Vancouver, British Columbia / ACCESSWIRE / December 17, 2014 / My Marijuana Canada Inc. (CSE:MYM) (the "Company" or "My Marijuana") is pleased to announce that Health Canada has accepted the Company's MMPR (Marihuana for Medical Purposes Regulations) Application.
The Company has also received approval from the District of Maple Ridge to construct its 14,000-square-foot, state-of-the-art medical marijuana production facility that would handle growing, processing, packaging, storage, distributions and administration. The facility is being designed so that it will be capable of producing 5,500 pounds to 6,000 pounds of eight to 12 strains of marijuana annually, and My Marijuana plans to invest approximately $1,500,000 into the materials, labor and equipment necessary to complete the facility. My Marijuana plans to expand to up to 120,000 square feet of greenhouse growing operations on the property and plans to raise the capital needed through financing activities.
The Company is currently at stage 4 of Health Canada's review and is anticipating the receipt of its 'Ready-to-Build' approval by the end of 2015's first quarter, with plans to complete the facility in 2015. Following construction completion and inspection of the facility by Health Canada, My Marijuana hopes to receive final approval for a producer's license in 2015. There is, however, no guarantee that Health Canada will approve My Marijuana's application and grant a producer's license, even if My Marijuana meets all of Health Canada's requirements.
The Company has enlisted the services of a third party testing lab, previously approved by Health Canada, to act as a regulatory body and to test the product.
My Marijuana is also in talks with various parties, exploring other business opportunities that surround the medical marijuana business and that also have impressive growth opportunities.
About My Marijuana Canada Inc.
My Marijuana Canada is a marijuana company advancing an application to grow and distribute medical marijuana under an MMPR license with Health Canada. My Marijuana Canada's management team has extensive experience in medical marijuana licensing, production and cultivation. The management also has a long track record of successful company startup experience in emerging markets.
Further information about My Marijuana is available under its profile on the SEDAR website www.sedar.com and on the CSE website www.thecse.ca.
For further information on MY Marijuana, please contact:
Jack Martel
Director
Tel: 604-256-6739
Email: [email protected]
ON BEHALF OF THE BOARD
"Jonathan Fiteni"
CEO
This news release may contain forward-looking statements including but not limited to comments regarding market information and timing of planned projects, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
SOURCE: My Marijuana Canada Inc.