuana Inc. or Tweed
Inc. to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements. Examples of such statements include:
(A) predictions of future demand; (B) plans to increase capital
expenditure and construction related expenses; (C) anticipated
production yields; (D) completion of construction and availability
of new production rooms; and (E) forecasted available product
selection. Actual results and developments are likely to differ,
and may differ materially, from those expressed or implied by the
forward-looking statements contained in this news release. Such
forward-looking statements are based on a number of assumptions
which may prove to be incorrect, including, but not limited to: the
ability to obtain any necessary financing; the economy generally;
the yield from Tweed's marijuana growing operations; consumer
interest in products; competition; regulation and anticipated and
unanticipated costs and delays. Although Tweed Marijuana Inc. 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 not to be as anticipated,
estimated or intended. Readers should not place undue reliance on
forward-looking statements. The factors identified above are not
intended to represent a complete list of the factors that could
affect Tweed Marijuana Inc. or Tweed Inc. Additional factors are
noted under "Part IV - Description of Risk Factors Associated with
the Acquisition" in the Filing Statement of Tweed Marijuana Inc.
dated as of June 30, 2014 and available at www.SEDAR.com. The
forward-looking statements included in this news release are made
as of the date of this news release and Tweed Marijuana Inc. does
not undertake an obligation to publicly update such forward-looking
statements to reflect new information, subsequent events or
otherwise unless required by applicable securities legislation.
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.