MPXOF - MPX International's Wholly-Owned Subsidary Canveda Inc. Receives Licence Amendment From Health Canada Authorizing Production and Sales of Cannabis 2.0 Products
(TheNewswire)
TORONTO, ONTARIO - TheNewswire- December 1, 2020 - MPX International Corporation (" MPXInternational ", " MPXI " or the " Corporation ") (CSE:MPXI; OTCQX:MPXOF), amultinational diversified cannabis company, ispleased to announce that its wholly-owned subsidiary, Canveda Inc.(" Canveda "), a Licence Holder under the Cannabis Act (Canada), has received a licenseamendment from Health Canada which authorizes Canveda to produce, sell, and export all categories of authorized Canadian cannabisproducts, including topicals, extracts and edibles.
Prior to the receipt of the amended licence, Canvedahas been developing its flower and pre-roll product offerings inAlberta, Saskatchewan and Israel. This amendment will allow Canveda toimmediately expand into the production and sale of other Cannabis 2.0products, such as oils, vapes, tablets and topical creams. Theseproducts will be offered under both the "Salus" medicalbrand and the popular recreational "Strain Rec (TM)"brand.
"Our Canveda team had been working diligently tocomply with the stringent Health Canada requirements for theproduction of Cannabis 2.0 products. This amendment will allow us tostart offering oil products immediately to our medical patients,particularly our veteran patients through Spartan Wellness ( https://spartanwellness.ca ) as wellas through the Medical Cannabis Learning Network ( https://mcln.ca ). In the nextmonth, we will be expanding our production capability to includevapes, additional oil blends, tablets and other products to meet thegrowing market demand in Canada and abroad," said MichaelArnkvarn, Chief Operating Officer, Canada of MPXI. "In additionto our growing roster of medical patients, Canveda is supplying flowerand pre-rolls to the retail markets of Saskatchewan and Alberta and wewill now be able to increase our offerings to include Cannabis 2.0products. This is an important step in our overall retail strategywhich we will continue to develop over the next few months.Discussions have commenced with other provincial cannabis regulatorybodies in order to increase shipments and generate additional revenuestreams."
"Canveda is our, Peterborough, Ontario-basedCanadian Health Canada licensed facility. With the ability to procurehigh quality flower at reasonable prices from other Licence Holders,we have been gradually shifting our focus at Canveda from cultivationto one of production and distribution, for both domestic markets andfor export globally through our various international subsidiaries andclientele," noted W. Scott Boyes, Chairman, President and CEO ofMPX International. "The cannabis industry is rapidly expanding,not only in Canada, but throughout the world and MPXI continues tofocus on exploiting that expansion by both diversifying its productselection and concentrating efforts on market developmentinternationally."
About MPX InternationalCorporation
MPX International Corporation is a multinational diversified cannabis company focused on developing and operating assets across theinternational cannabis industry with an emphasis on cultivating,manufacturing and marketing products which include cannabinoids astheir primary active ingredient. With current operations spanning fourcontinents in Canada, Switzerland, South Africa, Malta and Australiaas well as evolving partnership and distribution opportunities inother jurisdictions, MPXI continues to position itself as an emergentglobal participant in the cannabis industry.
Cautionary Statement RegardingForward-Looking Information
This news release includes certain"forward-looking statements" under applicable Canadiansecurities legislation that are not historical facts. Forward-lookingstatements involve risks, uncertainties, and other factors that couldcause actual results, performance, prospects, and opportunities todiffer materially from those expressed or implied by suchforward-looking statements. Forward-looking statements in this newsrelease include, but are not limited to, MPX International'sobjectives and intentions. Forward-looking statements are necessarilybased on a number of estimates and assumptions that, while consideredreasonable, are subject to known and unknown risks, uncertainties andother factors which may cause actual results and future events todiffer materially from those expressed or implied by suchforward-looking statements. Such factors include, but are not limitedto: general business, economic and social uncertainties; litigation,legislative, environmental and other judicial, regulatory, politicaland competitive developments; delay or failure to receive board,shareholder or regulatory approvals; those additional risks set out inMPX International's public documents filed on SEDAR at www.sedar.com , including its audited annualconsolidated financial statements for the financial years endedSeptember 30, 2019 and 2018 and the corresponding annual management'sdiscussion and analysis; and other matters discussed in this newsrelease. Although MPX International believes that the assumptions andfactors used in preparing the forward-looking statements arereasonable, undue reliance should not be placed on these statements,which only apply as of the date of this news release, and no assurancecan be given that such events will occur in the disclosed time framesor at all. Except where required by law, MPX International disclaimsany intention or obligation to update or revise any forward-lookingstatement, whether as a result of new information, future events, orotherwise.
For further information, pleasecontact:
MPX International Corporation
W. Scott Boyes, Chairman, President andCEO
T: +1-416-840-4703
info@mpxinternationalcorp.com
http://mpxi.tv
For additional information on MPXI visitour website www.mpxinternationalcorp.com or http://mpxi.tv .
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