Lotus Ventures Inc (CSE:J) has exercised the option to purchase its 23-acre property located in Armstrong, BC for $1.1 million on June 8, 2018. The deal was finalized by exercising the purchase option under our lease agreement dated November 7, 2015.
Lotus is nearing completion of the initial facility of 22,500 square feet, and anticipates commissioning the building beginning in September. As previously reported, Health Canada notified Lotus of the Confirmation of Readiness on April 20, 2018 and we anticipate submitting our Evidence Package in September with issuance of our Cultivation License shortly thereafter. In keeping with normal protocol a full “Sales License” would be issued after growing, processing and third-party testing of two crop cycles, scheduled for February 2018.
ON BEHALF OF THE BOARD
Lotus Ventures Inc.
Dale McClanaghan, President and CEO