KITCHENER, Ontario, June 05, 2019 (GLOBE NEWSWIRE) -- James E. Wagner Cultivation Corporation (“JWC” or the “Corporation”) (TSX VENTURE: JWCA; OTCQX: JWCAF), is pleased to congratulate Ascendo Group (PTY) Ltd. (“Ascendo Group” or the “Licensee”) on its progress and announce the first shipment of JWC’s GrowthSTORM™ Dual Droplet™ System equipment (“GrowthSTORM equipment”) to the Licensee’s proposed cultivation facility, located in South Africa. As previously announced, JWC entered into a non-binding letter of intent with the Licensee on April 17, 2019. The Corporation shipped its GrowthSTORM equipment from its JWC 2 site, located in Kitchener, Ontario, on May 31, 2019. This shipment represents the first potential international production footprint for the Corporation’s proprietary GrowthSTORM™ Dual Droplet™ System. JWC entered into an additional agreement with Ascendo Group dated May 9, 2019, which protects all of the intellectual property and trade secrets of JWC that may be obtained from the GrowthSTORM equipment.
About Ascendo Group (PTY) Ltd.
Ascendo Group is a family run business that is built on a solid foundation, that is forward-looking, dynamic, and passionate about the fast-growing medical cannabis industry. Ascendo Group has been committed to quality products, brands, and services for the past 30 years; from textile to LED lighting technology and now its newest venture in medical cannabis cultivation. Ascendo Group aspires to create and deliver quality products and services that meet the evolving needs in the global medical cannabis market.
About JWC’s GrowthSTORM™ Dual Droplet™ System
JWC’s GrowthSTORM™ System offers several significant advantages over other cultivation techniques, including its new advancement, the GrowthSTORM™ Dual Droplet System (“DDS”). The aeroponic GrowthSTORM™ DDS is designed to achieve a higher availability of air and water at the root zone, and a more controlled delivery of nutrients, to result in significant improvements in plant health in all measurable categories, as well as a higher volume of production by each plant. Additionally, this proprietary system is designed to eliminate all contaminants from the cultivation facility, allowing for maximum control of the growth environment to provide clean and consistent cannabis from every plant lifecycle.
About James E. Wagner Cultivation Corporation
JWC’s wholly-owned subsidiary is a Licensed Producer under the Cannabis Regulations, formerly the Access to Cannabis for Medical Purposes Regulations (“ACMPR”). JWC is a premium cannabis brand, focusing on producing clean, consistent cannabis. JWC uses an advanced and proprietary Dual Droplet™ aeroponic platform named GrowthSTORM™. JWC was founded as a family company and is based on family values. JWC began as a collective of patients and growers under the Marihuana Medical Access Regulations (the precursor to ACMPR). Since its inception, JWC has remained focused on providing the best possible patient experience. JWC’s operations are based in Kitchener, Ontario. Learn more at www.jwc.ca.
For additional information about JWC, please refer to JWC’s profile on SEDAR (www.sedar.com) or the Corporation’s website: www.jwc.ca
Notice regarding forward-looking statements:
This press release contains statements including forward-looking information for purposes of applicable securities laws (“forward-looking statements”) about JWC and its business and operations which include, among other things, statements regarding the benefits in production resulting from the use of the GrowthSTORM™ Dual Droplet System and the use of GrowthSTORM equipment for production on an international basis. The forward-looking statements can be identified by the use of such words as “will”, “expected”, “approximately”, “may”, “could”, “would” or similar words and phrases. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those implied in the forward-looking statements. For example, risks include risks regarding the cannabis industry, economic factors, the equity markets generally, building permit related risks and risks associated with growth and competition as well as the risks identified in the Corporation’s Filing Statement available under the Corporation’s profile at www.sedar.com. Although JWC has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release and are based on current assumptions which management believes to be reasonable. The Corporation disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information about this release, please contact
Nathan Woodworth, President & CEO of JWC
Phone: (519) 594-0144 x421
George Aizpurua, Vice President of First Canadian Capital Corp.
Phone: (416) 742-5600