KDA Group Updates on Subsidiary Cannorth Medic Inc.
Thetford Mines, Quebec / TheNewswire / May 13, 2019 - KDA Group Inc. (TSXV: KDA) ("KDA" or the "Corporation") is pleased to announce that its subsidiary CanNorth Medic Inc. ("CanNorth"), previously announced in its press releases dated July 3, 2018 and October 29, 2018, has successfully completed the preliminary and high-level review of its licence application for the cultivation of cannabis for medical purposes, as confirmed by Health Canada on May 10, 2019. First of many steps, this confirmation under the Cannabis Regulations by Health Canada represents an important milestone on which the Corporation has been working for several months.
"In 2018, we embarked upon a new strategic vision to position KDA in growth markets such as the legal cannabis market and to become a global leader in cannabis cultivation with a vision to offer patients innovative and high-quality cannabis-based products for medical use. Since then, we have executed a carefully planned roadmap with our experts from the pharmaceutical industry to ready our manufacturing capacity for production, while securing commercial contracts and expanding our strategic relationships with global market leaders. Over the next few weeks, KDA and CanNorth will proceed to the hiring of highly qualified peoples from the pharma industry to ensure that the plant at Saint-Gabriel de Rimouski meets not only Health Canada Good Production Practices standards ("GPP"), but also complies with the Good Manufacturing Practices ("GMP") requirements, well-known high-level pharmaceutical standards. KDA looks forward to contributing to this emerging industry in Quebec", said Marc Lemieux, President and CEO of KDA.
CanNorth shall now provide evidence to Health Canada to demonstrate that its site meets all the requirements of the Cannabis Regulations, both in terms of the physical security, compliance with the GPP, record keeping, and visual evidence. Once all information is reviewed and deemed adequate, an initial licence may be issued by Health Canada.
KDA is a leading innovation and specialized solution provider in the pharmaceutical market. Today it is a respected name for quality and expertise among the different stakeholders in the pharmaceutical and medical sector. Its management team is guided by a vision of continuing to lead the way in Quebec while extending operations across Canada and internationally. Additional information on the Corporation is available at www.groupekda.ca and on SEDAR at www.sedar.com.
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Chief Executive Officer