TheNewswire - August 13th, 2019 - Camarico Construction Ltd. ("CamCon") a wholly owned subsidiary of Camarico Investment Group Ltd. (CNSX:CIG.CN) ("Camarico" or the "Company") has been awarded a major Engineering, Procurement and Construction (EPC) contract by Camarico Land & Development Corp's Georgetown Cannabis Project located in the County of Vulcan, Alberta Canada.
Camarico Land & Development Corp is a related party to CamCon and is a wholly owned subsidiary of Camarico Investment Group.
The Phase I Georgetown development was conditionally permitted on February 6th, 2019. Phase I consist of 75-acres and is comprised of 18 - 19 lots with a single 58,000 SQFT building on each lot services by company owned private utilities. The company has a total of 320 acres zoned under "direct control" for the purpose of cannabis cultivation with an additional 1,440 acres under option for future development.
CamCon will execute this project under a lump sum and reimbursable basis. It will cover the EPC of Georgetown Phase I and associated topsides, which will be developed in accordance to the terms and conditions set out by the County of Vulcan, Health Canada and applicable building code.
R. Mackenzie Loree CEO & Director at Camarico Investment Group, commented: "We are extremely honored to engage our integrated business and investment model to deliver Georgetown, the most ambitious and innovative cannabis project on the market. The implementation of a Camarico Construction within Georgetown is a strategic development of core portfolio interests for the continued and rapid expansion of conceptualization to cash flowing opportunities."
For further information regarding Camarico, see the Company's profile on SEDAR at www.sedar.com.
R. Mackenzie Loree
CEO & Director
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Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company, including the statements that: (i) the delisting of its common shares from the TSXV; and (ii) the expected listing on its common shares on the CSE. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information contained in this news release.