The building site for the phase 2 facility has been leveled and prepared for the instillation of the screw pile foundation expected within the next 2 weeks. The buildings are expected to arrive May 1st and expected to be completed by early June, and by the end of September the interior build-out is expected.
While the facility was originally planned for 80,000 square feet, utilizing best practices learned from previous developments, the design was optimized to incorporate an extraction facility. The additional space will provide added capacity to accommodate administrative and production staff. The new facilities will house 1,600 lights spanning 40,600 square-foot flowering rooms, maximizing available floor space and allowing for a fully controlled and optimized environment facilitating a harvest every two week and enabling the grow teams to complete all their procedures in the same day.
Commencing October, Speakeasy Cannabis Club will have an initial production run rate of approximately 8,100 KG increasing to 11,000 KG of cannabis per year based on the improvements realized from phase 1 plus the construction of the phase 2 facility. Given the unique climate and location of Rock Creek “Marijuana Country” in British Columbia, the Company is in a position to cultivate some of the highest quality Cannabis in Canada. With access to significant Natural Gas, Water and Electricity, the property’s infrastructure makes Speakeasy Cannabis Club very competitive in comparison to other producers while producing high-quality cannabis at one of the lowest cost per gram in the industry.
ON BEHALF OF SPEAKEASY CANNABIS CLUB LTD.
(signed) “Marc Geen“
Chief Executive Officer
Not for distribution to United States wire services or dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.
Statements about the Target’s future facility expansion plans or ACMPR license application are all forward-looking information.
Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include failure to obtain regulatory approval, the continued availability of capital and financing, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company’s forward-looking statements.
Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE SpeakEasy Cannabis Club Ltd.
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Speakeasy Cannabis Club Ltd., www.speakeasygrowers.com, Telephone: 604-283-1722Copyright CNW Group 2018