Franchise Cannabis’s German Subsidiary ACA Müller Commits to Purchase of Medical Cannabis from MJardin’s Halifax Facility Due to Rapid Growth in German Patient Demand
DENVER, Colorado, and TORONTO, Canada, — September 16, 2019 – MJardin Group, Inc. (“MJardin” or “the Company”) (CSE: MJAR) (OTCQX: MJARF), a leader in premium cannabis production, announces a supply contract with ACA Müller ADAG Pharma Vertriebs GmbH (“ACA Müller”), a subsidiary of Franchise Cannabis Corp. (“Franchise”), for the supply offtake of a total of 2,250 kg of medical cannabis over a nine month period in 2020 from MJardin’s 48,000 square foot Halifax facility (“AMI”)*. ACA Müller has committed to purchase 250 kgs a month of high THC (>20%) medical cannabis flower during Q1 to Q3 2020 at a set price throughout the year. AMI remains on track for EU GMP Certification by the end of this year and is expected to add an additional 20,000 square feet by Q1 2020.
“This agreement is a key milestone for MJardin and AMI as it represents our first sales outside of North America,” said Pat Witcher, COO of Mjardin. “Entering into the European market allows MJardin to achieve premium pricing in new markets for approximately half of the monthly production at AMI and is the beginning of building out a vital new geographic market for distribution. We look forward to working with Franchise as our European distribution partner in this high growth region.”
“MJardin has built a reputation as an operator with a top cultivation team. The Halifax facility is truly world class and fits with our strict quality standards. This supply relationship will allow us to increase our sales volumes to meet growing demand,” said Clifford Starke, Franchise Cannabis’s CEO. “The German market added 20,000 new patients last quarter, and our inventories are being sold out month after month. We look forward to working with AMI and MJardin as we continue to build market share across pharmacy networks in the jurisdiction with the highest price per gram in the world.”
“We are excited for this partnership with Franchise and what it will bring to MJardin and AMI. Connecting with European markets, in this industry, is a milestone for the Mi’kmaq of Nova Scotia and we look forward to furthering our international relationships,” said Chief Mike Sack, Assembly of Nova Scotia Mi’kmaw Chiefs.
*AMI is a three-way partnership consisting of the Nova Scotia Mi’kmaq First Nations (51%), MJardin Group, Inc. (39%) and another minority shareholder.
About MJardin Group
MJardin is a cannabis management platform with extensive experience in cultivation, processing, distribution and retail. For over 10 years, MJardin has refined cultivation methodologies, developed state of the art facilities and implemented vertical integration for and on behalf of license owners. MJardin is based in Denver, Colorado and Toronto, Canada. For more information, please visit www.mjardin.com
About Franchise Cannabis Corp.
Franchise Cannabis is a global, fully integrated medical cannabis company with a leading German distribution platform built upon the first license granted in March 2017. With two distribution facilities in Germany serving a vast pharmacy network, a licensed cultivator in Denmark currently producing high quality medical cannabis, and supply relationships with prestigious cannabis groups globally, Franchise is on the cutting edge of the European medical cannabis market. Franchise also has one of the most complete and sought-after genetics collections in the world with over 220 strains, many of which have won Cannabis Cups and also has licensed CBD cultivation and extraction operations in Colombia and Uruguay. For more information, please visit: www.franchisecannabis.com
The CSE has not in any way passed upon the merits of and has neither approved nor disapproved the contents of this news release. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
MJARDIN INVESTOR CONTACT:
Ali Mahdavi Patrick Witcher
Capital Markets & Investor Relations Chief Operating Officer
FRANCHISE CANNABIS INVESTOR CONTACT:
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