Mettrum Health Corp.
TSX VENTURE : MT

Mettrum Health Corp.

November 02, 2016 08:00 ET

Mettrum Announces Renewal of Licenses

- All licenses at Bowmanville facilities renewed

- Total sales and production capacity increased to 5,600 kilograms per annum

- Phase 2 expansion in Bowmanville on schedule for completion this fiscal year

TORONTO, ONTARIO--(Marketwired - Nov. 2, 2016) - Mettrum Health Corp. ("Mettrum" or the "Company") (TSX VENTURE:MT), a vertically integrated provider of cannabis products, is pleased to announce the renewals of its sales and production licenses at its two Bowmanville facilities. Following these license renewals, Mettrum's Company-wide total licensed sales and production capacity stands at 5,600 kilograms per annum.

The Company is also pleased to announce that the phase 2 expansion at its 60,000 square foot state-of-the-art production facility in Bowmanville ("Bowmanville South") is on track and will double its production capacity to approximately12,000 kg before the end of the fiscal year ending March 31, 2017.

"Our ample capacity to service the needs of our growing client base combined with the expansion of our Bowmanville South facility leaves us very well positioned for growth within this exciting accelerating medical cannabis market and prepared for the recreational cannabis market in the future," said Michael Haines, Chief Executive Officer of Mettrum.

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 Marihuana for Medical Purposes Regulations (Canada) issued pursuant to the Controlled Drugs and Substances Act (Canada) (the "MMPR"), which came into effect on October 1, 2013. Mettrum received its first license from Health Canada under the MMPR 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 under the MMPR on December 11, 2014 for its other wholly-owned subsidiary, Agripharm Corp., at Mettrum Creemore facility in Clearview, Ontario. Mettrum received its third license from Health Canada under the MMPR 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 MMPR 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).

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.

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