November 10, 2015
Vancouver, British Columbia – November 10, 2015
The Company has entered into a three-year lease agreement on the property near Armstrong, British Columbia on which it intends to build the facility which is planned and contained in its MMPR application to Health Canada. The Company will pay $4,000 per month rent beginning December 1, 2015.
The Company also acquired the right to purchase the property at any time during the lease for $1.1 million by payment of $50,000. The Company is also required to pay a further $50,000 in March 2016. The Company has the right to extend the lease and option to purchase for one additional year under certain conditions.
Update on MMPR Application
On August 13, 2015 the Company received a letter of inquiry from Health Canada to which the Company replied on September 9, 2015. The subject matter was only about physical security of the site.
ON BEHALF OF THE BOARD
Lotus Ventures Inc.
Dale McClanaghan, President and CEO
For further information contact:
Dale McClanaghan, President and CEO - (604) 644-9844
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
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