Gaia Grow Confirms Receipt of Confirmation of Readiness Letter from Health Canada for Construction of Indoor Cannabis Cultivation Facility
Vancouver, British Columbia - TheNewswire - August 13, 2019 - Gaia Grow Corp. (TSXV:GAIA) (the "Company") or "Gaia") is proud to reiterate that as of April 29, 2019 it has received a confirmation of readiness letter from Health Canada for its indoor medical cannabis cultivation facility, slated to be built on its fully-owned 80 acres of Agriculturally-zoned land in Lamont County, AB.
This confirmation of readiness letter reaffirms that the operational plans for the business are adequate to proceed, and that from Health Canada's perspective, the Company is ready to begin construction.
Regarding this important milestone, Gaia's Chief Executive Officer Frederick Pels commented: "The Confirmation of Readiness letter precedes issuance of a production "Cannabis Nursery License," which is the license subclass required to commence operations on our Lamont Property. This was a long-awaited moment, the culmination of patience, hard work, and dedication from our management team as well as our consultants. Once this facility is built and we obtain our sales licence, we will be able to sell our quality craft grown cannabis to both medical and recreational consumers. In addition, this license will allow us the ability to source and sell other high-quality products from our contacts in the micro-grow craft cannabis sector. This is only the beginning of a ground-breaking year for Gaia and its shareholders and we look forward to keeping everyone informed with our progress."
Further releases about the building selection, construction timelines and budget, as well as final approval of the development permit will be provided upon availability.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY AND FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the development of a facility for the licensed production of cannabis in general such as operational risks in growing; competition; incorrect assessment of the value and potential benefits of various transactions; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to tax laws and government regulations. Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release.