HARVEST ONE'S WHOLLY OWNED SUBSIDIARY UNITED GREENERIES RECEIVES ACMPR SALES AND DISTRIBUTION AMENDMENT FROM HEALTH CANADA
Harvest One Cannabis Inc., (HVST.V) through its wholly owned subsidiary United Greeneries Ltd., has received the amendment to sell dried marijuana to registered patients by Health Canada under the Access to Cannabis for Medical Purposes Regulations (ACMPR).
United Greeneries has previously received the authorization to cultivate cannabis under the ACMPR in June, 2016, and commenced growing operations in December, 2016, after the successful importation of 32 commercial cannabis varieties from Europe.
United Greeneries currently has 220 kilograms of dried cannabis buds in storage for immediate sale and has a strategic wholesale agreement with CannTrust Holdings Inc. in place for the first year of its production, while the company is setting up a distribution platform for the recreational cannabis market in Canada.
Andreas Gedeon, managing director and chief executive officer, commented: "The authorization to sell under the ACMPR was the final and crucial missing piece for United Greeneries on the regulatory pathway to becoming a fully licensed producer under the ACMPR. With operations in place, immediate revenue secured and expansion in progress, management can now focus on the go forward strategy to manifest Harvest One as a leading player in the international cannabis industry."
About Harvest One Cannabis Inc.
Harvest One controls operations across the entire cannabis value chain through three business units, with Harvest One serving as the umbrella company over horticultural arm United Greeneries and medical arm Satipharm AG. Each business is strategically located in favourable jurisdictions with supportive regulatory frameworks in place. United Greeneries has received a Canadian medicinal cannabis cultivation licence, making Harvest One one of only a few companies globally with the capacity to commercially cultivate cannabis in a federally regulated environment