Enertopia Corp. (OTC: ENRT), an aspiring producer of medical marijuana under Canada’s newly implement MMPR program, recently announced that municipal approval has been granted for the production, cultivation, and sale of medical marijuana in appropriately zoned locations. The location had been previously announced as being in the Greater Toronto Area.
“It needs to be mentioned that there was no negative feedback during the public hearing process, a true testament to growing acceptance of medical marijuana being used as a medicine for people in pain or other chronic conditions,” said Enertopia Corp. CEO Robert McAllister.
Enertopia plans to build the 30,000 square foot medical marijuana facility in a joint venture with Lexaria Corp. (OTC: LXRP). Since the original announcement was made on April 10th, a great deal of progress has been made regarding the sate of the art design concepts to be implemented, including agreements with David Hyde & Associates and KNY Architects Inc.
In an April update, the company indicated that its World of Marihuana project is awaiting a site visit from Health Canada, while its other projects are moving forward with renovations. Management plans on updating shareholders when it receives any additional news from Health Canada and as it continues to build out its projects in a meaningful way.
Management’s experience and its facilities’ prior operations under Canada’s MMAR program could give it an edge over many of the other hundreds of applicants applying for a similar licensed producer status under the country’s MMPR program. So far, only 13 licensed producers have been approved by Health Canada, with three of them currently or soon to be publicly traded in the U.S. or Canada.
Shares of Enertopia Corp. were trading roughly even following the announcement on Monday, July 14, 2014.
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