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RockGarden Announces Financing to Expand Cannabis Production Facility


Posted on: 18 Aug 17

CARLETON PLACE, Ontario, Aug. 18, 2017 (GLOBE NEWSWIRE) -- RockGarden (Company), a late stage applicant under Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR), announced that it has launched an $8.2 million financing to expand its current production facility.

RockGarden intends to use the proceeds raised by this financing to immediately complete construction on the next phase of its staged expansion plan, as well as to fund general operations. Once completed, the production facility will have a footprint of 20,000 square feet, estimated to be able to produce 2,080 kilograms of dried flower annually.

Deborah Hanscom the Founder and CEO of RockGarden commented, “With the introduction of Canada’s recreational cannabis program just around the corner, RockGarden wants to capitalize on the opportunities available to it by increasing the capacity of our facility in a staged and responsible way. In addition to our current expansion, RockGarden’s future plans include adding a 100,000 square foot greenhouse and a 3,000 square foot extraction facility to our campus, located just outside our nation’s capital.  Having just submitted our attestation of Confirmation of Readiness for a License to Health Canada, we are very excited about the next step in RockGarden’s journey to becoming one of Canada’s great cannabis companies.”

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES

About RockGarden
RockGarden is a medical grade marijuana producer located in Carleton Place, Ontario. It has recently notified Health Canada that the requirements necessary for the granting of a license under the ACMPR have been completed..

GlobeNewswire
globenewswire.com

Last updated on: 21/08/2017

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