May 16, 2018
The Company has appointed David Hyde of David Hyde & Associates as an adviser to the company. In addition, David will continue in his role as consultant on the company’s late stage license application before Health Canada. We are delighted to have David remain involved in our exciting future, as he has been instrumental in assisting us to our late-stage status with a Confirmation of Readiness.
About Lotus Ventures
Lotus Ventures Inc. (“Lotus” or the “Company”) has achieved a major milestone with the receipt from Health Canada of the Confirmation of Readiness for a License Under the Access to Cannabis for Medical Purposes Regulations (ACMPR). This represents acceptance of our detailed application. Lotus’ construction of its 22,500-square foot purpose-built indoor growing facility in Armstrong, B.C. is in full force and will be completed in August 2018. The company has sufficient capital to finish the construction of the facility, and to exercise its option to acquire the 23 acre Armstrong property in June 2018. The next milestone is receipt of the Cultivation Licence which will allow Lotus to begin growing cannabis. This will be granted once construction is finished and then a “Sale License” will be issued after the first two crops have been grown successfully.
About David Hyde & Associates
David Hyde & Associates is a full-service cannabis security & licensing advisory service based in Toronto & operating internationally. The firm offers security & strategic licensing advisory services based upon a defensible framework of applicable laws, regulatory standards and industry best practice. The 13-member David Hyde & Associates team has extensive experience consulting within the regulated cannabis sector in Canada & beyond & is proud to have been the first Associate Member of the Cannabis Canada Association.
About David Hyde
David Hyde, M.Sc. CPC is one of Canada’s top independent security consultants. He’s an industry-recognized leader & trusted senior advisor to many large organizations. Over a 32-year career, David has operated an award-winning business, secured some of Canada’s most iconic landmarks & led the security program for a $19 billion global corporation with 60 million sq. ft. of facility assets. He is one of only 4 Canadians to be accepted as a member of the world-renowned International Association of Professional Security Consultants (IAPSC).
David holds a M.Sc. (w/Distinction) in Security & Risk Management from the University of Leicester and Certificate in Security Management from the University of Calgary. He completed The Wharton School Development Program for Security Executives and is a Certified Advanced Level Crime Prevention (CPTED) Practitioner. David is a sought after writer, speaker & thought leader within Canada’s cannabis industry. He is the only Canadian member on the Security Committee for the Foundation of Cannabis Unified Standards. Over the past 5 years, David and his team have worked on over 290 licensed producer (LP) and licensed dealer (LD) applications under the MMPR/ACMPR/NCR, including 57 of the 104 currently-licensed LPs.
ON BEHALF OF THE BOARD
Lotus Ventures Inc.
Dale McClanaghan, President and CEO
For further information: Dale McClanaghan: firstname.lastname@example.org (604) 644-9844 or Daniel McRobert, Communications email@example.com (604) 842-4625
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