Cronos Group Inc (CRON)

[oatsuzn]

PharmaCan's In The Zone receives Health Canada sales licence!

This is their recreational LP!

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aMJN-2435707&symbol=MJN®ion=C


2017-01-11 09:14 ET - News Release

Mr. Michael Krestell reports

CRONOS GROUP GRANTED SECOND HEALTH CANADA SALES LICENSE

In the Zone Produce Inc. (ITZ), a wholly owned subsidiary of PharmaCan Capital Corp. (doing business as Cronos Group), has been approved by Health Canada to sell medicinal cannabis pursuant to the access to cannabis for medical purposes regulations (ACMPR). The new ITZ sales licence supplements the prior cultivation licence and validates the operational quality assurance undertakings of the company. ITZ may immediately begin selling cannabis directly to medical patients throughout Canada, and this sets the stage for the development of new ITZ-branded platforms. ITZ is now Cronos's second wholly owned licensed producer to receive a sales licence.

This issuance is an instrumental milestone for the recently announced Indigenous Roots joint venture. As previously stated, Indigenous Roots plans to build a flagship location on a subsection of ITZ's licensed 31-acre property, which will not have any material impact on ITZ's recreational expansion plans. The Indigenous Roots facility will be fully financed by Cronos's first nation joint venture partners, and construction is expected to begin in the spring of 2017. Additional details related to the launch, the site design, and a first nations logo and branding contest will be announced in the coming weeks.

"Obtaining the sales licence at ITZ positions Cronos as the only company with licensed producers in multiple provinces. It expedites the development timeline of our production and branding initiatives on the property, including our joint venture with Indigenous Roots. We remain committed to leading the cannabis industry forward by leveraging Cronos's extensive portfolio and aggressively developing incremental global distribution channels in the process of creating substantial value for our shareholders," said Mike Gorenstein, chief executive officer of Cronos.

About Cronos Group

Cronos Group's flagship licensed producers, Peace Naturals Project Inc. (Ontario), and In The Zone Produce Ltd. (British Columbia) are collectively situated on over 125 acres of agricultural land and are currently licensed to produce 2,600 kilograms of cannabis on an annual basis. The company also holds minority equity positions in licensed producers Whistler Medical Marijuana, Hydropothecary and Abcann Medicinals.

About In The Zone

ITZ is licensed to produce and sell up to 100 kilograms of medical marijuana per year and is located on 31 acres of land in the Okanagan Valley, British Columbia.

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