Vida Cannabis Corp.



Vida Cannabis Corp.

May 06, 2014 13:57 ET

Vida Cannabis Corp. Signs Design-Build Contract with Nova Scotia-Based Lindsay Construction

TORONTO, ONTARIO--(Marketwired - May 6, 2014) - Vida Cannabis Corp. ("Vida Cannabis") is pleased to announce that Lindsay Construction of Dartmouth, Nova Scotia has been retained to provide design-build services to Vida Cannabis (Canada) Ltd. ("Vida Canada") for its 300,000-plus-square-foot medical marijuana production facility in Stellarton, Nova Scotia.

Lindsay Construction is a well-respected company, active throughout the Atlantic Provinces, with expertise and experience in the design and construction of health care facilities, including the stringent technical requirements of a pharmaceutical-grade production facility such as Vida Canada's Stellarton facility.

The scope of the project includes a complete design-build of an initial 93,000 square feet of the building's full square footage, to be completed in two phases. Quantum 9, which has been retained to provide ongoing technical consulting services, will continue to consult on the workflow design and advise on the construction of the propagation areas.

The first phase of work has already started and is budgeted at approximately $3.5M. It encompasses design, engineering, interior and exterior level 10 security and capital improvements to the building, including a complete facelift with new façade, roof and entrance area. Interior construction will focus on the build-out of offices, employee welfare area, utility area, growing and process areas, secured storage and shipping and receiving areas.

Upon completion of this first phase of work, the next phase, budgeted at $5 million, will commence in order to ready the building to host a state-of-the-art hydroponic pharmaceutical-grade medical marijuana production facility. The design maximizes efficiencies at each incremental build-out of productive capacity to full-scale production, as market demand dictates.

Vida Cannabis CEO Greg Wilson stated: "It is important to Vida Canada to utilize the services of local area companies and individuals at every opportunity at our Stellarton facility, and our contract with Lindsay Construction is a significant development in following through with that priority. The list of projects for health care services that Lindsay has completed is impressive and reassuring in terms of their abilities and expertise."

About Lindsay Construction

Lindsay Construction is a company of engineers, contractors and managers, active in both civil and building construction throughout the Atlantic Provinces. Continuously in business since 1959, over this time Lindsay Construction has earned a reputation for performance, quality work and financial stability. Lindsay offers outstanding capabilities in the following building services: Design-Build, Construction Management, General Contracting, Trade Contracting and Service Work.

Building across the spectrum of civil, industrial, commercial and institutional construction, the company possesses a diversified capacity in large and small projects. Lindsay is unique in offering delivery of various specialized building systems including Tilt-Up Concrete, Pre-Engineered Metal Buildings, Nuform Building Systems, Conventional Steel, Wood Frame, Metal Cladding and EPDM Roofing. Project profiles, found throughout the company website at www.jwlindsay.ca, highlight just a few of over 4,200 major projects completed to date.

Lindsay understands the unique requirements of the health care sector from a construction perspective and the stringent technical requirements imposed on projects within functioning health care facilities. Lindsay has completed many projects for high profile facilities including the QEII Health Sciences Centre, Precision Biologic, Sepracor, Composites Atlantic, Shannex Nursing Home, Cobequid Centre, IWK and many others.

About Vida Cannabis Corp.

Vida Cannabis Corp. ("Vida Cannabis") is focused on developing a dominant production footprint in the rapidly developing global marketplace for the legal use of medicinal and recreational marijuana.

Initial operations are focused on the Canadian market where Health Canada has established national guidelines enabling best-in-class producers to acquire commercial production licenses under the Marihuana for Medical Purposes Regulations.

Via its wholly owned subsidiary, Vida Cannabis (Canada) Ltd., Vida Cannabis purchased a 300,000-plus-square-foot production facility in the town of Stellarton, Nova Scotia and secured a 50-year irrevocable approval unanimously from the local municipality to operate a medical marijuana production plant at the facility.

The highly secure facility boasts a fully engineered concrete floor, 18-foot-high concrete walls and a steel roof making it an ideal location for the construction of a customized, state-of-the-art modern medical marijuana production plant.

Vida Cannabis is working with one of the most experienced cannabis consulting teams in the world, Chicago-based Quantum 9 Inc., which has extensive resources in the United States, Canada and Europe, to establish an optimized end-to-end production plan to help position Vida Cannabis with the largest, most advanced medical marijuana facility in Canada.

Vida Cannabis continues to evaluate additional potential markets as regulatory bodies around the world pass legislation enabling the production and distribution of medicinal or recreational marijuana.

On behalf of the board,

Greg Wilson - Chairman & CEO

Vida Cannabis Corp.

Disclaimer

This announcement does not constitute or form part of, and shall under no circumstances be considered as, an offer to sell, a solicitation to purchase, or advice on investments in any securities of Vida Cannabis Corp. ("Vida Cannabis"). Offers and solicitations shall be expressly identified as such and made in compliance with applicable securities laws. This announcement is for information purposes only. It should not be relied upon as a basis for investment decisions. You should consult with your own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of any investments you are considering. Whilst the information provided here is believed to be reliable, it cannot be guaranteed. It may contain forward-looking statements made by or on behalf of Vida Cannabis about its business or financial objectives, position, strategies or expectations. Such forward-looking statements may be identified by words such as, or similar to, "intends," "anticipates," "believes," "expects" and "hopes" and includes, without limitation, the development of production facilities, approval from regulatory authorities and the ability for Vida Cannabis to obtain adequate financing to meet its business objectives. These statements involve inherent risks and uncertainties that could cause actual results to differ materially from those indicated. The statements in this announcement do not guarantee future performance. Vida Cannabis does not undertake any obligation to update any information provided in this announcement. In Canada, Vida Cannabis (Canada) Ltd., a wholly owned subsidiary of Vida Cannabis, must obtain approval from Health Canada in order to operate as a licensed commercial producer under the Marihuana for Medical Purposes Regulations. Vida Cannabis makes no representations or warranties that it will receive Health Canada approval.

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