Continuing to expand internationally, MJardin Group Inc. (CSE: MJAR) just announced that they have been granted a license to sell marijuana from Health Canada for their 32,000 sq. ft. cannabis cultivation facility in Brampton, Ontario.
Under the terms of the license, MJardin can now supply cannabis products to provincial governments as well as retail outlets across the nation due to the passage of the Cannabis Act.
According to a press release from the company, the Brampton facility currently has a production capacity of 3,000 kg of dried flower product per year, with expansion plans in the works to bump that amount up to a projected 5,000 kg annually in 2019.
This is the second MJardin facility in Canada to receive Health Canada approval for cannabis cultivation in recent months.
An additional extraction facility in Lower Sackville, Nova Scotia, owned by AtlantiCann Medical Inc., was also granted Health Canada licensing, with a 50% equity stake in that company held by MJardin.
Chief Executive Officer Rishi Gautam commented on the new license announcements:
These licenses arrive shortly after the company launched on the Canadian Securities Exchange in November of 2018 through a reverse takeover with Sumtra Holdings and subsequent merger with GrowForce Holdings Inc.
MJardin was additionally added to the CSE Composite Index at the close of market on December 21, 2018.
Besides U.S. operations centred in Denver and Canadian operations through facilities in Ontario and Nova Scotia, MJardin also currently operates in Spain.
Most notably, the company recently funded two year-long studies to take place at the Institute of Neuroscience of Castilla y León and the Salamanca University.
The focus of the studies is to determine the potential effects of CBD to treat epilepsy and schizophrenia, with MJardin potentially developing new CBD-based treatments based on the results on those studies.
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