September 22, 2017 00:01 ET
VANCOUVER, BC--(Marketwired - September 22, 2017) - Cannabis Wheaton Income Corp. (TSX VENTURE: CBW) ("Cannabis Wheaton", "CW", or the "Company") welcomes Kanata Earth Inc. ("Kanata Earth") as the first participant in the recently announced Wheaton Licensing Program and the cornerstone of its First Nations strategy. Kanata Earth, rooted in the Cree word "Kanata Aski", meaning "clean soil/earth", is a First Nations-owned management company providing turnkey solutions for First Nation communities wishing to participate in the regulated cannabis industry. Kanata Earth has already submitted one application to become a licensed producer pursuant to the Access to Cannabis for Medical Purposes Regulations, with immediate plans to submit applications on behalf of another four First Nations across central and western Canada.
Hugo Alves, President of Cannabis Wheaton stated, "We are proud to welcome Kanata Earth to the Wheaton Licensing Program as its very first entrant and as the cornerstone of our First Nations strategy. The Kanata Earth principals are the epitome of what we would want in a Wheaton Licensing partner -- smart, professional entrepreneurs who are innovative, driven and most importantly passionate about helping their community.
"During my time as the head of the Cannabis Group at Bennett Jones I explored a variety of cannabis-focused initiatives involving First Nations and, in my view, the Kanata Earth model is far and away the most compelling for First Nations wishing to participate in the regulated cannabis industry because it puts the bulk of the economic rewards where they should be -- with the sponsoring First Nation. The Canadian federal government has a mandate to help First Nations participate in emerging economic opportunities and we believe that Kanata Earth provides the best model to accomplish that goal with respect to the new cannabis economy. We are thrilled to be working with Kanata Earth and honored to be able to play a role in helping First Nations meaningfully participate in the cannabis industry."
David Wagstaff, Chief Financial Officer of Kanata commented, "We at Kanata Earth are very excited to be the first participant in the Cannabis Wheaton Licensing program. We believe that Cannabis Wheaton is the perfect partner for Kanata Earth at this stage, and we look forward to leveraging their expertise and support as we roll out our plans for facilitating entry into the cannabis industry for our First Nations community partners."
Mike Lickver, Executive Vice President of Cannabis Wheaton noted, "In assessing entrants to the Wheaton Licensing Program we look at one aspect over all others -- the quality of the management team. Kanata Earth exemplifies the sophisticated management teams that the Wheaton Licensing Program is after. I am confident that Kanata Earth will execute on its goal of helping Indigenous Canadians and creating a framework for their perpetual success in the cannabis economy. It's an exciting day for Wheaton and we couldn't be happier to welcome Kanata Earth into the Wheaton family. We are looking forward to helping them grow while staying close to our own values of growth through diversity."
For more information on the Wheaton Licensing Program and the application requirements please contact firstname.lastname@example.org.
ON BEHALF OF THE BOARD
Chairman & CEO
About Cannabis Wheaton Income Corp. (TSX VENTURE: CBW)
Backed by a team of industry experts, Cannabis Wheaton is the first cannabis streaming company in the world. Our streams will include production from across Canada coming from our partners comprised of licensed producers of cannabis (LP) and LP applicants. Cannabis Wheaton's mandate is to facilitate real growth for our streaming partners by providing them with financial support and sharing our collective industry experience.
For more information about Cannabis Wheaton and our management team, please visit: http://www.cannabiswheaton.com, or follow us on Twitter @CannabisWheaton. Call: 1-604 687 7130 Email: Mario@skanderbegcapital.com http://www.skanderbegcapital.com.
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities law. Forward-looking information is frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or information that certain events or conditions "may" or "will" occur. This information is only a prediction. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking information throughout this news release. Forward-looking information includes, but is not limited to: the ability to consummate transactions which are currently in discussions, regulatory or political change, the ability to generate revenue through the streaming agreements, requirements to obtain additional financing, timeliness of government approvals for granting of permits and licences, including licences to cultivate cannabis, completion of the facilities, where applicable, actual operating performance of the facilities, competition and other risks affecting the Company in particular and the medical cannabis industry generally. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. CW is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward -looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.