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Company Proceeds with Greenhouse Construction in full Compliance with ALR Bylaws
PENTICTON, BC – February 28, 2019 – Green Mountain Health Alliance Ltd., an upcoming socially responsible, low-cost, large-scale wholesale cannabis and hemp producer, has received an Agricultural Land Reserve (ALR) greenhouse building permit from the Regional District of Okanagan-Similkameen (RDOS) for the Company’s 16-acre parcel of land in Kaleden, BC. Green Mountain has already completed excavation work on the property and greenhouse anchorage installation is underway. With the receipt of the full building permit, the Company can now forge ahead with the full-phase of greenhouse construction.
Green Mountain expects the first phase of greenhouse construction to be complete spring, 2019 so the Company can begin growing the first test crop. The full build-out is anticipated to be complete summer, 2019. The facility will provide significant square footage of greenhouse space to grow and flower cannabis, along with an adjacent processing building.
“We will reduce our energy consumption by optimizing use of natural light, natural cooling and heating in the building design, and the use of automated and efficient climate control solutions. This not only benefits the environment but will also provide us with cost savings,” said Dominic Unsworth, Green Mountain’s Head Facilities Designer. “We have also confirmed a plan for electrical service and established a rainwater capture system to provide the majority of irrigation needed, as we are committed to environmentally sustainable cultivation methods which reduce energy and water consumption.”
The Company was previously ready to move forward with construction plans in 2018 when Agricultural Land Commission (ALC) regulations unexpectedly changed in mid-July. As the Company’s business model centers on sun-grown cannabis, modifying the building design to comply with the new ALC ‘farm-use’ regulations was a relatively simple process.
“The receipt of our building permit is fantastic news,” said Green Mountain President, Wade Attwood. “The ALR regulatory landscape has been in evolution and this clears the way for us to proceed with support from the RDOS and in full compliance with ALC regulations and local bylaws. Green Mountain’s sun grown, environmentally sustainable, high-technology greenhouse operation will have exceptionally low production costs that indoor, electricity-dependent growers across Canada will have difficulty competing with. We’re very excited to move forward.”
Formed in the fall of 2017 to pursue an application to become a licensed cultivator and processor of cannabis under Health Canada’s ACMPR program, Green Mountain has secured two properties in the Okanagan Valley in BC. The first phase of production is set to begin on the 16-acre parcel in Kaleden, BC, and the Company also has a Letter of Intent to lease a 98-acre parcel of Indigenous agricultural land.
The Company is awaiting approval of its cannabis production license for its Kaleden property following the successful completion of a transfer to Health Canada’s newly created Cannabis Tracking and Licensing System (CTLS). Green Mountain has progressed through the initial intake and screening phase and has moved into the review queue, and has also been identified as an Indigenous Associated Applicant.
About Green Mountain Health Alliance Ltd.
Located in the Okanagan Valley, BC’s best cannabis growing area, Green Mountain is progressing towards becoming one of Canada’s leading, socially responsible, low-cost, large-scale wholesale cannabis and hemp producers. Our team of employees, proven industry experts, and Indigenous partners are working to ensure we will provide safe, sun-grown, high-quality cannabis and hemp using environmentally sustainable cultivation methods and greenhouse technology.
As a wholesale, high-volume, low-cost producer, Green Mountain is ideally positioned to fill a market gap; providing the expanding Canadian medical and recreational cannabis industry with consistently high-quality product utilizing superior genetics. The company has secured over 100 acres with the potential for over 1,000,000 square feet of growing space. For more information, visit https://greenmountainhealthalliance.com/.
The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company’s expectations or projections.
For more information, please contact:
Wade Attwood, President, Green Mountain
Michele Lise, Investor Relations, Green Mountain
1-833-291-GMTN or 604-612-4443