Orion is a British Columbia based company that aims to become an ACMPR Licensed Producer through its 99% owned subsidiary Medic Oasis. Medic Oasis has submitted an application to become a licensed producer and sell medical marijuana under Health Canada’s Access to Cannabis for Medical Purposes Regulations.
In July 2018, Orion entered into an 11-year commercial lease agreement for 31,688 square feet of space in the City of Dorval, Quebec, for growing, manufacturing and distributing legal cannabis. Under the lease for the Dorval Property, Orion has a right of first offer on any adjacent space which becomes available for lease. If Orion does not obtain the necessary permits to cultivate legal cannabis, it has an option to terminate the lease after the first year.
“We are extremely excited to begin renovations on our future cannabis growing facility in Dorval, Quebec,” said Jonathan Fiteni, CEO of Orion Nutraceuticals. “The province of Quebec is home to over 20% of Canada’s population yet has less than 10% of Canada’s total LP’s. Orion views this as a tremendous advantage as the government of Quebec has stated it will endeavor to fulfill its cannabis needs with product grown within the borders of Quebec.”
Once approved, Orion anticipates that the Medic Oasis project will be operational by the third quarter of 2020.
About Orion Nutraceuticals Inc.
Orion Nutraceuticals is partners with Colombian based medical cannabis corporation FCM Global. FCM supplies pharmaceutical, nutritional, wellness, and cosmetic companies in legal markets worldwide with customized medical cannabis extracts, oils, and isolates at commercial scale. Medic-Oasis, Orion’s subsidiary, has submitted its application for an ACMPR license and is currently under review with Health Canada. Build out is expected to begin in Q1 2019, with completion of the 31,000 square foot facility expected by Q3 2020. Orion Nutraceuticals Inc. aims to set a new standard in cannabis life science by producing and developing innovative products with key strategic partners in the industry. In conjunction with its professional sports strategic alliances, the company is poised to advance research and development in the plant science sector, deliver science-based products and services, and market CBD therapies to the mainstream with proprietary brands and products. Orion shares trade in Canada on the CSE under the symbol ORI.
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