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Lotus Ventures obtains “Standard Cultivation” & “Sale for Medical Purposes” cannabis licences from Health Canada

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These licences give Lotus the ability to begin cultivation at its fully constructed 22,500 square foot indoor, purpose build facility located on 23 acres in Armstrong, British Columbia.

Additional Information:

Company: Lotus Ventures
Website: http://www.LotusVentures.ca
Stock Symbol: CSE: J
Date Published: Mar 11, 2019
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media


Lotus Ventures has obtained both “Standard Cultivation” and “Sale for Medical Purposes” cannabis licences from Health Canada.

These licences give Lotus the ability to begin cultivation at its fully constructed 22,500 square foot indoor, purpose build facility located on 23 acres in Armstrong, British Columbia.

Phase 1A consists of 9,120 square feet of growing capacity, designed to produce 2 million grams annually.

Phase 1B is a 30,000 square foot expansion designed to produce 4.5 million grams of cannabis annually.

The company’s financial model is based on the 10-year streaming agreement with Auxly Cannabis Group Inc., a vertically integrated international cannabis operator.

Auxly is entitled to purchase or otherwise direct the sale of 50% of the facility’s total production.

Auxly also retains a right of first refusal to purchase the remaining 50% of cultivation output from the facility, as well as a right of first refusal to finance a prescribed portion of the first expansion to the facility and all or a portion of any further expansions of the facility.

The first three years of the streaming agreement have a fixed price of $2.25 gram.

The revenues generated from the streaming agreement will be enough to notionally cover close to 100% of the operating costs during that time.

For more information, please visit the company’s website at www.LotusVentures.ca, contact Dale McClanaghan, President and CEO, at 604-644-9844 or by email at DaleMcClanaghan@gmail.com.

For investor relations, contact Daniel McRobert at 604-842-4625 or by email at DanielMcRobertt@gmail.com.

I’m Samantha Deutscher for Investmentpitch Media