TORONTO, Aug. 01, 2018 (GLOBE NEWSWIRE) — MPX Bioceutical Corporation(“MPX” or the “Company”) (CSE: MPX; OTC:MPXEF) is pleased to announce the Company, through its indirect wholly-owned subsidiary, S8 Management, LLC (“S8 Management”), has received final licensing approval by the Maryland Medical Cannabis Commission (the “Commission”) for the opening of two managed dispensaries, LMS Wellness, Benefit LLC (“LMS”), operating as Health for Life White Marsh, and GreenMart of Maryland, LLC (“GreenMart Maryland”), operating as Health for Life Baltimore.
Health for Life White Marsh will operate a dispensary in the White Marsh suburb of Baltimore Maryland, an affluent, highly populated area located at 4741 Ridge Road, Nottingham, Maryland 21236. Health for Life Baltimore, located at 6807 Rolling Mill Road, Baltimore, Maryland 21224, will operate a dispensary in an urban, high-traffic area of Baltimore, near North Point Road in the community of Colgate. The Health for Life Baltimore location is conveniently situated near Interstate Routes 695, 95 and U.S. Route 40 and a 15-minute drive from Baltimore’s Inner Harbour, Canton Waterfront, Federal Hill, and Fells Point. Johns Hopkins Bayview Medical Center, a teaching hospital within the world renowned Johns Hopkins Health System, is within two miles of the site.
Through the management agreements with LMS and GreenMart Maryland, we continue to expand upon our existing presence in Maryland, achieving a milestone that is integral to our overall expansion plans, which include a focus on limited-license markets. MPX is now managing three dispensaries in Maryland and one of only fifteen concentrate processing operations.
W. Scott Boyes, Chairman and CEO, MPX
“The Maryland medical cannabis market, with a well-defined regulatory structure and attractive marketplace competition, continues to be a focal point for MPX’s footprint expansion,” commented Beth Stavola, COO, MPX. “With licensing approval, we expect that both facilities will be open and accepting patients by early autumn of 2018.”
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MPX, through its wholly-owned subsidiaries in the U.S., provides substantial management, staffing, procurement, advisory, financial, real estate rental, logistics and administrative services to three medicinal cannabis enterprises in Arizona operating under the Health for Life (dispensaries) and the award-winning Melting Point Extracts (high-margin concentrates wholesale) brands. The successful Health for Life brand operates in the rapidly growing Phoenix Metropolitan Statistical Area. With the acquisition of The Holistic Center, MPX added another operating medical cannabis enterprise to its footprint in Arizona.
GreenMart of Nevada NLV, LLC (“GreenMart NV”) is an award winning licensed cultivation, production and wholesale business, licensed for both the medical and “adult use” sectors in Las Vegas, Nevada, and is already selling wholesale into the Nevada medical cannabis market. GreenMart NV has also optioned suitable locations and intends to enter the higher-margin retail arena by applying for at least two dispensary licenses in the Las Vegas market which will operate under the “Health for Life” brand.
In Massachusetts, MPX is building out and will operate a cultivation and production facility as well as up to three dispensaries and manages three full service dispensaries and one producer in Maryland.
In Canada, MPX has acquired Canveda, which has received its cultivation license from Health Canada, will operate a cultivation and production facility in Peterborough, Ontario. The Company also leases a property in Owen Sound, Ontario, for which an application to Health Canada has been made for a cannabis production and sales license. In addition, the Company will continue its efforts to develop its legacy nutraceuticals business.
