TORONTO, Sept. 17, 2018 (GLOBE NEWSWIRE) — MPX Bioceutical Corporation (“MPX” or the “Company”) (CSE: MPX; OTC: MPXEF) today provided a short update on its GreenMart of Nevada NLV, LLC (“GreenMart NV”) operations.
GreenMart NV, which is 99% owned by MPX, is the focal point of the Company’s expansion strategy in Nevada. GreenMart NV’s fully-operational cultivation, production and kitchen facilities produce MPX-branded wholesale products for both the adult-use and medical markets in Nevada. The Company is committed to growing market share in Nevada by expanding GreenMart NV’s reach to include more consumers and patients. Future plans also include entering into the higher-margin retail arena by applying for at least two dispensary licenses in the Las Vegas market which will operate under the “Health for Life” brand. The Company remains pleased with the progress at GreenMart NV, and has no immediate plans to sell its 99% ownership stake in GreenMart NV.
The Company is issuing this announcement in response to confusion in the market caused by the sale of a different Nevada-based company, which has no affiliation with MPX or GreenMart NV, but which has a similar name to GreenMart NV.
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About MPX Bioceutical Corporation
MPX, through its wholly-owned subsidiaries in the U.S., provides substantial management, staffing, procurement, advisory, financial, real estate rental, logistics and administrative services to three medicinal cannabis enterprises in Arizona operating under the Health for Life (dispensaries) and the award-winning Melting Point Extracts (high-margin concentrates wholesale) brands. The successful Health for Life brand operates in the rapidly growing Phoenix Metropolitan Statistical Area. With the acquisition of The Holistic Center, MPX added another operating medical cannabis enterprise to its footprint in Arizona.
GreenMart of Nevada NLV, LLC (“GreenMart NV”) is an award winning licensed cultivation, production and wholesale business, licensed for both the medical and “adult use” sectors in Las Vegas, Nevada, and is already selling wholesale into the Nevada medical cannabis market. GreenMart NV has also optioned suitable locations and intends to enter the higher-margin retail arena by applying for at least two dispensary licenses in the Las Vegas market which will operate under the “Health for Life” brand.
In Massachusetts, MPX is building out and will operate a cultivation and production facility as well as up to three dispensaries and manages three full service dispensaries and one producer in Maryland.
In Canada, MPX has acquired Canveda, which has received its cultivation license from Health Canada, will operate a cultivation and production facility in Peterborough, Ontario. The Company also leases a property in Owen Sound, Ontario, for which an application to Health Canada has been made for a cannabis production and sales license. In addition, the Company will continue its efforts to develop its legacy nutraceuticals business.