Tickers: XTSX:CEA
Tags: Oil & Gas
August 20, 2018 / TheNewswire / Calgary, Alberta - Cerus Energy Group (TSX-V:CEA) ("Cerus" or the "Company") is pleased to announce that Camarico Land & Development (Cerus subsidiary) has received a Development Permit for its Georgetown Development in the County of Vulcan. The permit will take effect on September 6th, 2018, unless otherwise notified by the County.
Georgetown is a 75-acre development, classified under Direct Control by the County of Vulcan Land Use Bylaws. The planned development is comprised of 19 lots, serviced by private utilities for the exclusive designation of cannabis cultivation. The company will erect one 58,000 sq/ft +- building per lot, to service crop production and or the management of mother plants for clone supply. Designated crop production operations will be conducted with the use of the company's "El Rollo" growing machines.
The primary objective of the company is to become one of the lowest cost producer of high grade marijuana for concentrates production. As part of this objective, our focus will be to service the wholesale processors market, with a consistent quality, supply and price in order to support and assist their growth of respective edible and concentrates markets.
The company is looking forward to the completion of the "El Rollo" Growing Machines and Fabrication Process, through the completion of testing with a qualified third party for performance verification and optimization activities.
Camarico Chief Executive Officer, R. Mackenzie Loree stated:
"The Company is extremely pleased with the issuance of the Georgetown development permit from Vulcan County. This development provides the foundation for our ambitious business plan, while also giving stakeholders such as the residents of County, an immense opportunity to participate in the long-term growth in the new and enormous potential of the worldwide marijuana market. The company is committed to working with the county in order to turn our Georgetown facility and operations into the benchmark for success and leadership of marijuana cultivation in Canada."
For more information on Cerus and the Camarico Group operations please visit the Camarico website at: https://www.camarico.ca/.
About Cerus Energy Group Ltd.
Cerus is a Tier 2 Canadian-based oil and gas exploration company trading on the TSX Venture Exchange with property assets in both Alberta and Saskatchewan.
For further information, please contact:
Bruce Scafe, Secretary
1-877-737-8864 or bscafe@cerusenergy.com
Alternate Contact.
Mackenzie Loree, CEO
1-403-861-6779 or mloree@cerusenergy.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING INFORMATION
Certain information in this news release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to the Company's beliefs, plans, expectations, anticipations, estimates and intentions. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this news release describes the Company's expectations as of the date of this news release. The results or events anticipated or predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from a conclusion, forecast or projection in such forward-looking information include, among others, risks arising from general economic conditions and adverse industry events.
When relying on forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION ON AT ANY PARTICULAR TIME.
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