Alta Vista provides info on MMPR target RedeCan Pharm 2015-12-08 10:33 ET - News Release
Mr. Ian Foreman reports
ALTA VISTA PROVIDES ADDITIONAL INFORMATION ON MMPR TARGET
Alta Vista Ventures Ltd. has provided additional information on RedeCan Pharm, one of Canada's 20 MMPR (Marijuana for Medical Purposes Regulations) cultivation and sales licences that Alta Vista has the right to purchase a 100-per-cent interest in (see news release dated Nov. 27, 2015).
Redecan Pharm is located in the heart of the Niagara peninsula in Southern Ontario and currently utilizes 15,000 square feet of greenhouse space. RedeCan Pharm received its cultivation licence in June, 2014, and was then issued its licence to sell dry cannabis to medical patients across the country in March, 2015. RedeCan's licence is currently for the cultivation and sale of up to 317 kilograms of dried marijuana annually. Production amounts can be increased at any time to supply future demands by submitting an amendment to the licence. According to RedeCan's files, its average cost per gram is approximately 73 cents. Key factors that contribute to RedeCan's low cost are: low requirements for electricity due to growing in a greenhouse, access to fresh well water, augmented heat with natural gas and biofuel incinerator, and maintaining a small, dedicated staff. RedeCan is currently offering the following 11 strains: Strawberry Cough, Moby D*ck, Diesel, OG Kush, Shaman, Blue widow, White widow, CBD Kush, Orange Hill Special, Mazar and Critical Jack.
In addition, RedeCan has the following strains that are awaiting testing and will be released in the near future for patients to order: Polar Light, Blue Cheese, Bubba Kush, Sweet Tooth, CBD Shark Shock, Pineapple Chunk, OG Kush and Bubblegum. RedeCan has been turning its focus to producing high-cannabidiol-content strains. Health Canada has restricted the allowable tetrahydrocannabinol content in oils and extracts to a maximum of 3 per cent tetrahydrocannabinol; however, there is no restriction on the cannabidiol content in oils. RedeCan is in the process of submitting its application for an oils and extracts licence. The timing of receiving a licence for oils and extracts is unknown.
RedeCan's operation has sufficient room within the current confines of its secured perimeter to add up to an additional 7,500 square feet of cultivation area. In addition to this, there is the potential for additional expansion as the licensed facility is located on a privately owned 30-acre parcel of land. Any potential expansion of the operation will be dictated by the number of patients.
Investors are cautioned that the data contained in this news release are provided to the company by RedeCan and is subject to confirmation by the company during its continuing due diligence of RedeCan.