TORONTO, ONTARIO – (February 14, 2018) – LIVEWELL FOODS CANADA Inc. (“LW“, “LiveWell Foods” or the “Company“) is pleased to announce it has received approval today from Ottawa City Council to turn its existing 540,000 square feet greenhouse (the “Ottawa Project”) into a cannabis production facility, eventually bringing hundreds of jobs to the area.
Ottawa Project Overview:
- The Ottawa Project is owned by LiveWell’s wholly owned subsidiary Artiva Inc. (“Artiva“).
- The project will retrofit 540,000 square feet of existing greenhouses that sit on 100 acres of farmland, in the region of Metcalfe, near Greely.
- The retrofit will begin immediately to complete the first phase of the project (57,000 square feet) with an anticipated completion date in Q2 2018.
- As noted in a prior release dated July 7, 2017, an application has already been submitted to Health Canada to become a licensed cannabis producer under the Access to Cannabis for Medical Purposes Regulations (ACMPR) for the Ottawa Project.
- The application is currently in the Review and Security Clearance stage.
In addition, LiveWell plans to make exclusive use of its proprietary extraction and isolation processes to develop whole plant oils from cannabis for sale in Canada’s regulated cannabis market. LiveWell will also use the technology to isolate cannabinoids from lower value feedstock, thus creating high quality, high purity isolates. Isolates are an integral component for manufacturing precise dosed medicinal and potential future recreational infused and edible products and will be important once approved within Canada’s legal regulatory framework.
Says Peter Abboud, LiveWell Co-CEO, “We are absolutely delighted that city council is supporting our plan to bring our project and hundreds of jobs to rural Ottawa. The farm was in my family for almost 25 years, and as we transition from cucumbers to cannabis and hemp, I couldn’t be happier that LiveWell will be using its technology, research and innovation to advance our knowledge of the health benefits of the products we will be producing.
LiveWell Foods Canada Inc. (Ottawa, Canada) is dedicated to the highest quality standards in delivering cannabis and hemp products. LiveWell is planning to retrofit an existing 540,000 square foot greenhouse facility in Ottawa, Ontario. LiveWell will also be constructing a state of the art Global Innovation Centre and 600,000 square foot Cannabis Cultivation and Processing facility in Litchfield, Quebec. Upon completion, the combined will measure 1,140,000 square feet of greenhouse capacity, all built to an unparalleled level of quality assurance, procedures, and testing. The company has established partnerships with leading sector names, with interests and operations abroad. LiveWell also distributes retail and bulk hemp products under the O-Hemp brand and plans to distribute cannabis edibles and infused products.
On behalf of the Board of Directors,
LIVEWELL FOODS CANADA INC.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “plan”, “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The forward-looking information contained in this press release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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