Easton Pharmaceuticals is pleased to announce that it has entered into an agreement with Canadian based MDRM Group (Canada) Ltd., a wholly-owned subsidiary of Modern Mobility Aids, Inc. to purchase up to 49% of a private Canadian medical marijuana company which has submitted an application for a federal growers license and has received a letter to build from Health Canada under Canada’s new MMPR system.
MDRM Group (Canada) Ltd., a wholly-owned subsidary of Modern Mobility Aids, Inc.
A long and profitable partnership
he agreement provides Easton Pharmaceuticals with an exclusive option to purchase any amount between 10% and 49% of the private medical marijuana company with no funds being advanced until the license has been granted by Health Canada.
The private MMJ company has been in receipt of the letter to build from Health Canada for the past several months, has already finalized its build-out of its growing facility and is awaiting a final inspection prior to receiving its growers license.
The private medical marijuana company whose name is being kept confidential until its final inspection has been completed, is one of what is believed to be a limited number of companies who have received letters to build from Health Canada, with only 13 companies having thus far received MMPR licenses in Canada.
The application and growing facility of the private medical marijuana company is currently for approximately 5,000 sq. ft. of growing space. The facility is situated on acreage already zoned for agriculture and allows for the expected and planned expansion to accommodate a maximum of 50,000 sq. ft. of growing space.