VICTORIA, BC, March 31, 2015 /CNW/ - T-Bird Pharma Inc.
(TSXV:TPI) ("T-Bird" or the "Company"), a
pharmaceutical company focused on developing premium quality
medical marijuana products and a licensed producer ("LP") to
cultivate marijuana under the Marihuana for Medical Purposes
Regulations (Canada) ("MMPR"), is
pleased to announce that it has received notice from The
Corporation of the District of Saanich confirming the final rezoning approval
of the Company's premises which now allows for commercial
distribution of medical marijuana under the MMPR.
Saanich Council, at their meeting on March 23, 2015, gave final reading and adoption
to "ZONING BYLAW, 2003, AMENDMENT BYLAW, 2014, NO.9308" and "ZONING
BYLAW, 2003, AMENDMENT BYLAW, 2015, NO. 9309", the effect of which
is to add a new definition for medical marihuana production and
distribution, and to amend zone M-3 (industrial park) to permit
that use on Strata Lot 1, Section 100, Lake District, Plan VIS4905
(Unit 101-4226 Commerce Circle).
"We are excited to have the rezoning of our premises finalized
and thankful for the support of Saanich Council, said Dr.Bin Huang,
CEO of T-Bird. "This is a significant step as we work
towards commercialization and securing a sales license under the
MMPR."
About T-Bird and Thunderbird
T-Bird Pharma Inc. is the parent company of Thunderbird
Biomedical Inc., a wholly owned private subsidiary formed in
January, 2013. The principal activities of Thunderbird are
the production of marijuana from its Victoria, British Columbia production
facility, as regulated by the Marihuana for Medical Purposes
Regulations (Canada).
Thunderbird obtained a medical marijuana license to undertake the
production of medical marijuana in February
2014, being the fifth company in Canada to obtain such a license.
Thunderbird was acquired by T-Bird in September, 2013.
ON BEHALF OF THE BOARD
"David J. Raffa"
Chairman
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.
Cautionary Statements Regarding Forward Looking Information
Certain statements in this press release constitute
forward-looking statements, within the meaning of applicable
securities laws. All statements that are not historical
facts, including without limitation, statements regarding future
estimates, plans, programs, forecasts, projections, objectives,
assumptions, expectations or beliefs of future performance, are
"forward-looking statements".
We caution you that such "forward-looking statements" involve
known and unknown risks and uncertainties that could cause actual
and future events to differ materially from those anticipated in
such statements.
Forward-looking statements include, but are not limited to,
statements with respect to commercial operations, including
production and sales of medical marijuana, anticipated revenues,
projected size of market, quantities of future medical marijuana
production, completion of production facilities and other
information that is based on forecasts of future results, estimates
of amounts not yet determinable and assumptions of management.
T-Bird Pharma Inc. (the "Company") does not intend, and does not
assume any obligation, to update these forward-looking statements
except as required by law. These forward-looking statements involve
risks and uncertainties relating to, among other things, results of
production and sale activities, the Company's historical experience
with medical marijuana operations, uninsured risks, regulatory
changes, availability of production facilities, timeliness of
government approvals and the granting of permits and licenses,
changes in prices, actual operating and financial performance of
facilities, equipment and processes relative to specifications and
expectations. Actual results may differ materially from those
expressed or implied by such forward-looking statements.
SOURCE T-Bird Pharma Inc.