Cannabis Wheaton Income Corp. Announces Signing of Definitive Agreement With Streaming Partner CannTx Life Sciences Inc.

VANCOUVER, British Columbia, Dec. 22, 2017 (GLOBE NEWSWIRE) -- Cannabis Wheaton Income Corp. (d/b/a Wheaton Income) (TSX-V:CBW) ("Wheaton Income" or the "Company") is pleased to announce that further to its previously announced interim agreement, it has entered into a definitive agreement (the "Agreement") with its streaming partner CannTx Life Sciences Inc. ("CannTx") to fund the construction of its cannabis production facility located in Puslinch, Ontario (the "Facility"). CannTx is a privately-owned company that has applied to become a licensed producer under the Access to Cannabis for Medical Purposes Regulations (the "Application"). Health Canada has confirmed that it has completed its paper-review of the Application and that CannTx needs to submit a "confirmation of readiness" to demonstrate that the Facility is eligible for licensing.

Pursuant to the Agreement, the Company will provide CannTx with $5,000,000 related to the initial costs for the phase I construction of the Facility, which is currently estimated to be 13,120 square feet. In addition, the Company will provide CannTx with $7,000,000 related to the phase II expansion of the Facility, subject to the Company completing satisfactory due diligence and the parties agreeing to a construction budget and timeline for the phase II expansion. The phase II expansion is expected to increase the cultivation area of the Facility to effectively 24,000 square feet of pure cultivation space by using innovative vertical grow technology.

In consideration for the financing, the Company will receive a minority equity interest in CannTx and an entitlement to 33% of all cannabis (or cannabis-derived products including any cannabis trim) produced at the Facility for a period of 10 years from the date of first sale at a fixed cost.

VANCOUVER, British Columbia, July 17, 2018 (GLOBE NEWSWIRE) -- Auxly Cannabis Group Inc. (TSX.V:XLY) ("Auxly" or the "Company") is pleased to announce that Auxly’s streaming partner, CannTx Life Sciences Inc. (“CannTx”), has been granted a cultivation licence for its production facility in Puslinch, Ontario pursuant to the Access to Cannabis for Medical Purposes Regulations.

Chuck Rifici, Chairman and CEO of Auxly commented, "We want to congratulate the team at CannTx on obtaining their cultivation licence! This represents a major milestone and achievement for CannTx and for the broader Auxly business strategy. CannTx’s approach to cultivation, through a focus on micropropagation and LED enabled vertical farming, makes CannTx a unique project for the Auxly platform and we could not be more pleased to have them as a partner.”

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