Penticton, BC, Feb. 21, 2019 (GLOBE NEWSWIRE) -- Green Mountain Health Alliance Ltd., an upcoming socially responsible, low-cost, large-scale wholesale cannabis and hemp producer, has successfully completed a transfer to Health Canada’s newly created Cannabis Tracking and Licensing System (CTLS). Due to changing legislation following cannabis legalization on October 17, 2018, Green Mountain – and all other original applicants under Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR) – was required to migrate its application to the CTLS. Green Mountain has progressed through the initial intake and screening phase and has moved into the review queue.
In accordance with the Cannabis Act, Health Canada's CTLS is a public facing web application that tracks medical and recreational cannabis business, enabling the submission of new license applications, requests for amendments and license renewals, and the submission of monthly tracking reports. There are currently over 600 applications in the queue.
“Progressing through the initial intake stage of the CTLS framework is a great sign, as this places Green Mountain in a position to resume previous priority review by Health Canada,” said Green Mountain President, Wade Attwood. “Health Canada has recently increased their capacity to review and process applicants and so we are hopeful that with these additional resources, and with our newly appointed Health Canada Indigenous Navigator, our application will continue to progress relatively quickly.”
Formed in the fall of 2017 to pursue an application to become a licensed cultivator and processor of cannabis under Health Canada’s ACMPR program, Green Mountain has secured two properties in the Okanagan Valley in BC. The first phase of production is set to begin on a 16-acre parcel in Kaleden, British Columbia, with the first stage of greenhouse construction anticipated to be complete in the spring of 2019. Green Mountain has also completed a Letter of Intent (LOI) to lease a 98-acre parcel of Indigenous agricultural land.
Once licensed by Health Canada, the Company will grow cannabis and hemp plants, sell nursery stock, harvest and sell dried cannabis and hemp flower, and process and sell cannabis derivatives. The company has a strong commitment to social responsibility with Indigenous partnerships providing the foundation of its business.
About Green Mountain Health Alliance Ltd.
Located in the Okanagan Valley, BC’s best cannabis growing area, Green Mountain is progressing towards becoming one of Canada’s leading, socially responsible, low-cost, large-scale wholesale cannabis and hemp producers. Our team of employees, proven industry experts, and Indigenous partners are working to ensure we will provide safe, sun-grown, high-quality cannabis and hemp using environmentally sustainable cultivation methods and greenhouse technology.
As a wholesale, high-volume, low-cost producer, Green Mountain is ideally positioned to fill a market gap; providing the expanding Canadian medical and recreational cannabis industry with consistently high-quality product utilizing superior genetics. The company has secured over 100 acres with the potential for over 1,000,000 square feet of growing space. For more information, visit https://greenmountainhealthalliance.com/.
The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company’s expectations or projections.
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