CannaPharmaRx Files Response with Health Canada in Preparation for Cremona Facility Opening
CannaPharmaRx, Inc. (OTC PINK:CPMD) has filed its response to Health Canada on August 31, which is anticipated to be a crucial step towards obtaining a cultivation license. This license is essential for large-scale cannabis production and will allow CPMD to grow and sell cannabis wholesale to other license holders. Following a recent multi-million dollar offtake agreement, the company expects to finalize its cultivation license this month, aiming to commence operations in Q4 2022.
- Filed response with Health Canada, crucial for obtaining a cultivation license.
- Recent multi-million dollar offtake agreement enhances revenue potential.
- Expecting to receive cultivation license soon, facilitating large-scale operations.
- None.
CALGARY, AB / ACCESSWIRE / September 7, 2022 / CannaPharmaRx, Inc. (OTC PINK:CPMD), a future leader in ultramodern, highly efficient cannabis production facilities announced today that on August 31 the company completed and filed its response to Health Canada. The company anticipates this to be the one of the final steps before being awarded a cultivation license.
A standard cultivation license is necessary for larger companies that want to build and grow in a large-scale facility. Upon receiving the cultivation license the company can grow cannabis and sell wholesale to other License Holders.
"Subsequent to the recent completion of a multi-million dollar offtake agreement, we look forward to completing the requirements for our cultivation license. If the process proceeds as anticipated, we expect to receive our cultivation license this month. This would keep us on track to commence operations in our facility during Q4 2022," stated Nick Colvin, CEO of CannaPharmaRx.
About CannapharmaRx, Inc.
CannapharmaRx is focused on the acquisition and development of state-of-the-art cannabis grow facilities in Canada. CPMD is in discussion with other companies regarding potential acquisitions. CannapharmaRx's business strategy is to become a leader in high quality and low-cost production of cannabis through the development, acquisition, and enhancement of existing facilities. CannapharmaRx is committed to operating high-quality facilities utilizing the latest technology in combined heat and power generation to ensure being a low-cost producer of cannabis.
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Contact Information:
Brokers and Analysts:
Chesapeake Group
(410) 825-3930
SOURCE: CannaPharmaRx
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https://www.accesswire.com/714837/CannaPharmaRx-Files-Response-with-Health-Canada-in-Preparation-for-Cremona-Facility-Opening
FAQ
What is the current status of CannaPharmaRx's cultivation license application?
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