Canary RX Receives its Health Canada Sales License
Target Group Inc. (OTCQB: CBDY) announced that its subsidiary, Canary Rx Inc., has received a Health Canada sales license. This authorization allows Canary to manufacture and sell cannabis products to provincial distributors and authorized retailers, supporting its consumer packaged goods strategy. The company aims to deliver premium craft cannabis through its Ontario facility and expects to solidify its position in contract-based cultivation over the next 12-18 months. CEO Tony Zarcone emphasized the importance of this licensing milestone for executing their commercial strategy.
- Canary Rx has received its Health Canada sales license, allowing cannabis product sales.
- The license enables the execution of a consumer packaged goods strategy.
- Canary Rx plans to produce ultra-premium craft cannabis in Ontario, projected to yield up to 4,500 kg annually.
- The company has established transactions with several licensed producers, indicating robust market engagement.
- None.
NORFOLK COUNTY, ON, Sept. 15, 2021 /PRNewswire/ - Target Group Inc. (OTCQB: CBDY) is pleased to announce that its wholly owned subsidiary, Canary Rx Inc. ("Canary" or the "Company") has received its Health Canada sales license.
Under its Sales License, Canary RX is now authorized to manufacture and sell Cannabis product's directly to provincial distributors and other authorized Canadian retail supply channels, permitting the organization to execute on its future CPG strategy of bringing high-quality, strategically segmented consumer brands to market as well as providing third-party processing and co-packing services on behalf of other licensed white-label partners.
Canary RX, through its joint venture partnership, Venn Cannabis, has been working meticulously to ensure production of ultra-premium, craft cannabis in its Simcoe, Ontario production facility. This will ultimately enable delivery of its unique genetic offerings and provide a strong platform for other retail brands in the market to build a portfolio of whole flower consumer products. The company has already successfully transacted with several additional licenced producers and is very optimistic that over the next 12-18 months, can establish itself as a leader in contract-based craft cultivation at scale within the Canadian cannabis landscape.
"This is an important and significant milestone for us completing another licensing certification required to execute on our commercial strategy. Receiving the sales license at our Simcoe, Ontario facility is tremendously positive news for Canary RX and VENN, our joint-venture with Thrive Cannabis," said Tony Zarcone, CEO of Target Group & Canary RX Inc.
About Canary Rx Inc.
Canary Rx Inc. ("Canary") is a Licensed Producer under the Cannabis Act. Situated in Ontario's Garden, Norfolk County, Canary lies nestled amongst the shores of Lake Erie in a vibrant, agricultural community. Our 44,000 sq. ft. facility is engineered to meet strict quality standards and equipped with the latest environmental control technology. The production space includes eight separate craft flower rooms, projected to produce up to 4,500kg of cannabis annually. Canary's talented team will cultivate premium, craft cannabis, while aligning with distinguished, craft-focused consumer brands to bring the highest quality product to market. www.canaryrx.com
About Target Group Inc. (CBDY) – Target Group Inc. ("Target Group" or the "Company") is a progressive, diversified, and vertically integrated cannabis acquisition company. Target Group is curating an iconic brand portfolio, leveraging product diversification, innovation, and operational expertise to solidify long-term growth and stability. The Company owns and operates Canary RX Inc, a Health Canada licensed producer under The Cannabis Act (Bill C-45), and CannaKorp, makers of the pod-based Wisp™ Vapor technology. Target Group is expanding its global operations to build an international network of manufacturing, distribution, production, and sales operations. www.targetgroupinc.ca
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SOURCE Target Group Inc.
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