Duncan Facility Ready for Immediate Pre-License Inspection
Perth, Nov 4, 2015 AEST (ABN Newswire) - MMJ PhytoTech Limited (
ASX:MMJ) is pleased to announce that through its subsidiary UG, it has received full occupancy at the state-of-the-art Duncan Facility located near Vancouver, British Columbia, Canada. UG was issued an Occupancy Permit as expected on 2 November 2015 after provincial and municipal review and approval. Being the last remaining approval needed, MMJ has officially notified Health Canada that Duncan is ready for Pre-Licensing Inspection and has requested a date for inspection as soon as possible.
Highlights
- MMJ PhytoTech's ("MMJ" or the "Company") wholly owned subsidiary United Greeneries ("UG") received full occupancy of Duncan Facility ("Duncan") on 2 November 2015
- Comprehensive response to Health Canada's ("HC") 1 April 2015 "Confirmation of Readiness" letter submitted by MMJ on 3 November 2015; Immediate date for Pre-Licensing Inspection has been requested
- PreLicensing Inspection final step to receiving a cultivation license from HC under the Marijuana for Medical Purposes Regulations ("MMPR")
- After completion of finishing, enhancement and optimization project, Duncan is a state-of-the-art potential MMPR facility
- Management is confident that all potential deficiencies identified by Health Canada and by the Company have been adequately addressed
- Additionally, several voluntary optimization improvements have been completed which are expected to dramatically improve work flow and capacity of Duncan
- Duncan to produce up to 1,000 kg of Medical Cannabis ("MC") per year at full capacity
Duncan Undergoes Big Changes since April 1 2015
- Letter to Health Canada was technically a response to the April 1 2015 "Confirmation of Readiness" letter
- April 1st letter directly and indirectly identified a small number of potential deficiencies which have now been rectified
- Further, several non-mandatory optimisations, aesthetic improvements and finishings have been completed with the aim of improving work flow and capacity
- Duncan is now a state-of-the-art potential MMPR facility capable of producing up to1,000 kg/year of MC
- Key structural modifications and installations:
* Dropping the ceiling in the vault;
* State-of-the-art surveillance system;
* New HVAC system;
* New Irrigation system; and
* Various enhancements to grow room.
Strategic Importance of MMPR License
- The Duncan MMPR license will provide MMJ with a secure and legal source of MC for processing into higher value compounds and potentially pharmaceuticals in line with MMJ's "Farm to Pharma" strategy
- MMPR license at Duncan could potentially expedite the rollout of domestic extraction infrastructure in Satipharm Canada
- In the interim the license could facilitate the importation and sale of CBD capsules from Europe which would give MMJ a significant first mover advantage in the newly formed and currently unserved extracts market
- The leading character and federal positioning of the Canadian MMPR will allow for knowledge and expertise transfer into new and emerging MC markets, including Australia
About MMJ Group Holdings Ltd
MMJ Group Holdings Ltd (ASX:MMJ) is a global cannabis investment company. MMJ owns a portfolio of minority investments and aims to invest across the full range of emerging cannabis-related sectors including healthcare, technology, infrastructure, logistics, processing, cultivation, equipment and retail. For MMJ's latest investor presentation and news, please visit: https://www.mmjphytotech.com.au/investors/
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