Mettrum Health Corp.

Mettrum Health Corp.

August 24, 2015 08:30 ET

Mettrum Receives Health Canada Approval to Increase Sales Capacity to 2,400 Kilograms

Agripharm's Licensed for Dried Cannabis Production and Sales Capacity Increases to 1,200 Kilograms

TORONTO, ONTARIO--(Marketwired - Aug. 24, 2015) - Mettrum Health Corp. ("Mettrum" or the "Company") (TSXV:MT)(TSXV:MT.WT), a vertically integrated agri-pharmaceutical company focused on research, development, production and distribution of medical cannabis products, is pleased to announce that Health Canada has approved the amendment to produce and sell dried cannabis at its Agripharm ("Mettrum Creemore") facility, for up to 1,200 kilograms. Health Canada also approved the amendment to increase sales capacity to 2,400 kilograms at its Bowmanville facility, representing a 100 percent increase.

The amendment at Mettrum Creemore provides the Company with the ability to grow, harvest and process dried cannabis at Mettrum Creemore and transfer dried cannabis to its Bowmanville facility. The Company's Bowmanville facility, is now licensed to sell up to 2,400 kilograms of dried cannabis. Previously, Mettrum Creemore was strictly licensed to only produce mature cannabis plants, which would be transferred to Bowmanville for harvesting, drying, trimming and packaging for sale.

"This amendment is a major milestone, and the final regulatory step we required to bring Mettrum Creemore to a fully integrated production and sales facility. This also positively impacts our ability to maintain the pace at which we have been onboarding new clients," said Michael Haines, President and CEO of Mettrum Health Corp. "Since July 20, 2015, when an additional 33 rooms were approved for production, we have installed entirely new, state of the art, irrigation and environmental control systems which will solidify our position as a market leader in terms of product quality and increase our overall production efficiency as we continue to ramp up client registrations and sales."

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 first license from Health Canada on November 1, 2013 and began production of medical cannabis on the same date at its first production facility in Bowmanville, Ontario. Mettrum received its second license from Health Canada on December 11, 2014 for its acquired Agripharm facility in Clearview, Ontario. With the Company's two licenses, Mettrum is a leading producer and vendor of medical marijuana under the MMPR system.

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