SOL Global Portfolio Company 3 Boys Farm Obtains GMP and GAP Certifications for Its Florida Cannabis Cultivation and Processing Facility in Ruskin
September 15th, 2019
TORONTO, Sept. 12, 2019 /CNW/ – SOL Global Investments Corp. (“SOL Global” or the “Company“) (CSE: SOL) (OTCQB: SOLCF) (Frankfurt: 9SB) is pleased to announce that 3 Boys Farms, LLC (“3 Boys Farm“), which owns and operates one of the original fourteen (14) medical marijuana treatment center licenses in Florida, has obtained Good Agricultural Practices-Farm (GAP) and Good Manufacturing Processing (GMP) approvals for its state-of-the art cannabis cultivation facility in Ruskin, Florida with 100% scores on both. SOL Global completed its acquisition of 3 Boys Farms in April 2019 through the closing of its purchase of CannCure Investments Inc., and has invested over $8 million dollars USD to upgrade both the operations team and facilities to scale up for a statewide launch of cannabis medicine via its proprietary home delivery system and retail dispensaries.
“A big congratulations is in order to the 3 Boys operations and cultivation team, who in the span of less than five (5) months worked tirelessly to upgrade the Ruskin facility to meet and exceed GAP and GMP industry standards,” said SOL Global’s interim chair Brady Cobb. “These certifications will allow us to deliver the best possible cannabis flowers and products to Florida’s medical patients. Our model in collaboration with GMP and GAP certifications allows 3 Boys Farm to literally be the only cannabis cultivator in the state using organic living soil while following strict organic principles in all practices.”
ASI, which is accredited by the American National Standards Institute as an SQF Certification Body, conducted the audit for 3 Boys Farm on September 3rd 2019 and found the facility met the highest possible global food and farm safety standards.
Update on 3 Boys Farm Operations
Recent investments from SOL Global and its majority-owned subsidiary CannCure Investments Inc. (“CannCure“) financed the Ruskin facility’s development of modern equipment, including full air-conditioning of its four (4) greenhouses and substantial power upgrades for continued expansion.
Covering 24,000 square feet, the Ruskin facility includes three flowering greenhouses, a vegetative greenhouse, propagation and seedling space, and high grade harvesting and post-harvest production areas. Led by expert cultivator Chris Keller, who previously oversaw the cultivation of Denver-based extracts company Incredibles and has been growing cannabis for 25 years, the cultivation team has recruited featured key industry players, including Mike ‘P-Bud’ Nee, one of the originators of the Chemdog cultivar. As Director of Cultivation, Chris is joined by 3 Boys’ leadership team of seasoned cannabis experts, plant scientists, chemists, and manufacturing and logistics specialists.
Additionally, the operations team includes Director of Retail Operations Mike Smuts, a cannabis industry veteran with leadership experience in all aspects of vertically integrated cannabis companies spanning 10 years in Colorado and Florida markets. Mike also serves on the Florida Department of Agriculture’s Medical Marijuana Advisory Committee.
Kevin Symanski, Director of Operations, has 30 years of supply chain and logistics expertise. Kevin’s major accomplishments include the development and success of a one million (1MM) square foot supply chain operation as well as proven track record of startup operations. Kevin’s success stories include experience at Coca-Cola, FedEx, and UPS.
Charles Bailey, Operations Manager, has been with company since pre-licensure and has led the company’s GMP and GAP initiatives, and oversees inventory and compliance controls throughout the vertical operation. Charles has a degree in Plant Science with a concentration in Greenhouse Management from University of Tennessee Chattanooga.
3 Boys also launched its proprietary statewide delivery model in July of 2019, and currently has a fleet of thirteen (13) vans and trucks making statewide delivery of our best in class cannabis flower to Florida’s patients. As this delivery system has been rolled out, revenue and patient count for 3 Boys Farm has increased consistently on a week-by-week basis to rave reviews from customers. This signals strong growth opportunities for 3 Boys Farms as they launch their first retail dispensaries and an expanded product offering that includes distillates and firmly established brands via exclusive license agreements. 3 Boys Farm’s first two (2) stores are anticipated to open before the end of October 2019 in St. Petersburg and Boynton Beach, respectively, and a total of six (6) locations expected to be open by the end of 2020. 3 Boys Farm will have a total of twenty (20) locations open by the end of 2020. The launch of new product offerings and dispensary openings remain subject to the receipt of all required governmental approvals.
In April 2019, 3 Boys Farm’s new state-of-the-art extraction and processing facility in Indiantown, Florida received approval from the State of Florida’s Department of Health, Office of Medical Marijuana Use (“OMMU“) to begin processing and dispensing, via home delivery, its premium cannabis flower and pre-rolled products. The current 2,500 square foot processing and extraction facility has been fully operational since approval and has created thousands of grams of high quality oils and distillates, and processed hundreds pounds of cannabis flower. The new 50,000 square foot greenhouse facility is expected to be fully operational by January 2020, subject to the receipt of all required governmental approvals and will support additional store openings across Florida as 3 Boys Farm scales up to serve the rapidly growing Florida medical cannabis marketplace.
In September of 2019, 3 Boys Farm also entered into a partnership with ChemDog for the rights to exclusively cultivate and dispense the strain of nationally recognized cannabis known as ChemD. Having been recognized by the cannabis publication High Times in 2016 as the highest potency of THC ever recorded (32.13%) and the “strain that changed the game”1, ChemDog’s first harvest at Three Boys Farm is expected for late October of 2019, and will offer Florida’s medicinal cannabis users the industry’s highest level of treatment.
About SOL Global Investments Corp.
SOL Global is an international investment company with a focus on, but not limited to, cannabis and cannabis related companies in legal U.S. states, the hemp and CBD marketplaces and the emerging European cannabis and hemp marketplaces. Its strategic investments and partnerships across cultivation, distribution and retail complement the company’s R&D program with the University of Miami. It is this comprehensive approach that is positioning SOL Global as a future frontrunner in the United States’ medical cannabis industry.
This press release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.
By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, but are not limited to: the Company’s ability to comply with all applicable governmental regulations in a highly regulated business; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US federal laws; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; inconsistent public opinion and perception regarding the medical-use and adult-use marijuana industry; and regulatory or political change. Additional risk factors can also be found in the Company’s current MD&A, which has been filed on SEDAR and can be accessed at www.sedar.com.
Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
SOURCE SOL Global Investments Corp.
For further information: Media Contact: Davis Richardson, [email protected], 212.542.3146
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