TORONTO, ONTARIO--(Marketwired - Dec. 1, 2016) - Mettrum Health Corp. ("Mettrum" or the "Company") (TSX VENTURE:MT)
With reference to Mettrum's press release on November 1st, 2016, as a result of further testing and working with the full cooperation of Health Canada, Mettrum plans to voluntarily add a small number of additional product lots to the scope of its existing Type III voluntary withdrawal.
A voluntary Type III recall is defined by Health Canada as: a situation in which the use of, or exposure to, a product is not likely to cause any adverse health consequences.
Mettrum would like to re-affirm a statement made in the November 1, 2016 release that the financial impact on the Company is expected to be non-material to its fiscal 2017 results.
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 Access to Cannabis for Medical Purposes Regulations (Canada) issued pursuant to the Controlled Drugs and Substances Act (Canada) (the "ACMPR"), which came into effect on August 24th, 2016. Mettrum received its first license from Health Canada under the Marihuana for Medical Purposes Regulations (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. Mettrum is a leading producer and vendor of medical cannabis under the ACMPR system. In addition, through its wholly-owned subsidiary Mettrum Hempworks, Mettrum also is a licensed producer and distributor 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).
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation, including, without limitation, the estimated and anticipated impact on the Company's operations, financial results and information, efficiencies, access to markets, licenses and production capacities, as well as the anticipated dates of completion and impacts. 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, financial, operational, competitive, regulatory, 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 expressly disclaims 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.