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TORONTO, ONTARIO -- (Marketwired) -- 07/20/15 -- Mettrum Health Corp. ("Mettrum" or the "Company") TSX VENTURE:MT)(TSX VENTURE: MT.WT), a vertically integrated agri-pharmaceutical company focused on research, development, production and distribution of medical cannabis products, is pleased to announce that Health Canada has approved the amendment to increase production capacity from 12 to 45 rooms at its Agripharm ("Mettrum Creemore") facility, representing an increase in production capacity of nearly 300%, effective immediately.
The Mettrum Creemore production facility resides on 80 acres of land which will provide for the Company's future expansion requirements. The current 45 licensed rooms are housed on approximately one acre of land, allowing the Company to significantly further expand its operations as customer acquisition continues to ramp up.
"We are very pleased with our success in increasing the production capacity at Mettrum Creemore. Our client acquisition strategy is on track and requires us to have more product available for sale and in inventory to ensure we maintain adequate supplies of all of the products in the Mettrum Spectrum," said Michael Haines, President and CEO of Mettrum Health Corp. "Our licensed production capacity and customer acquisition strategy go hand in hand. We are pleased at the pace we have been able to manage this balance as we continue to grow steadily and provide a superior overall customer experience."
About Mettrum Health Corp.
Mettrum Health Corp. is Tier 1 Industry Issuer listed on TSX Venture Exchange. Mettrum Ltd., the wholly owned subsidiary of the Company, is a Toronto-based company incorporated under the laws of the Province of Ontario and a licensed producer under the MMPR, which came into effect on October 1, 2013. Mettrum received its first license from Health Canada on November 1, 2013 and began production of medical cannabis on the same date at its first production facility in Bowmanville, Ontario. Mettrum received its second license from Health Canada on December 11, 2014 for its acquired Agripharm facility in Clearview, Ontario. With the Company's two licenses, Mettrum is a leading producer and vendor of medical marijuana under the MMPR system.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the results of operations. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company and Mettrum disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press release.Contacts: Mettrum Health Corp. Ali Mahdavi Investor Relations 416.962.3300 Mettrum Health Corp. Keelan Green Media Relations (613) 220-2016 NEXT ARTICLE
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