GrowPros Outlines Its Diversified Strategy and Appoints a New Director
January 21, 2015 (Source: Marketwired) — GrowPros Cannabis Ventures Inc. (“GrowPros” or the “Company“) (CSE:GCI)(FRANKFURT:JAM) is pleased to outline its diversified strategy within the cannabis industry. GrowPros’ focus over the next 3-6 months, in addition to pursuing its application for a licence to produce and supply medical marijuana in Canada under the Marihuana for Medical Purposes Regulations (Canada) via its wholly owned subsidiary, GrowPros MMP Inc., will be to identify and secure joint venture opportunities with companies operating within or entering into the rapidly growing commercial cannabis industry. In particular, the Company will be focusing on the emerging patient acquisition and production service segments.
The Company is currently negotiating partnerships with multiple applicant producers who have achieved “ready-to-build” status with Health Canada. In exchange for securing financing, GrowPros expects to receive a minimum 10% equity interest in the applicant producer. In addition, GrowPros will have the option to acquire additional equity, at a pre-determined preferred valuation, upon the applicant producer receiving a production license under the MMPR.
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The Company would like to announce the appointment of Valerie Lascher to the Board of Directors. Valerie is a former manager of the Health Canada MMAR (medical marijuana access regulations) program. Valerie will bring over 30 years of experience and expertise in government regulations and policy management to GrowPros and its partners.
“Valerie is an excellent addition to our team. Her experience will be invaluable as we navigate the evolving regulatory landscape relating to medical marijuana in Canada and internationally,” stated Ryan Brown, Chief Executive Officer of GrowPros.
The Canadian Securities Exchange (CSE) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy.
Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the inability of the Company, through its wholly-owned subsidiary, GrowPros MMP Inc., to obtain a licence for the production of medical marijuana; failure to obtain sufficient financing to execute the Company’s business plan; competition; regulation and anticipated and unanticipated costs and delays, and other risks disclosed in the Company’s public disclosure record on file with the relevant securities regulatory authorities. Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>