Enertopia & Lexaria’s Burlington Project Begins Screening Process
Ryan Allway
September 17th, 2014
News, Top News
[stockchart symbol=ENRT]
Enertopia Corp. [stockquote symbol=ENRT] (CSE: TOP), an aspiring producer of medical marijuana under Canada’s MMPR program, recently announced that its Burlington, Ontario application is in the Health Canada Preliminary Screening process after submitting its application in July 2014. The team has been in regular correspondence with the government agency throughout the process.
The Burlington project is a joint venture with Lexaria Corp. [stockquote symbol=LXRP] (CSE: LXX) that applied to produce 10,000 kilograms of medical marijuana per year as a licensed producer under Canada’s MMPR program. Enertopia has a 51% interested in the joint venture, while Lexaria has a 49% interest in the joint venture, as disclosed in an April 9, 2014 press release.
[stockchart symbol=LXRP]
While preliminary screening represents the first step in a seven step licensing process, the company has already requested a ready-to-build letter from Health Canada one the application has been accepted in a move that could expedite the fifth step. Management indicated that there are no specific process times for each step, but preliminary screening to ready-to-build letter could occur in as little as 90-120 days.
The joint venture has been active in the local community and received strong community and media support. In addition, the joint venture met with local police authorities and proposed that local police could conduct security and swat team training at the facility following its licensure. The two companies have also agreed to not knowingly sell medical cannabis with more than 0.3% THC to anyone under 21.
In late August, Lexaria announced new corporate policies regarding the responsible use of medical marijuana that established the 0.3% rule. The company aims to safely help people live healthy and productive lives while limiting any harm done by the potentially dangerous parts of marijuana. The limits are stricter than Canada’s alcohol laws and broadly in line with U.S. laws.
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About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.Disclaimer: Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.
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