Final Submission prior to Cultivation License Approval
September 26, 2018 – Edmonton, Alberta, Canada - ATLAS GROWERS LTD. (“Atlas” or the “Company”), a wholly owned subsidiary of Atlas Biotechnologies Inc., announces the submission of its Affirmation of Readiness and Video Evidence Package (“Evidence Package”) to Health Canada. The submission of the Evidence Package is the final step related to the receipt of a cultivation license from Health Canada under the Access to Cannabis for Medical Purposes Regulations (ACMPR). The submission of the Evidence Package is a significant achievement for Atlas in its preparation to become a leading provider of medicinal cannabis.
President and Chief Executive Officer Sheldon Croome states; “We are extremely pleased to have submitted the required documentation to Health Canada to produce medicinal cannabis. With the completion of our state-of-the-art medicinal cannabis facility, development permits for up to 1,000,000 square feet of cultivation expansion (which utilizing proprietary technologies could be configured into 2,000,000 square feet of growing capacity) and recent additions to our Advisory Board with related experience in research and development, regulation and import and export, Atlas is well positioned to be a global leader in the cannabis industry.”
Health Canada inspections are conducted to assess and monitor compliance with the ACMPR, Controlled Drugs and Substances Act (CDSA) regulation and the Food and Drugs Act (FDA), as they apply to cannabis for medical purposes. It is anticipated that new cultivation licenses for the industry will be granted after October 17, 2018, the specified date for legalization of cannabis in Canada.
About Atlas Growers Ltd.
Atlas is based in Edmonton, Alberta, Canada and is a wholly owned subsidiary of Atlas Biotechnologies Inc. Atlas expects to receive its sales license by the end of 2018. Atlas’ initial purpose-built 38,000 square foot facility is in the final stages of equipping the growing rooms and labs and will have the capacity to produce approximately 5,000 kg of dried cannabis annually as well as to refine cannabis concentrates. Further, the 160-acre Atlas site could allow for significant future expansion of Atlas’ cultivation capacity. Atlas is well financed and has a currently unutilized $6.25 million bank facility in place with ATB Financial.
For further information contact:
Jeffrey R. Gossain, P. Eng.
Vice President of Operations
Graeme Dick, BMgmt
Colwell Capital Corp.