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Newly-licensed space doubles flower capacity and provides rooms for Indiva to process edibles
LONDON, ON, Oct. 21, 2019 /CNW/ - Indiva Limited (the "Company" or "Indiva") (TSXV:NDVA) (OTCQX:NDVAF) is pleased to announce that Health Canada has approved its licence amendment, adding 10,000 square feet of production space, including three new grow rooms and two additional processing rooms. This additional square footage will, subject to applicable regulatory approvals, be used to manufacture edibles, increase Indiva's flower production capacity, and enable new growth in the production, manufacturing, processing and refinement arms of the business.
"We are excited to open up these five additional rooms. This new space significantly increases Indiva's revenue potential by adding more capacity to our production, processing and refinement operations," Niel Marotta, Indiva's President and Chief Executive Officer, said. "The approval of this licence amendment powers the next step in our journey; infusing our cannabis into gourmet chocolate as well as other derivative products. We stand committed to following Health Canada's regulations and are proud to receive clearance to continue forward with our strategy to meet the expectations of our supply agreements with provincial wholesalers. We look forward to bringing our exceptional cannabis and cannabis-infused products to more Canadians."
Indiva intends to begin populating its three new flower rooms immediately. The cannabis grown in this space is expected to be turned into flower, pre-rolls, oil and distillate. The two newly-licensed processing rooms are expected to be dedicated to Indiva's pre-roll production and chocolate manufacturing operation.
Indiva is also pleased to announce plans to submit its evidence package to Health Canada for the final phase of its London, Ontario facility by the end of October. Once licensed, this will provide an additional 10,000 square feet of processing space.
Indiva's global family of cannabis brands set the standard for quality and innovation. Indiva aims to bring its exceptional portfolio of products to Canadians and cannabis enthusiasts around the world as laws permit. Indiva's production facility, based in London, Ontario, includes aeroponic, environmentally-conscious grow rooms and a nearly completed extraction and manufacturing space, which will be able to process 70 tonnes of biomass annually and produce safe, high-quality cannabis-infused edibles. In Canada, Indiva will produce and distribute Ruby® Cannabis Sugar, Sapphiretm Cannabis Salt and Ruby® Gems, as well as the award-winning Bhang® Chocolate, and other derivative products through licence agreements and joint ventures. Click here to connect with Indiva on social media and here to find more information on the Company and its products.
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Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties' current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Company's future operations, future product offerings and entry into additional markets, changes to laws and regulations in Canada and internationally, and compliance with applicable regulations. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the parties being able to obtain the necessary regulatory and other third parties' approvals and licensing and other risks associated with regulated entities in the cannabis industry. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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SOURCE Indiva Limited
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