Sugarbud's Stavely facility gets COR letter from HC
2019-04-23 07:44 ET - News Release
Mr. Craig Kolochuk reports
SUGARBUD RECEIVES CONFIRMATION OF READINESS LETTER FROM HEALTH CANADA IN RESPECT OF CANNABIS CULTIVATION FACILITY
Sugarbud Craft Growers Corp. has received a confirmation of readiness letter (COR) from Health Canada in respect of its cannabis cultivation facility in Stavely, Alta. The COR letter requests Sugarbud's affirmative response that it has met Health Canada's licence application requirements. The confirmation of readiness stage is the final stage in the application process.
On March 6, 2019, Sugarbud announced the submission of its affirmation of readiness and video evidence package to Health Canada. The evidence package was meant to demonstrate to Health Canada that the facility is fully functional and compliant under the Cannabis Act and regulations. Upon Sugarbud's demonstration to Health Canada that its facility is fully functional and compliant under the Cannabis Act and regulations, the company will be granted its cultivation licence, at which point it will be permitted to cultivate cannabis.
Craig Kolochuk, president and chief executive officer of Sugarbud, stated: "Receiving our COR letter is a major milestone for Sugarbud in becoming a licensed producer of cannabis. We are currently in dialogue with Health Canada and promptly addressing any final questions and comments. We've submitted our evidence package and we are confident that our facility is world class and compliant with the Cannabis Act and regulations."
Phase 1 of the facility comprises 29,800 total square feet of floorplate. Sugarbud estimates that under a full development scenario with four layers of flowering canopy, phase 1 of the facility will have up to 37,000 square feet of flowering canopy. At a metric of approximately 50 grams per square foot of flowering canopy per crop, and five crops per year, this equates to up to an estimated 9.25 million grams of dried cannabis flower production per year.
About Sugarbud Craft Growers Corp.
Sugarbud is an Alberta-based emerging cannabis company engaged in the development, acquisition, production and distribution of cannabis in Canada.
We seek Safe Harbor.
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