GrowPros Cannabis Ventures Inc.
CNSX : GCI

GrowPros Cannabis Ventures Inc.

March 03, 2016 08:30 ET

GrowPros Enters Into Joint Venture Agreement with MMPR License Holder Delta Nine Bio Tech

OTTAWA, ONTARIO--(Marketwired - March 3, 2016) - GrowPros Cannabis Ventures Inc. ("GrowPros" or the "Company") (CSE:GCI) is pleased to announce that it has entered into a multi-dimensional joint venture agreement with Canadian Marihuana for Medical Purposes Regulations ("MMPR") license holder Delta 9 Bio Tech ("Delta 9") located in Winnipeg, Manitoba.

As per the terms of the agreement, Delta 9 and GrowPros will provide mutual consultation services including, but not limited to, the collaboration on the operations of Delta 9's expanding production location in Winnipeg, Manitoba, and GrowPros' proposed production facility located in Low, Quebec.

"After discussion with multiple licensed producers under the MMPR, I am extremely happy to be moving forward with Delta 9 as our strategic partner. The Delta 9 management has displayed a like-minded approach to patient services evident by their continued commitment to low cost operations and pricing. We have identified many areas where Delta 9's two plus years as a fully licensed producer will benefit GrowPros moving forward", stated Ryan Brown, GrowPros Chief Executive Officer.

"Delta 9 is excited to begin collaboration with GrowPros. We see this as a positive step towards expanding our client base and production footprint into eastern Canada with a strong focus on Quebec. We have identified areas in both production and customer service where the GrowPros' team will be able to provide significant value to the Delta 9's operations as we strive to provide high quality low cost medicinal cannabis to Canadians under the MMPR", stated John Arbuthnot, Delta 9s Vice President and Operations Officer.

The companies expect to enter into a definitive agreement on or before March 15th, 2016 and will then provide a more detailed outline.

The Canadian Securities Exchange (CSE) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy.

Forward-looking statements

Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the inability of the Company, through its wholly-owned subsidiary, GrowPros MMP Inc., to obtain a licence for the production of medical marijuana; failure to obtain sufficient financing to execute the Company's business plan; competition; regulation and anticipated and unanticipated costs and delays, and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities. Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.

Contact Information

  • Ryan Brown
    Chief Executive Officer
    (613) 421-8402