Tickers: XTSX:CEA
Tags: Oil & Gas
February 7th 2019 / TheNewswire / Calgary, Alberta
Cerus Energy Group Ltd. TSX-V: CEA ("Cerus" or "the Company") is proud to announce that the company has received a non-appealable development permit for Phase I of the Georgetown cannabis cultivation development in the county of Vulcan, Alberta.
Camarico Land & Development, has received a formal development permit for Phase I on February 6th, 2019. Phase I consist of 75-acres and is comprised of 18 lots with a single 58,000 SQFT building on each lot services by company owned private utilities. The company has a total of 320 acres zoned under "direct control" for the purpose of cannabis cultivation with an additional 1,440 acres under option for future development.
The target canopy density rating will be 200,000 SQFT per building, for a combined Phase I canopy square footage of 3,600,000 SQFT. The total Phase I canopy density is 48,000 SQFT per acre. The increased density and crop production capacity is directly attributed to Aggro Manufacturing's "El Rollo" proprietary and efficient growing system. The stand-alone "El Rollo" systems will provide maximal efficiencies in power, water, fertilizer and CO2 consumption with minimal staffing requirements.
The aim of the Georgetown development is to set the industry standard for high density and ultra-high efficiency marijuana cultivation. This achievement will allow Camarico to progress its aggressive plans for strategic industry partnerships, long term success and high margin profitability.
Camarico Land & Development plans to formally start construction in Q2 2019 with the use of vendor-based finance, private funding, debt and staged equity offerings.
CEO R. Mackenzie Loree stated "We are extremely please to have the opportunity to develop Georgetown in the great county of Vulcan. The Companies immediate focus is on the completion of our Saskatchewan partners facility and their ultimate success obtaining a Health Canada license for the production and sale of cannabis. The companies next major hurdle is the completion of the Camarico/Cerus RTO and formal COB. We appreciate the continued support of our shareholders and the future success that we will achieve together."
For more information on Cerus Energy and Camarico Group operations, visit us online at:
Cerus Energy Group website at https://www.cerusenergy.com
Camarico Group website at: https://www.camarico.ca/
Follow Camarico Group on Twitter at https://twitter.com/camaricogroup
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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