Mettrum Secures Twenty-Fold Incremental Land for Growth

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$432/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Mettrum Secures Twenty-Fold Incremental Land for Growth

Agripharm leased land increases from one acre to twenty acres

Mettrum solidifies path to production capacity of 50,000 kilograms per annum by 2019

TORONTO, ONTARIO--(Marketwired - Nov 17, 2016) - Mettrum Health Corp. ("Mettrum" or the "Company") (TSX VENTURE:MT), a vertically integrated provider of cannabis products, is pleased to announce that through one of its wholly owned entities, Agripharm Corp. (the "Tenant") has entered into a lease agreement (the "Agreement") with Miller Agriculture Ltd. (the "Landlord") to increase land available for growth from one acre to twenty acres.

"Given the continued and rapid increase in demand for our products, which has resulted in Mettrum's significant revenue and patient growth over the past number of quarters, we are always planning forward and ensuring to have ample growth capacity for the future," said Michael Haines, CEO of Mettrum Health Corp. "By increasing the availability of land at Agripharm by twenty times, combined with the availability of production capacity at our state-of-the-art production facility in Bowmanville, we are on track to achieve our objective of 50,000 Kilogram capacity by 2019 and well positioned to service the rapidly growing and evolving cannabis market." Because the leased property is contiguous with the existing Agripharm facility, Mettrum will not need to apply for a new, separate license to expand its production on this new property.

About Mettrum Health Corp.

Mettrum Health Corp. is a Tier 1 Industry Issuer listed on TSX Venture Exchange. Mettrum Ltd., a wholly owned subsidiary of the Company, is a Toronto-based company and a licensed producer of medical cannabis under the Access to Cannabis for Medical Purposes Regulations (formerly the Marihuana for Medical Purposes Regulations) issued pursuant to the Controlled Drugs and Substances Act (Canada) (the "ACMPR"). Mettrum received its first license from Health Canada on November 1, 2013 and began production of medical cannabis at its first production facility in Bowmanville, Ontario. Mettrum received its second license from Health Canada on December 11, 2014 for its other wholly-owned subsidiary, Agripharm Corp., at the Mettrum Creemore facility in Clearview, Ontario. Mettrum received its third license from Health Canada on December 17, 2015 for Mettrum Ltd. at its new 60,000 square foot production and distribution facility in Bowmanville, Ontario. With the Company's three licenses, Mettrum is a leading producer and vendor of medical cannabis under the ACMPR system. In addition, through its wholly-owned subsidiary Mettrum Hempworks, Mettrum also is a licensed producer and distribution of industrial cannabis (hemp) products, including Mettrum's functional food line, Mettrum Originals™, under the Industrial Hemp Regulations (Canada) issued pursuant to the Controlled Drugs and Substances Act (Canada).

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the results of operations. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company and Mettrum disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press release.

Mettrum Health Corp.
Ali Mahdavi
Director, Investor Relations
416.962.3300
[email protected]

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).