CALGARY, AB / ACCESSWIRE / September 7, 2022 / CannaPharmaRx, Inc. (OTC PINK:CPMD), a future leader in ultramodern, highly efficient cannabis production facilities announced today that on August 31 the company completed and filed its response to Health Canada. The company anticipates this to be the one of the final steps before being awarded a cultivation license.
A standard cultivation license is necessary for larger companies that want to build and grow in a large-scale facility. Upon receiving the cultivation license the company can grow cannabis and sell wholesale to other License Holders.
"Subsequent to the recent completion of a multi-million dollar offtake agreement, we look forward to completing the requirements for our cultivation license. If the process proceeds as anticipated, we expect to receive our cultivation license this month. This would keep us on track to commence operations in our facility during Q4 2022," stated 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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