KITCHENER, Ontario, Sept. 18, 2018 (GLOBE NEWSWIRE) -- James E. Wagner Cultivation Corporation ("JWC" or the "Corporation") (TSX VENTURE:JWCA), is pleased to announce that on September 17, 2018, it received pre-approval for the saveONenergy incentive program (the "Incentive Program") for its climate control systems, installed during the phase one development of its second 345,000 square foot facility located on Manitou Drive in Kitchener, Ontario ("JWC 2"). The Incentive Program is administered through JWC's local distribution company, Kitchener-Wilmot Hydro Inc.
Recognizing that the cannabis industry is highly energy-intensive, JWC has made it their priority to develop an environmentally-conscious and energy-efficient production process. JWC has implemented state-of-the-art, Price Industries' GRW HVAC units (the "Units") at its current pilot facility and has also commenced installation of these Units at JWC 2. JWC intends to pursue the Incentive Program on all future HVAC process equipment installations during the next phases of construction at JWC 2. Through the use of these Units, the Corporation has achieved advanced micro-climate environmental control providing both increased production yields and reductions in plant lifecycle, thereby improving the energy efficiency of the entire production process. As a result, JWC believes it is an excellent and unique candidate for the Incentive Program.
If JWC receives final approval under the Incentive Program, JWC will be reimbursed for up to fifty percent (50%) of its process HVAC infrastructure costs. In order to be eligible for final approval and financial reimbursement, JWC is completing a twelve-month measurement and verification period, to ensure that the Units are functioning at the projected level of energy-efficiency. JWC has worked closely with Kitchener-Wilmot Hydro Inc. on this project to ensure the greatest potential for environmental benefits is achieved. Kitchener-Wilmot Hydro Inc. anticipates this being the largest energy efficiency project that Kitchener-Wilmot Hydro Inc. has completed to date. The first phase of Units installed by JWC will save an estimated 3,100,000 kilowatt hours ("kWh") annually, which is equivalent to the energy consumed by more than 375 homes in the Kitchener region. With the aid of the Incentive Program, JWC will be able to effectively measure energy savings, continue to optimize its operations, and receive a substantial return on investment.
About James E. Wagner Cultivation Corporation
JWC's wholly-owned subsidiary is a Licensed Producer under the Access to Cannabis for Medical Purposes Regulations ("ACMPR") and JWC is a premium cannabis brand, focusing on producing clean, consistent cannabis. JWC uses an advanced and proprietary aeroponic platform named GrowthStorm™. JWC was founded as a family company and prides itself on its family values. JWC began as a collective of patients and growers under the Marihuana Medical Access Regulations (the precursor to ACMPR). Since its inception, JWC has remained focused on providing the best possible patient experience. JWC's operations are based in Kitchener, Ontario.
For additional information about JWC, please refer to JWC's profile on SEDAR (www.sedar.com) or the Corporation's website: https://www.jwcmed.com/home.html
Notice regarding forward-looking statements:
This press release contains statements including forward-looking information for purposes of applicable securities laws ("forward-looking statements") about JWC and its business and operations which include, among other things, statements regarding JWC and any collaboration with Price Industries, including the development of and completion of any research, technology, or patents, and any statements regarding JWC and the saveONenergy incentive program. The forward-looking statements can be identified by the use of such words as "anticipated", "will", "expected", "approximately", "may", "could", "would" or similar words and phrases. Forward- looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those implied in the forward-looking statements. For example, risks include risks regarding the cannabis industry, economic factors, the equity markets generally, funding and grant related risks and risks associated with growth and competition as well as the risks identified in the Corporation's Filing Statement available under the Corporation's profile at www.sedar.com. Although JWC has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release and are based on current assumptions which management believes to be reasonable. The Corporation disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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.
For more information about this release, please contact
Nathan Woodworth, President & CEO of JWC
Phone: (519) 594-0144 x421
George Aizpurua, Vice President of First Canadian Capital Corp.
Phone: (416) 742-5600
Source: James E. Wagner Cultivation Corporation