GATINEAU, QC–(Marketwired – October 17, 2017) – The Hydropothecary Corporation (TSX VENTURE: THCX) (“THCX” or the “Company”) is pleased to announce that Health Canada has granted a licence amendment more than doubling its current licensed storage capacity. The Company’s current licensed capacity has been increased from 4,380 kg to 9,380 kg.
The Company is also planning to construct additional vault space to meet the storage requirements anticipated as part of its 250,000 sq ft greenhouse expansion. With the expansion, the Company production capacity is expected to increase to 25,000 kg of dried cannabis per year.
On June 22, 2017, Hydropothecary was granted an unlimited licence to produce and sell as much medical marijuana, oils, plants or seeds, as it can store.
“This increase in our licensed storage capacity, when accompanied by our unlimited licence to produce and sell medical marijuana, puts us in a position to provide a consistent supply of high quality cannabis for both the medical and anticipated legal adult use markets,” said Sebastien St-Louis, CEO and co-founder.
About The Hydropothecary Corporation
The Hydropothecary Corporation is an authorized licensed producer and distributor of medical cannabis licensed by Health Canada under the Access to Cannabis for Medical Purposes Regulations (Canada). Hydropothecary provides sun grown and rigorously tested medical cannabis of uncompromising quality. Hydropothecary’s branding, cannabis product offering, patient service standards and product pricing are consistent with THCX’s positioning as a premium brand for a legal source for medical cannabis within this new marketplace. In addition to medical cannabis production and sales, Hydropothecary explores various research and development opportunities for cannabinoid extracts, drugs and combinatory chemistry. In addition, the company is investigating the development and patenting of novel technologies related to medical cannabis, as well as the import and export of medical cannabis.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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