KINGSTOWN, ST. VINCENT & THE GRENADINES July 17, 2019 — Acres Agricultural Canada Corp. (“Acres Agricultural” or the “Company”) is pleased to announce that it has received approval from the Medicinal Cannabis Authority of St. Vincent & the Grenadines to produce within the country and export internationally, Cannabis in all of its forms for medicinal purposes, on July 11, 2019 – this license approval is made in accordance with and on the advice of the Cabinet of Ministers of the Government of St. Vincent & the Grenadines.
The Company’s wholly owned subsidiary Acres Agricultural (SVG) Ltd. (“Acres”) will be issued the top tier license for the cultivation of 300 acres, becoming a Licensed Producer that is ready to commence operations in St. Vincent & the Grenadines.
“It’s seismic not just for Acres, but for St. Vincent and the Grenadines, said CEO of Acres Agricultural Canada, Patrick Power. “As the leading licensed producer in the country it gives us the opportunity to make the kind of economic and social impact that we have always wanted to make as country men and women, and investors.”
“Our cultivation and production of premium food-grade and pharma-grade cannabis will be a game-changer in support of the international medical market, our local economy and the daily lives of traditional farmers and their families who will benefit from sustainable wages in the new legalized environment. Along with programs to be rolled out as operations unfold, we expect to make a huge difference.”
With exceptional quality and consistency as its mainstays, the company will commence the building of its EMA, GMP, and ISSO compliant production facility and manufacturing plant (on 3.5-acres) where it will meet and exceed international standards for export. The company plans to be in full capacity flower production for the first half of 2020 while leading research & development of biomass and extracted products for US and European markets.
In addition to the exceptional Acres team comprised of seasoned cannabis and business leaders, a number of unique factors will help the company’s ability to quickly become a global supplier of organically certified medicinal cannabis. The perfect climate and geographical location gives an abundance of sunshine all year that will augment planned green housing; tried and tested rich volcanic soils; long history of agricultural production; an abundance of cheap water supply; over 1,500 farmers with a working experience in cultivating cannabis; easy-to-do business systems; and international air and sea access.
Reginald Spaulding, Chief Operating Officer of Acres added, “This is the culmination of what has been an amazing year of preparation working with the traditional farmers to pave the way for success, securing premium lands for both cultivation and processing and bringing on board the most practiced and heralded cannabis scientists in the industry. Let’s go!”
Acres Agricultural (SVG) Ltd. is 100% owned by Acres Agricultural Canada Corp. for the purposes of listing on the Canadian Stock Exchange. Working directly with the Government of St. Vincent & The Grenadines, the Acres team comprised of Canadian, American and Vincentian experts has been actively involved in the formation of cannabis legislation. Now as the leading licensed producer and soon to be exporter of cannabis plants, cannabis oil and cannabinoid infused products in the country, Acres is primed to serve the international Medical Cannabis market. Our pharma-grade cannabis cultivation and food-grade extracted inputs will enable us to meet international requirements and global demand in the competitive Cannabis industry.
The Medicinal Cannabis industry in St. Vincent and the Grenadines is regulated and controlled by the Medicinal Cannabis Authority (MCA) – an independent statutory board established by Parliament for transparency, accountability, and rigorous international standards.