Muskoka Grown signs Wholesale Agreement and Receives Standard Processing License for Purpose-Built Facility in Bracebridge

BRACEBRIDGE, ON, May 24, 2019 /CNW/ - Muskoka Grown Limited ("Muskoka Grown" or the "Company"), a craft producer of small-batch premium cannabis products, has entered into a wholesale agreement to sell 270 kilograms of dried cannabis to another Ontario licensed producer. In addition to securing a wholesale agreement, earlier this month, Muskoka Grown also received its standard processing license under the Cannabis Act for its thoughtfully built, state-of-the-art facility located in the heart of Muskoka.

With this new license, Muskoka Grown can process their premium cannabis into finished branded products. Muskoka Grown has taken the next step and submitted an amendment to its standard processing license. Once approved, it will give Muskoka Grown the ability to sell its premium finished cannabis products to provincially and territorially authorized distributors and retailers in Canada.

"We made the strategic decision to enter into the wholesale agreement to provide cash flow from operations while our dedicated team of industry experts develops products from our extensive genetic library for the adult recreational market," said David Grand, CEO & Founder, Muskoka Grown. "We believe that strong brands and high-quality, consistent products will be the markers of continued success in this industry, and we're well-positioned to meet the demand for these products."

Additionally, Muskoka Grown remains on track to complete the second floor of its 65,000 sq. ft. purpose-built facility by Q3 of 2019. This additional space will encompass 40 per cent of the Company's production capacity and, once completed, will bring the facility to full operation. The facility is located on 46 acres of property and represents an initial $22 million investment. Once fully operational, Muskoka Grown is expected to create more than 85 jobs in the region.

"We are very proud of the facility milestones reached at Muskoka Grown and excited to now have perpetual cannabis production," stated Nick Anderson, Vice President, Operations. "Our high growing standards and integrated facility technology allow us to have finite control over the environment in which we grow in, ensuring we craft a consistent premium product for the Canadian market."

Muskoka Grown is committed to growing its supply chain and looks forward to sharing more information about its expanding production footprint to supply the Canadian cannabis market with the highest quality products in future months.

To learn more about Muskoka Grown and other initiatives, such as our Safe Boating campaign, click here.