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James E. Wagner Cultivation Corporation Announces Increase in Yield Forecast and Related Production Capacity Forecast at JWC 2
James E. Wagner Cultivation Corporation Announces Increase in Yield Forecast and Related Production Capacity Forecast at JWC 2.
About this update from James E Wagner Cultivation Corp
[{"type":"text","content":"\nKITCHENER, Ontario, Aug. 06, 2019 (GLOBE NEWSWIRE) -- James E. Wagner Cultivation Corporation (“JWC” or the “Corporation”) (TSX VENTURE: JWCA; OTCQX: JWCAF) is pleased to announce that it is raising its production capacity forecast at its flagship facility, JWC 2, located at 530 Manitou Drive in Kitchener, Ontario. The Corporation now projects JWC 2 has the potential to produce 35,000 kg of cannabis flower per annum, versus the Corporation’s previous public guidance of 30,000 kg per annum, once the facility is built to full capacity.\n The increase in production forecast is primarily the result of an increased yield, achieved mainly through the implementation of advanced cultivation processes, including the GrowthSTORM™ Dual Droplet™ System, and assumes that the increased yield realized in the quarter ended June 30, 2019 will be sustainable by the Corporation. For the three months ended June 30, 2019, the average yield per plant at the Corporation’s facilities totaled 261 grams per plant, versus an estimated average of 204 grams per plant set out in the Corporation’s interim financial statements for the three months ended March 31, 2019, available at sedar.com (biological assets). This represents a 27.94% increase in actual yields versus estimated yields for the quarter. As a result, JWC produced a record 434 kg of cannabis in the most recent quarter, ending June 30, 2019.  “The continued commitment to operational excellence is a core principal underlying JWC. Our growers have done a fantastic job, and in combination with equipment improvements and design refinements, we now have the ability to produce more cannabis than ever. This will result in a variety of improved operational metrics in months to come.” Nathan Woodworth, CEO. About James E. Wagner Cultivation Corporation JWC’s wholly-owned subsidiary is a Licensed Producer under the Cannabis Regulations, formerly the Access to Cannabis for Medical Purposes Regulations (“ACMPR”). JWC is a premium cannabis brand, focusing on producing clean, consistent cannabis. JWC uses an advanced and proprietary Dual Droplet™ aeroponic platform named GrowthSTORM™. JWC was founded as a family company and is based on family values. JWC began as a collective of patients and growers under the ...