CALGARY, AB / ACCESSWIRE / July 13, 2021 / CannapharmaRx, Inc. (OTC PINK:CPMD), a future leader in ultramodern, highly efficient cannabis production facilities in Canada, announced today the sale of its Hanover, Ontario facility for $2,000,000 CAD. The Hanover facility includes ten acres of land and 48,800 square feet of growing space. The decision to sell the Hanover facility was made because of the more technologically advanced facilities being considered for purchase. . This sale was unanimously agreed upon by senior management as being best for the company and its stakeholders.
'Eliminating debt and liabilities through the sale of this facility will vastly improve the bottom line of our balance sheet," said Nick Colvin, CEO of CannapharmaRx.
About CannapharmaRx, Inc.
CannapharmaRx is focused on the acquisition and development of state-of-the-art cannabis grow facilities in Canada. CPMD is in discussion with other companies regarding potential acquisitions. CannapharmaRx's business strategy is to become a leader in high quality and low-cost production of cannabis through the development, acquisition, and enhancement of existing facilities. CannapharmaRx is committed to operating high-quality facilities utilizing the latest technology in combined heat and power generation to ensure being a low-cost producer of cannabis.
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