Important achievement by the company as it rolls out production internationally
"MPXI" or the "Company") (CSE:MPXI; OTC PINK:MPXOF) announced that its wholly-owned subsidiary, MPX Australia Pty. Ltd. ("MPX Australia"), has been awarded a Medicinal Cannabis Licence from the Australian Office of Drug Control ("ODC").
The licence authorizes MPX Australia to undertake certain activities at the company's 70,000 sq. ft. site under construction in Launceston in Tasmania including:
The cultivation of cannabis plants for producing cannabis or cannabis resin for medical purposes.
The production of cannabis or cannabis resin for medical purposes.
Activities related to the cultivation or production of cannabis including, but not limited to, obtaining cannabis plants, packaging, transport, storage, testing, possession and control of all resulting cannabis products as well as the supply of all cannabis plants, cannabis or cannabis resin.
"This regulatory approval is a significant milestone for our operations in Australia and is a testament to our dedication to operating in real-time and our ability to execute on our strategy," said W. Scott Boyes, Chairman, President and CEO of MPX International. "Australia provides an important gateway for MPXI into both the Oceania and Asia-Pacific markets, and we are thrilled to receive this licence, signalling another step forward in our business there."
"MPX Australia provides the company with a strong foothold in a new and burgeoning market," said Tibor Vertes, Executive Director of MPX Australia. "The number of medical cannabis patients is growing steadily in Australia and with MPX Australia's focus on producing high quality products for the domestic market, we are positioning the company in a first-mover position, creating increased brand awareness amongst Australians and possibly building a future export gateway to the Asia-Pacific region."
Upon receipt of the Medicinal Cannabis Licence, MPX Australia has achieved Milestone #1, being the granting of a medicinal cannabis license (cultivation and production) in Australia in accordance with the Narcotic Drugs Act 1967 (Cth).
In addition, further to the Company's press release dated July 23, 2019, MPXI will issue 2,689,189 common shares ($1,250,000) at a price of $0.46 per share.
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."