James E. Wagner Cultivation Corporation (“
JWC” or
the “
Corporation”) (TSX VENTURE: JWCA; OTCQX:
JWCAF), is pleased to announce that on November 1, 2019, it entered
into a supply and manufacturing agreement (the
“
Agreement”) with CannaCure Corporation
(“
CannaCure”), a wholly-owned subsidiary of
Heritage Cannabis Holdings Corp., for the formulation and filling
of vape cartridges for Canadian recreational and medical cannabis
markets. The Agreement advances JWC’s commitment to become a leader
in the production of premium, single origin cannabis extract
products in Canada.
Under the Agreement, JWC will provide CannaCure with supporting
materials and a minimum of 100kg per month of aeroponically-grown
cannabis biomass. CannaCure shall process the delivered biomass
into products using their ‘direct to vape’ process, which maintains
the natural properties of the cannabis strain, and assures no
harmful additives are blended into the oil to be vaped. All
formulation, preparation and packaging procedures will be carried
out in compliance with applicable regulations. The Agreement with
CannaCure has an initial term of twelve months commencing on the
effective date of October 31st, 2019.
In preparation of entering into the market to supply vape
cartridges containing its quality products, JWC has sourced and is
using a manufacturer of quality vape cartridges certified to be
free of any heavy metal content. The products introduced by JWC
will be of premium quality.
“In a new industry like ours it can be difficult to find
experienced operators with a depth of knowledge in their chosen
area, which is why JWC is happy to have found in Heritage a skill
with extraction and formulation to match our own expertise in
cultivation,” said Nathan Woodworth, CEO of James E. Wagner
Cultivation. “We are confident that the future success of the
cannabis industry will be defined by the collaboration of uniquely
situated companies such as Heritage and JWC, who are able to
combine unique expertise to produce exceptional results.”
“We are pleased to be working with an industry-leading
cultivator that has a proven track record of producing some of the
highest quality cannabis on the market,” states Heritage Cannabis
CEO Clint Sharples. “We are confident JWC’s unique strains will
translate well into premium vape products in the marketplace.”
Pursuant to the Agreement, commercial activities have commenced
between both parties. Upon receipt of the initial shipment,
CannaCure will perform its obligations under the Agreement through
CannaCure’s modern extraction facility in Fort Erie, Ontario.
JWC remains on track to introduce its derivative line of
cannabis extract products in the first calendar quarter of
2020.
About James E. Wagner Cultivation
Corporation
JWC’s wholly-owned subsidiary is a Licensed
Producer under the Cannabis Regulations, formerly the Access to
Cannabis for Medical Purposes Regulations
(“ACMPR”). JWC is a premium cannabis brand,
focusing on producing clean, consistent cannabis. JWC uses an
advanced and proprietary Dual Droplet™ aeroponic platform named
GrowthSTORM™. JWC was founded as a family company and is based on
family values. JWC began as a collective of patients and growers
under the Marihuana Medical Access Regulations (the precursor to
ACMPR). Since its inception, JWC has remained focused on providing
the best possible patient experience. JWC’s operations are based in
Kitchener, Ontario. Learn more at www.jwc.ca.
For additional information about JWC,
please refer to JWC’s profile on SEDAR (www.sedar.com) or the
Corporation’s website: www.jwc.ca
About Heritage Cannabis Holdings
Corp.
Heritage Cannabis Holdings Corp. is a vertically
integrated cannabis provider that currently has two Health Canada
approved licenced producers, through its subsidiaries Voyage
Cannabis Corp. and CannaCure Corp. both regulated under the
Cannabis Act Regulations. Working under these two licences,
Heritage has two additional subsidiaries, Purefarma Solutions,
which provides extraction services, and BriteLife Sciences that is
focused on cannabis based medical solutions. Heritage as the parent
company, is focused on providing resources for its subsidiaries to
advance their products or services to compete both domestically and
internationally.
Notice regarding forward-looking
statements:
This press release contains statements including
forward-looking information for purposes of applicable securities
laws (“forward-looking statements”) about JWC and
its business and operations which include, among other things,
statements regarding production and delivery of cannabis biomass by
JWC to CannaCure, the manufacture of vape pens containing JWC’s
cannabis extracts, the sale of vape pens containing JWC’s cannabis
extracts in the Canadian recreational and medicinal cannabis market
and the timing of introduction of cannabis extract products by JWC.
The forward-looking statements can be identified by the use of such
words as “will”, “expected”, “approximately”, “may”, “could”,
“would” or similar words and phrases. Forward-looking statements
involve known and unknown risks, uncertainties and other factors
which may cause the actual results to differ materially from those
implied in the forward-looking statements. For example, risks
include risks regarding the cannabis industry, economic factors,
the equity markets generally, building permit related risks and
risks associated with growth and competition as well as the risks
identified in the Corporation’s Filing Statement available under
the Corporation’s profile at www.sedar.com. Although JWC has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results to differ from those
anticipated, estimated or intended. Readers are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release and are based on
current assumptions which management believes to be reasonable. The
Corporation disclaims any intention or obligation, except to the
extent required by law, to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
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.
For more information about this release, please contact
Nathan Woodworth, President & CEO of JWC Email:
nathan@jwc.ca Phone: (519) 594-0144 x421
OR
Investor Relations Jonathan Leuchs, CMA Email:
jwca@cma.team Phone: (949) 432-7566
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