VICTORIA, BC, Sept. 22, 2014 /CNW/ - T-Bird Pharma Inc.
(TSXV:TPI) ("T-Bird" or the "Company"), a
pharmaceutical company focused on developing premium quality
medical marijuana products, is pleased to announce that its wholly
owned subsidiary, Thunderbird Biomedical Inc. ("Thunderbird"), has
signed a definitive lease agreement for a second facility located
in Victoria, BC. The
facility has 28,966 square feet of floor space with the option to
add approximately 14,500 square feet of mezzanine space for a total
of approximately 43,500 square feet.
Architectural and engineering work has started and the Company
expects infrastructure work to commence in October. Based on the
time required for municipal permitting and construction,
Thunderbird aims to have the first Health Canada inspection of the
new facility in Q1-2015.
Upon completion of the first phase of construction at the
facility and licensing by Health Canada the increase in growing
capacity will be clearly significant. "After fine tuning our
pharmaceutical-grade manufacturing processes at our current
facility (3,100 square feet) we are excited to be executing on the
first phase of a multi-phase expansion of our business. We
look forward to demonstrating the scalability of our platform while
ensuring a consistent premium quality product for the Canadian
market," said Rob Gagnon, CEO of
T-Bird.
The Company will continue to provide updates on the progress of
the second facility over the coming months.
About T-Bird and Thunderbird
Thunderbird Biomedical Inc. is a British Columbia private company incorporated
under the BCBCA on January 28, 2013,
and is wholly-owned by T-Bird Pharma Inc. The principal
activities of Thunderbird are the production of marijuana from its
Victoria, British Columbia
production facility, as regulated by the Marihuana for Medical
Purposes Regulations (Canada). Thunderbird obtained a
medical marijuana license to undertake the production of medical
marijuana in February 2014, being the
fifth company in Canada to obtain
such a license. T-Bird is the publically traded parent
company of Thunderbird.
ON BEHALF OF THE BOARD
"Robert Gagnon"
CEO and Director
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Statements Regarding Forward Looking
Information
Certain statements in this press release constitute
forward-looking statements, within the meaning of applicable
securities laws. All statements that are not historical
facts, including without limitation, statements regarding future
estimates, plans, programs, forecasts, projections, objectives,
assumptions, expectations or beliefs of future performance, are
"forward-looking statements".
We caution you that such "forward-looking statements" involve
known and unknown risks and uncertainties that could cause actual
and future events to differ materially from those anticipated in
such statements.
Forward-looking statements include, but are not limited to,
statements with respect to commercial operations, including
production and sales of medical marijuana, anticipated revenues,
projected size of market, quantities of future medical marijuana
production, completion of production facilities and other
information that is based on forecasts of future results, estimates
of amounts not yet determinable and assumptions of
management.
T-Bird Pharma Inc. (the "Company") does not intend, and
does not assume any obligation, to update these forward-looking
statements except as required by law. These forward-looking
statements involve risks and uncertainties relating to, among other
things, results of production and sale activities, the Company's
historical experience with medical marijuana operations, uninsured
risks, regulatory changes, availability of production facilities,
timeliness of government approvals and the granting of permits and
licenses, changes in prices, actual operating and financial
performance of facilities, equipment and processes relative to
specifications and expectations. Actual results may differ
materially from those expressed or implied by such forward-looking
statements.
SOURCE T-Bird Pharma Inc.