TORONTO, ON--(Marketwired - Jun 9, 2015) - Galileo Life Sciences, Inc. ("the Company") (OTC PINK: MDRM), formerly Modern Mobility Aids Inc., announced today that it is nearing its goal of becoming a licensed Canadian producer and distributor of high quality medical marijuana under Health Canada's Marihuana Medical Purposes Regulations ("MMPR").
Galileo Life Sciences, through its wholly owned Canadian subsidiary, has executed a definitive agreement to acquire 100% of the shares of an Ontario property with state of the art marijuana production facilities. The Company has established a subsidiary focused on developing the Cannabis product business under the leadership of Declan French, who has invested the last two years in the industry in Canada, and has re-joined the board and management of Galileo to lead the medical marijuana development team.
Working closely with the family run owner-operators of the farm, which received a "Ready to Build" letter from Health Canada, the Company reports that it has passed through the primary steps to approval. These steps include: preliminary screening, enhanced screening, security clearance for key personnel and review of the application to validate all information, and the plant is now in the final stages of construction to confirm that it is ready for cultivation, production and storage of dried marijuana. There are more than 1200 applications before Health Canada to become licensed producers of medical marijuana, and only 18 firms have so far been licensed as cultivators and distributors, while 7 are licensed as cultivators awaiting distribution licenses.
"It is indeed very exciting for me to be joining the board as Chairman of this company just as it is on the cusp of acquiring an MMPR license from Health Canada," said Dr. Duncan Scott, Chairman of Galileo Life Sciences, Inc. "We are pleased that the end is near in the Health Canada approval process and look forward to becoming one of a very few licensed producers and distributors of high quality medical cannabis and welcome Declan French back to lead that team. Achieving final approval will put Galileo Life Sciences at the forefront of licensed producers striving to meet the rapidly growing need for medicinal cannabis," commented Dr. Scott.
