(Photo Credit - Nick Youngson)
TORONTO, Dec. 04, 2017 (GLOBE NEWSWIRE) -- Emblem Corp. (“Emblem” or the “Company”) (TSXV:EMC) (OTC:EMMBF), a vertically integrated cannabis company focused on research, development, production and distribution of cannabis products for medical purposes, announced today its growth plans for 2018.
Incoming President and CEO, Nick Dean, who brings years of consumer marketing, retail and leadership experience to Emblem’s dedicated team, will be moving forward under a new paradigm focused on building capacity to meet the expected surge in demand, ramping up patient acquisition on the medical cannabis market, and embarking on a number of strategic partnerships that will position it well for the adult-use cannabis market.
“We will be entering a new era when Canada finally removes the stigma and legalizes adult-use cannabis,” noted Dean. “We intend on leveraging our award-winning customer experience, our significant strengths in the medical segment and our dedicated focus on providing the highest quality products to become a major player in the recreational segment as well.”
Emblem currently has over 8,500 square feet of flowering capacity at its closed box facility in Paris, Ontario. The Company’s recent major land acquisition will soon pave the way for state-of-the-art greenhouse facilities that will significantly expand the Company’s total production capacity to upwards of 17,000 kilograms of dried flower per annum.
“With our oils license now in place and the adult-use market on the horizon, we are looking to significantly increase our cultivation capacity, while at the same time maintaining our commitment to produce high-quality product at low cost,” says Dean. “Ultimately it’s about being relentlessly driven to deliver a strong return on investment and a solid balance sheet. We will also be mindful of strategic transactions and other opportunities to accelerate our growth objectives in Canada and international markets.”
Emblem remains focused on the production of the highest quality cannabis flower and derivative products through a multi-pronged approach of “closed box” and “greenhouse” production facilities. The Company views having parallel paths and the optionality of both types of cultivation facilities available as a prudent approach to maximizing return on capital employed.
Emblem Corp. is a fully integrated licensed producer and distributor of medical cannabis and cannabis derivatives in Canada under the ACMPR (Access to Cannabis for Medical Purposes Regulations). Led by a team of cannabis experts and former health care and pharma executives, it has three distinct verticals – cannabis production, patient education centers, and pharmaceutical dosage form development. Emblem trades under the ticker symbol EMC on Toronto Venture Exchange (TSXV).
This news release may contain “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities legislation (together, "forward-looking statements"). All statements and information contained herein that is not clearly historical in nature may constitute forward-looking statement. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements.
Forward-looking statements are not a guarantee of future performance and are subject to and involve a number of known and unknown risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company's actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risks identified in the Company's annual information form dated October 18, 2017 which has been filed with the Canadian Securities Administrators and is available on www.sedar.com. Any forward-looking statements are made as of the date hereof and, except as required by law, the Company assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.
Readers are cautioned not to put undue reliance on these forward-looking statements. This news release contains information obtained by the Company from third parties and believes such information to be accurate but has not independently verified such information.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.