/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./
Indiva Limited (the “Company” or “Indiva”) (TSXv:NDVA) (US:NDVAF) is pleased to provide an update on the design of its extraction facility in London, Ontario.
As previously announced, Indiva is working with Lucid Lab Group to design, construct and commission an ethanol-based extraction operation at Indiva’s facility in London, Ontario. Indiva is pleased to report that the design is now complete, and the result is annual expected biomass capacity of some 70 tonnes and resulting distillate capacity of over 4 million grams. This capacity represents a multiple of what Indiva will initially require for internal needs. The capital cost of the extraction equipment is estimated at US$1.4 million, is fully funded, and provides ample capacity to produce the wide spectrum of derivative and edible products licensed from Bhang and DeepCell, as well as Indiva branded product, subject to receipt of applicable regulatory approvals. This extraction capacity also opens the door to the possibility of producing distillate for licensed third parties through partnerships or joint-ventures which could add a substantial revenue to stream to Indiva’s business.
“Indiva’s plan to perform extraction on site in order to complement third party extraction services is founded in our commitment to provide high quality oils, concentrates and edibles to our patients and clients when permitted under Canadian law. We are delighted with the work Lucid Lab Group has completed, and the tremendous excess extraction capacity opens the door to several options to grow our revenue base and lower our unit costs,” said Niel Marotta, President and CEO of Indiva. “We will be ready to offer edible products once regulations allow LPs to do so, and this facility gives Indiva room to grow its business in London for years to come.”
About IndivaIndiva aims to become a house of global marijuana brands, recognized for high quality cannabis products. Indiva’s wholly owned subsidiary is licensed under the Cannabis Act. As marijuana laws liberalize in Canada and internationally, Indiva will expand its product offering to include safe edibles and other client-friendly cannabis products. In Canada, Indiva will produce and distribute Ruby Cannabis Sugar, Sapphire Salt, Ruby Gems, as well as award winning Bhang Chocolate and other derivative products through license agreements and joint-ventures respectively. In addition, as marijuana laws liberalize internationally, Indiva will use its Canadian operations as a platform to open new markets for its cannabis products.
DISCLAIMER & READER ADVISORYNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the Transaction and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to future product offerings, future entry into additional markets, changes to laws and regulations in Canada and internationally, and compliance with applicable regulations. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the parties being able to obtain the necessary regulatory and other third parties approvals and licensing and other risks associated with regulated entities in the cannabis industry. The forward looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
SOURCE Indiva Limited
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2019/11/c2910.html
SOURCE: Indiva Limited
Niel Marotta, CEO, INDIVA, Phone: 613-883-8541, Email: email@example.com; Steve Low,Investor Relations, Phone: 647-620-5101, Email: firstname.lastname@example.org