TORONTO, ON--(Marketwired - October 11, 2016) - PharmaCan Capital Corp., doing business as Cronos Group (TSX VENTURE: MJN) ("Cronos Group" or "the Company") is pleased to announce that its wholly owned subsidiary, Peace Naturals Project Inc. ("Peace"), has shipped its first export of premium medicinal marijuana to Germany.
"This export marks an important milestone in Cronos Group's strategic global expansion and the beginning of a long, fruitful relationship between Peace and Pedanios GmbH ("Pedanios")," said Mike Gorenstein, Cronos Group's CEO. "We're passionate about providing top quality medicine to patients and are excited that, together with Pedanios, we will be able to deliver on our shared vision of compassionate care."
"With cannabis being approved for distribution in Germany and the forthcoming legislative changes in Germany to classify marijuana as a prescribable narcotic medicine, we believe that the need for product will grow fast and strong," said Patrick Hoffmann, Managing Director of Pedanios. "With German regulation only allowing distribution but not production within Germany, Pedanios is pleased to have found a high quality supply of cannabis from the Peace Naturals Project. This partnership enables us to introduce premium cannabinoid profiles to German patients."
"With the approval of Health Canada and German regulators, we are now able to help make German lives a little bit better," said Jeff Jacobson, Vice President of Corporate Operations at Peace. "We will continue to work tirelessly with Pedanios so that German patients have access to the same quality medicine that we deliver to our patients in Canada."
About Cronos Group
PharmaCan Capital Corp., known as the Cronos Group, is a holding company for licensed producers under Canada's Access to Cannabis for Medical Purposes Regulations ("ACMPR"). With interests in five licensed producers and three license applicants, Cronos Group is focused on building iconic brands providing patients with compassionate, personalized care.
Peace, a wholly-owned subsidiary of the Company, is licensed to produce up to 2,500 kg of medical marijuana per year and is located on 95-acres of land in Ontario. Peace's current grow facilities of approximately 38,000 square feet.
The Company's other wholly-owned subsidiary, In the Zone Produce Inc., is licensed to produce up to 100 kg of medical marijuana per year and is located on 31 acres of land in the Okanagan Valley, BC.
The Company also has stakes in: Whistler Medical Marijuana Corporation, ABcann Medicinals Inc., Hydropothecary, Evergreen, Vert Medical, and Cannmart.
For more information, please visit www.theCronosGroup.com.
About Peace
The Peace Naturals Project Inc. is a socially responsible company based on principles of integrity, transparency, security, compliance and environmental sustainability. It is the first non-incumbent applicant to be granted a license under the ACMPR and the first company licensed to retail medicinal Cannabis oils. Peace's therapeutic Cannabis strains are grown using natural production methods and our premium extracts contain no harmful solvents or by-products. Peace strongly believes in the notion of Whole Health living as a method of improving its clients' overall wellbeing. Peace's dedication to its clients' health includes providing them with informed, compassionate and reliable care.
For more information, please visit https://peacenaturals.com/.
About Pedanios GmbH
Pedanios GmbH is a German licensed pharmaceutical wholesaler within §52a of the Medicines Act and a licensed narcotics dealer within §3 of the Narcotics Legislation. In addition, Pedanios GmbH is licensed to import medicines under §72 of the Medicines Act. Pedanios maintains the welfare of patients as the central theme of the organization. For successful therapy in the fight against various diseases, Pedanios focuses attention on high quality drugs and works to minimize the expense for patients and cost of pharmacies.
Forward-looking statements
This news release may contain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements. This news release contains information obtained by the Company from third parties and believes such information to be accurate but has not independently verified such information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.