NIAGARA FALLS, ON / ACCESSWIRE / December 23, 2019 / EnerDynamic Hybrid Technologies Corp. (TSXV:EHT) ("EHT") is pleased to announce the completion of EHT's new Micro-Grow Cannabis facility at their Niagara Falls location, as previously announced on September 24, 2019.
The facility will serve two purposes: (1) to showcase EHT's technology for building Micro-Grow units for customers to come and view the merits and characteristics thereof; and (2) to allow EHT to grow up to 600Kg of medical grade cannabis for sale to customers.
EHT will now apply for a Micro Grow licence from the Government of Canada to initiate the growing process. EHT anticipates the licence will take from 90 to 120 days to receive. Revenues from the facility would be expected in the second/third quarter of 2020. According to the Canada Cannabis Spot Index (CCSI), the current average selling price of medical grade cannabis in the last week was $6.29/g ($6,290/kg). Based on EHT's costing models, it will have average production costs of approximately only 50 cents per gram, which is significantly lower than the industry average cost of $1.58 per gram. This cost reduction is due to EHT's superior technology from Growratio Lighting and Controls, the ENERTEC Grow Rooms and being able to run the facility off-grid.
EHT's CEO, John Gamble, commented, "This is a very important step for our company; not only does it help to show off our leading-edge technology, but it will give EHT very stable revenue for the future. We will be incorporating our new solar panel technology into the facility and our leading-edge battery and inverter technology from our partner Alpha-Outback Technologies". Mr. Gamble went on to say "I am extremely disappointed in comments being posted on chat rooms that depict our company in negative ways. We have disruptive technology that takes time to put into the mainstream. We welcome our shareholder base to come to our Niagara Facility for a tour and see our promising valuable technology for themselves."
Please see the link to our facility plans: Click Here Now!
About EnerDynamic Hybrid Technologies
EHT delivers proprietary, turn-key energy solutions which are intelligent, bankable and sustainable. EHT's expertise includes the development of its ENERTEC module structures with full integration of smart energy solutions. Using a proprietary skin and foam core that is stronger than traditional wood or steel structural insulated panels, EHT provides exceptional thermal energy efficiency in modular homes, cold storage facilities, residential/commercial out buildings and emergency/temporary shelters. EHT works with its partners worldwide to erect the buildings on-site utilizing EHT staff and local crews. In addition to traditional support to established electrical networks, ENERTEC buildings excel where no electrical grid exists.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The statements herein that are not historical facts are forward‐looking statements. Forward-looking information relating to sales of the products (the "Opportunities") involves risk, uncertainties and other factors that could cause actual events, results, performance, prospects, for the Opportunities to differ materially from those expressed or implied by such forward-looking information. Although EHT believes that the assumptions used in preparing the forward-looking information on the Opportunities outlined in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. EHT disclaims any intention or obligation to update or revise any forward-looking information, whether a result of new information, future events or otherwise, other than as required by applicable securities laws.
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SOURCE: EnerDynamic Hybrid Technologies Corp.
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