Heritage's 75% owned subsidiary, PhyeinMed Inc. (“PhyeinMed”) a Health Canada late stage applicant under the ACMPR (Access to Cannabis for Medical Purposes Regulations).
PhyeinMed has submitted to Health Canada, the evidence of site and facility completion as noted in the letter ‘Confirmation of Readiness under the ACMPR’. This is the final step of the application process, with the next step being PhyeinMed receiving a production license and approval to cultivate cannabis at their location in Falkland, British Columbia.
“I am very proud of the discipline and diligence that our PhyeinMed team showed in preparing this Evidence Package” says Jagdip Bal, CEO of Heritage “the rules and regulations surrounding obtaining a licence to produce are challenging and detailed, however we are confident our team understood these requirements and produced a detailed and complete submission.”
The Company now awaits feedback from Health Canada and will update shareholders in the future as it continues to move forward and prepare for the upcoming legalization of cannabis in Canada.
Construction on the Phase 2 build out of a new 41,400 sq ft facility at the Falkland, BC location. This new build is 3,400 sq ft larger than originally planned, and is in addition to their existing 15,500 sq ft facility. Upon completion, the production capacity of Phase 1 and 2 will be in excess of 4,000 kg of cannabis flower.
Heritage has completed an offer to acquire over 100 acres of farmland in Clearview Township, near Collingwood, Ontario.
Clearview is zoned agriculture and is approved for the cultivation of cannabis. There are approximately 85 acres of flat usable land suited for both indoor and outdoor cultivation. PhyeinMed Inc. (“PhyeinMed”), a Health Canada late stage applicant under the ACMPR (Access to Cannabis for Medical Purposes Regulations), has a long-term growth strategy, separated into multiple phases, ultimately culminating in an operation with growing capacity of 3,000,000 square feet, capable of producing in excess of 300,000 kilograms of cannabis per year. The Company is anticipating a large demand for edibles and consumables, whether in candy or infused products, on legalization of this new market. Since the product needed for this market has different characteristics than the current planned cannabis flower products the Company is looking to produce, it will be targeting a combination of indoor and outdoor growth in an effort to be a low-cost producer.
Approval of the second site and licence permitting, construction is scheduled to begin in 2019, with additional expansion to continue, as demand grows.
Senior Security Advisor – David Hyde, M.Sc, CPC - David Hyde is a security and risk management specialist with a range of professional distinctions. He is an industry-recognized leader, respected senior advisor, and life-long learner and educator. Over his 26-year career he has owned and operated an award-winning business, guided security at some of Canada's most iconic landmarks and led the enterprise security program for a $17 billion global corporation. As a corporate security executive with commercial real estate company, Cadillac Fairview, David built the national security strategy and set company policy for security and crisis management across 83 site locations. He assembled a well-respected team of five regional directors, forty site security managers and 550 front-line security staff.
David holds a M.Sc (with Distinction) in Security & Risk Management from the University of Leicester and a Certificate in Security Management from the University of Calgary. He has completed The Wharton School's Development Program for Security Executives and is a Certified Advanced Level CPTED Practitioner. He is also certified to perform Threat Risk Assessments through the International Security Management and Crime Prevention Institute (ISMCPI) and holds the Certified Professional Coach designation.
Senior Horticultural Advisor – Greg Salloum, M.Sc. - Greg received his B. Sc. (Agr.) from McGill in 1982 and then his M. Sc. from UBC in 1987. His undergrad was in Plant Science with a specialty in Horticulture. His Masters’ degree thesis was a cross disciplinary effort in Entomology and Plant Biochemistry. He focused on screening indigenous petroleum ether and ethanol plant extracts for insect anti-feedant activity. While he was finishing his Masters he began working with Safer Ltd. in Victoria, BC developing formulations of botanical insecticides with his research team. They developed a number of patented products with pyrethrum and neem oil in combination with salts of fatty acids.
Since 2010, Greg began his most current project: an organic farm. The farm is now supplying some of the vegetables to their leased restaurant at the Best Western Plus Hotel and Suites. He continues to research new organic horticultural methods for his future endeavors including utilizing humic and fulvic acid, as well as beneficial microorganisms.