/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, April 19, 2018 /CNW/ - Speakeasy Cannabis Club Ltd. (CSE: EASY) (Frankfurt: 39H) (the "Company") is pleased to announce an update on its application with Health Canada to obtain licensed producer status under the Access to Cannabis for Medical Purposes Regulations.
The Company has submitted its extensive evidence package on its fully completed 10,000-square-foot facility to Health Canada. Health Canada has acknowledged receipt and is currently reviewing the file. This is the final step in order to obtain a production licence under Section 35 of the ACMPR (access to cannabis for medical purposes regulations). This package included documentation, detailed photos and video, facility design packages and the ability to demonstrate product storage, security, monitoring of access and record keeping. No assurances can be given at this point on the time frame for inspection and potential subsequent granting of licensed producer status.
Speakeasy is also pleased to announce that it has commenced construction on its phase 2 expansion which will be a state-of-the-art, 80,000-square-foot indoor facility that includes growing, extraction and genetics labs. The expansion will consist of three 27,000-square foot buildings that will be the home to the SpeakEasy grow team that will be capable of producing more than 10,000 kilograms annually.
"We are very pleased to be working with Health Canada, and appreciate their receptiveness in receiving their responses to our submissions in a timely fashion. In getting to this stage, we've received significant support from the local community in Rock Creek and we would like to thank them for their patience and very meaningful support. We look forward to updating our various stakeholders on progress, in regards to our ACMPR application, and look forward to expanding our facility."
More information regarding the application process for licensed producers can be found on Health Canada's website.
ON BEHALF OF HADLEY MINING INC.
(signed) "Marc Geen Chief Executive Officer
Not for distribution to United States wire services or dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.
Statements about the Target's future facility expansion plans or ACMPR license application are all forward-looking information.
Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include failure to obtain regulatory approval, the continued availability of capital and financing, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.
Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Speakeasy Cannabis Club Ltd.
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