True Leaf Is One Step Closer Becoming a Licensed Medical Marijuana Producer in Canada

ZURICH, SWITZERLAND / ACCESSWIRE / July 21, 2015 / Today, True Leaf Medicine International Ltd. has released some interesting news about the progress of its Canadian medical marijuana production license. While the focus of the company has been on launching hemp-based pet supplements in the fall of 2015 (for which business no license from Health Canada is required), Health Canada has sent an “additional enhanced screening” notice to True Leaf last Thursday, which means that the company is one step closer to becoming a licensed producer under Canada’s Marihuana for Medical Purposes Regulations (MMPR).

In a July 16, 2015 letter, Health Canada asked for additional clarification regarding production and storage of medical marijuana at True Leaf’s facility in Lumby, BC. Health Canada set an August 3, 2015 deadline for answers to its questions.

True Leaf’s CEO, Darcy Bomford, comments: “We’re optimistic that the additional enhanced screening means the government is close to the next phase. We’re doing everything we can to demonstrate that we’re serious about respecting the legal licensing route.”

As of March 15, 2015, there were 25 licensed applicants in Canada. True Leaf’s application is among the 324 remaining of the total of 1,284 applications received. A total of 934 applications have been rejected or withdrawn.

There has been little to no news for any of the Canadian applicants from Health Canada during the last months, hence Rockstone believes this is a significant step for True Leaf.

While True Leaf waits for Health Canada to approve its application for a license to produce and distribute medical marijuana in Canada, it is establishing a niche in the North-American hemp industry by focusing on healthy (hemp-based) pet supplements. For this, the company is currently looking for strategic investment partners and $1-3 million CAD in capital as it prepares to launch hemp-based pet treats in the fall of 2015. True Leaf Medicine International Ltd. is entering the $60 billion pet industry with a line of hemp-focused pet chews and supplements marketed through natural pet health and veterinary channels in Canada and the US. The company has also filed an application under Health Canada’s Marihuana for Medicinal Purposes Regulations (MMPR) to become a Canadian licensed producer. It has passed through the preliminary and enhanced screening process of Health Canada’s review and is currently awaiting a ‘pre-license inspection’ approval.

Read Rockstone’s previous article on True Leaf and its plans entering the pet food business in North-America:

http://www.rockstone-research.com/index.php/en/markets-commodities/11-markets-commodities-english/289-true-leaf-medicine-goes-into-production

Further investor information on True Leaf: www.trueleaf.com/investwithus.

Disclaimer: The author, Stephan Bogner (Dipl. Kfm., FH), owns shares of True Leaf Medicine International Ltd. and thus would profit from a share price appreciation, whereas the author may sell those any time without notice. Neither Rockstone Research nor the author was remunerated or instructed by True Leaf Medicine International Ltd. to produce or publish this content. However, please read the full disclaimer on www.rockstone-research.com as a conflict of interest exists with Zimtu Capital Corp. and none of this content is to be construed as a “financial analysis” or “investment advice”.

SOURCE: Rockstone Research

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