SMITHS FALLS, ON, Jan. 28, 2014 /PRNewswire/ - Tweed Inc. ("Tweed") today announced that it has received a license from Health Canada to produce and supply medical marijuana under the new Marihuana for Medical Purposes Regulations (MMPR).
"We are ecstatic to have a production license in-hand," said Chuck Rifici, Tweed's President and CEO. "Tweed is now one monumental step closer to providing Canadians in need with premium, affordable marijuana."
Tweed plans to begin registering customers on February 6, and will also give customers a first view of some of the strains planned for its store at that time. "Carrying a wide variety of strains, ensuring we have medicine available when patients need it, and providing unparalleled support to customers is what will guide our company," said Master Grower Ryan Douglas.
Tweed made headlines in late September when it occupied the former Hershey chocolate factory and announced its intention to use over 168,000 square feet to grow medical marijuana. The granting of a license follows recent news that Tweed has taken the first steps to becoming a publicly traded company on the TSX Venture exchange. "If approved, this will allow Tweed to run a transparent, open company, while providing an opportunity for the public to invest in a unique market in its early stages," said Rifici.
About Tweed Inc.
Tweed is a Canadian company licensed by Health Canada to supply a wide selection of premium medical marijuana to treat symptoms such as chronic pain, seizures, muscle spasms, nausea and loss of appetite.
The company intends to have product available for sale in April 2014.
Forward Looking Statements
This press release contains forward-looking statements relating to, amongst other things, the anticipated timing for registration of customers, effectiveness of Tweed's products and the timing of product availability. These statements are based on management's expectations based on what it believes to be reasonable assumptions. Such statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, some of which are outside of Tweed's control, could cause events and results to differ materially from those stated. Availability of registration and product availability could be delayed for a number of reasons, some of which are outside of Tweed's control. The effectiveness of Tweed's products can be affected by a number of factors outside of Tweed's control. Tweed disclaims any obligation to publicly update or revise any such statements except as required by law.
SOURCE Tweed Inc
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