MPX International’s Canveda Inc. Receives Licence Amendment for Sale of Dried/Fresh Cannabis from Health Canada
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Canveda Commences Sales to Medical Patients
TORONTO, ONTARIO / ACCESSWIRE / July 29, 2019 / MPX International Corporation (“MPX International”, “MPXI” or the “Company”) (CSE:MPXI; OTC:MPXOF) is pleased to announce that Canveda Inc. (“Canveda”), a wholly-owned subsidiary of MPXI, has received approval from Health Canada to sell Cannabis, effective as of July 26, 2019, in accordance with Sections 11(5), 17(5) and 27 of the Cannabis Regulations pursuant to an application to amend the conditions of its previously obtained licence for standard cultivation to allow for the sale of fresh and dried cannabis products.
In addition to sales to other Licenced Producers, the amended licence authorizes the sale of fresh and dried cannabis:
“The ability to sell into both the recreational and medical cannabis markets in Canada as a result of this amendment represents a significant milestone for Canveda and opens the door to significant growth opportunities that we are ready to capitalize on,” said W. Scott Boyes, Chairman, President and CEO of MPX International. “On the recreational side, we will be able to apply to provincial boards to provide fresh and dried cannabis directly into a high demand market that has been limited by supply constraints. On the medical side, we have a comprehensive growth strategy with all of the required elements in place so that we may begin to immediately execute on our plan to drive patient acquisition, revenue growth and shareholder value.”
The Medical Cannabis Learning Network (the “Medical CLN”) is expected to play a key role in the Company’s sales growth. This turnkey video learning and engagement platform can be accessed by patients via a secure online portal or at in-store kiosks found in medical clinics, pharmacies and the offices of natural health practitioners. Patients wanting to learn about various aspects of medical cannabis, including how products work and which formulations are most appropriate for them, are able to access fact-based information in a safe and compliant manner via the Medical CLN. They are also able to fulfill prescriptions for products from Licenced Producers, including Canveda.
In addition, the Medical CLN will assist Spartan Wellness Corporation (“Spartan”), which provides support services to veterans, with the conversion of its patients to Canveda, enabling better patient adherence and improved patient outcomes. Spartan is a wholly-owned subsidiary of MPXI.
The Canveda facility, located near Peterborough, Ontario, is a fully-licenced 12,000 square foot facility with annual production capacity of 1,200 kilograms.
“We are fully ready to roll out our Medical CLN. Providing people with fact-based information directly personal to them is a unique mechanism that supports patients, facilitates knowledge transfer, and helps drive patient acquisition. With marketing regulations limiting the ways in which to build brand awareness, we believe the Medical CLN is an excellent conduit to capture the attention of new potential medical cannabis patients,” said Michael Arnkvarn, Chief Operating Officer, MPXI Canada. “Furthermore, the CLN will enable us to more fully serve our already strong patient base through Spartan Wellness, which is dedicated to serving the medical needs of Canadian veterans and first responders.”
About MPX International Corporation
MPX International Corporation is focused on developing and operating assets across the global cannabis industry with an emphasis on cultivating, manufacturing and marketing products which include cannabinoids as their primary active ingredient.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, MPX International’s objectives and intentions. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in MPX International’s public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although MPX International believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, MPX International disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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SOURCE: MPX International Corporation
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Released July 29, 2019