Indiva announces that it has received approval from Health Canada to expand its production space by 10,000 square feet.
LONDON, Ontario – October 21, 2019: Indiva Limited (the "Company" or "Indiva") (TSXV:NDVA) (OTCQX:NDVAF) is pleased to announce that Health Canada has approved its licence amendment, adding 10,000 square feet of production space, including three new grow rooms and two additional processing rooms. This additional square footage will, subject to applicable regulatory approvals, be used to manufacture edibles, increase Indiva's flower production capacity, and enable new growth in the production, manufacturing, processing and refinement arms of the business.
We are excited to open up these five additional rooms. This new space significantly increases Indiva's revenue potential by adding more capacity to our production, processing and refinement operations. Niel Marotta, Indiva's President and Chief Executive Officer,
Marotta went on to say that "the approval of this licence amendment powers the next step in our journey; infusing our cannabis into gourmet chocolate as well as other derivative products. We stand committed to following Health Canada's regulations and are proud to receive clearance to continue forward with our strategy to meet the expectations of our supply agreements with provincial wholesalers. We look forward to bringing our exceptional cannabis and cannabis-infused products to more Canadians."
Indiva intends to begin populating its three new flower rooms immediately. The cannabis grown in this space is expected to be turned into flower, pre-rolls, oil and distillate. The two newly-licensed processing rooms are expected to be dedicated to Indiva's pre-roll production and chocolate manufacturing operation.
Indiva is also pleased to announce plans to submit its evidence package to Health Canada for the final phase of its London, Ontario facility by the end of October. Once licensed, this will provide an additional 10,000 square feet of processing space.
Disclaimer: Past performance is not an indicator of future performance.
Disclaimer: past performance is not an indicator of future performance
Indiva's global family of cannabis brands set the standard for quality and innovation. Indiva aims to bring its exceptional portfolio of products to Canadians and cannabis enthusiasts around the world as laws permit. Indiva's production facility, based in London, Ontario, includes aeroponic, environmentally-conscious grow rooms and a nearly completed extraction and manufacturing space, which will be able to process 70 tonnes of biomass annually and produce safe, high-quality cannabis-infused edibles. In Canada, Indiva will produce and distribute Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt and Ruby® Gems, as well as the award-winning Bhang® Chocolate, and other derivative products through licence agreements and joint ventures.
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