Mettrum Health Corp.

November 03, 2014 07:00 ET

Mettrum Ltd. Receives Health Canada License Renewal Notice

TORONTO, ONTARIO--(Marketwired - Nov. 3, 2014) - Mettrum Health Corp. ("Mettrum" or "the Company") (TSX VENTURE:MT) (TSX VENTURE:MT.WT), parent company of Mettrum Ltd., a licensed producer of medical cannabis under the Marihuana for Medical Purposed Regulations (Canada) issued pursuant to the Controlled Drugs and Substances Act (Canada) (the "MMPR") and a vertically integrated agri-pharmaceutical company focused on research, development, production and distribution of medical cannabis products, is pleased to announce that the Company has received a notice from Health Canada dated October 31, 2014 confirming the renewal of its production license at the Company's production facility in Bowmanville, Ontario.

The renewed license will allow Mettrum to produce and sell up to 650 kilograms of medical cannabis per year. This initial license quantum exceeds Mettrum's current production requirements to supply its existing client base. Pursuant to the MMPR, licensed Producers in good standing can amend their license capacity as sales and production requirements increase.

"I am extremely pleased with our team's efforts and focus in running a highly professional operation within the highly regulated MMPR regime, including successful completion of multiple comprehensive Health Canada inspections, which has resulted in Mettrum successfully securing its first Health Canada license renewal," said Michael Haines, Chief Executive Officer of Mettrum Health Corp. "In-line with Health Canada's regulations and high standards, our top operational priorities will always encompass quality, safety and security at the center of everything we do, which allows us to build on our solid foundation for growth in a rapidly growing and evolving market."

About Mettrum Health Corp.

Mettrum Health Corp. is Tier 1 Industry Issuer listed on TSX Venture Exchange. Mettrum Ltd., the wholly owned subsidiary of the Company, is a Toronto-based company incorporated under the laws of the Province of Ontario and a licensed producer under the MMPR, which came into effect on October 1, 2013. Mettrum received its license from Health Canada on November 1, 2013 and began production of medical cannabis on the same date. Mettrum was the third company in Canada to receive a license under the MMPR. From its fully integrated medical grade facility located in Bowmanville, Ontario, Mettrum commenced sales of medical cannabis under the MMPR in January 2014.

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.

Contact Information