Health Canada Issues Cannabis Cultivation License to MMJ Phytotech Subsidiary

United Greeneries MMJ PhytotechHealth Canada continues to add licensed producers (LPs) to its federal medical cannabis program, Marihuana for Medical Purposes Regulations (MMPR), naming United Greeneries to the approved list today.  The move marks the second approval this month, with Canada’s Island Garden added on June 16th.  Other 2016 additions have included 7 Acres, which is part of publicly-traded Supreme Pharma (CSE: SL) (OTC: SPRWF) and was formerly named AMMCan, Green Relief, publicly-traded THC Biomed (CSE: THC) (OTC: THCBF) and WeedMD.

United Greeneries is one of three units of publicly-traded MMJ Phytotech (ASX: MMJ), which also owns Satipharm, based in Switzerland, and PhytoTech Therapeutics, based in Israel. According to the company’s website:

United Greeneries is the Canadian based subsidiary of MMJ PhytoTech. It currently owns two state-of-the-art medical grade cannabis cultivation facilities, the Duncan Facility and the Lucky Lake Facility, with a combined footprint of 78,000ft².

The Duncan Facility and Laboratory is a 16,000ft² building with a level-8 vault, 3 bays and close to 10,000ft² of cultivation area. The facility is completely built out and is located on Vancouver Island in Duncan, British Columbia. Duncan has an integrated fully compliant QA/QC (Quality Assurance and Quality Control) laboratory for internal testing as well as third party testing services as required by Health Canada. The Duncan Facility will be able to produce up to 700kg of Medical Grade Cannabis per annum once granted an MMPR (Marijuana for Medical Purposes Regulation) production license, which the Company expects to occur in the second half of 2015.

AgriChem Analytical is part of the United Greeneries operation. It provides state-of-the-art biochemical quality control testing and Cannabinoid analytics, as required under the Canadian MMPR (Marijuana for Medical Purposes Regulation). AgriChem Analytical is directly integrated with United Greeneries’ Duncan cultivation facility. These services play an essential role in furthering Cannabinoid drug development and continuous compliance with MMPR quality requirements.

Shares of MMJ Phytotech were halted yesterday in advance of the announcement. Trading is expected to resume tomorrow.

Here is the complete list of the 33 cultivation and sales licenses issued by Health Canada:

United Greeneries Health Canada

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Breaking News by Alan Brochstein, CFA
Alan Brochstein, CFA
Based in Houston, Alan leverages his experience as founder of online communities 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email

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