RE:news out
Bedrocan gains Health Canada marijuana licence renewal
2014-12-03 07:11 ET - News Release
Mr. Marc Wayne reports
BEDROCAN RECEIVES LICENSE RENEWAL FROM HEALTH CANADA; TRANSITION TO DOMESTIC PRODUCTION ANTICIPATED IN Q2 2015
Bedrocan Cannabis Corp.'s wholly owned subsidiary, Bedrocan Canada Inc., has received notice from Health Canada effective Dec. 2, 2014, confirming the renewal of its licence allowing for the sale of up to an additional 240 kilograms of dried medicinal cannabis for one year from the effective date. This licence renewal comfortably positions Bedrocan to continue providing its patients with an uninterrupted supply of medicinal cannabis imported from its partner Bedrocan BV via the Dutch Ministry of Health, through the anticipated transition to domestic production expected in the second quarter of 2015.
The company is nearing completion of its new 52,000-square-foot production facility in the Greater Toronto Area with a capacity to produce up to 4,000 kilograms annually. The new site is expected to be ready for prelicence inspection by Health Canada by the end of 2014, at which time the company will seek approval for a new licence that would allow for the transition to domestic production.
"This is excellent news, as we remain on track for a smooth transition from our initial business strategy of importing medicinal cannabis produced by our partner in the Netherlands, to producing genetically identical, pharmaceutical-grade medicinal cannabis at our new state-of-the-art domestic facility," said Marc Wayne, president and chief executive officer of Bedrocan.
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