Peace Naturals Project Inc. Becomes First MMPR Licensed Producer to Receive Health Canada Issued License Renewal

TORONTO, ONTARIO--(Marketwired - Oct. 28, 2014) - The Peace Naturals Project Inc., a licensed producer under Canada's federal Marihuana for Medical Purposes Regulations has received the first Health Canada issued license renewal on Friday October 24, 2014.

The Marihuana for Medical Purposes Regulations (MMPR), which began officially in October 2013, grants Canadians access to medicinal Cannabis by way of a prescription from their health care practitioner. Since the MMPR began, thirteen companies from across Canada have been published on Health Canada's website as Licensed Producers, able to produce and distribute medical Cannabis to those Canadians who qualify under the new regulations.

Peace Naturals Project Inc. received Health Canada's first newly issued license under the MMPR program on October 29, 2013. The company has helped shepherd this new industry and currently represents a large share of the Canadian medical Cannabis market. "This has been an incredible journey so far," says Mark Gobuty, CEO & Founder of Peace Naturals Project Inc. "With the Regulator's help, we have truly set the framework for what is 'The New Cannabis in Canada' with a well though-out approach to consumer safety, efficacy and harm reduction in all aspects of operation. The MMPR has the opportunity to be the gold standard for the emerging global medicinal Cannabis industry."

As the 2013 MMPR issued licenses had a one-year term, the cycle now begins through which Licensed Producers will undergo their in-depth Regulator inspections to determine if in fact those companies have been committed to the overall success of the program by maintaining and following their stringent Quality Assurance Manuals and Operating Procedures. Peace Naturals Project Inc., which recently underwent a multi-day 'audit' of their records and protocols, has now been granted the first issued MMPR license renewal.

"We look forward to a very bright and exciting 2015. As we come to the completion of a 40,000 square foot expansion and begin plans for further development in Spring of next year, we prepare for a new scale of medicinal Cannabis manufacturing and we are committed to the compassionate application and availability of medicine for those Canadians in need," says Jeff Jacobson, Vice President of Corporate Operations for Peace Naturals Project Inc.

The company is committed to continuous improvement and the overall success of what is truly an industry to watch.