Business
James E. Wagner Cultivation Corporation Signs A Memorandum of Understanding With CannNext (the Netherlands)
James E. Wagner Cultivation Corporation Signs A Memorandum of Understanding With CannNext (the Netherlands).
About this update from James E Wagner Cultivation Corp
[{"type":"text","content":"\n KITCHENER, Ontario, Feb. 27, 2020 (GLOBE NEWSWIRE) -- James E. Wagner Cultivation Corporation (“JWC” or the “Corporation”) (TSX: JWCA.V; OTCQX: JWCAF), is pleased to announce that it has entered into a Memorandum of Understanding (\"MOU\") with CannNext BV (\"CannNext\"), a company based in Amsterdam, the Netherlands, pursuant to which JWC will assist CannNext with its tender to the Government of the Netherlands for a licence to produce medical cannabis in the Netherlands (the \"Tender\"). In support of CannNext’s Tender, JWC has provided certain necessary commitments and attestations required by the Government of the Netherlands. In addition, in connection with the Tender process and, if the Tender is successful, the resulting anticipated production of medical cannabis in the Netherlands, JWC will provide CannNext with industry knowledge and experience related to the cultivation and production of medical cannabis for a consumer market. The MOU outlines the parties’ intention to collaborate in developing cannabis cultivation best-practices. This will involve research and development related to strains, grow methods and lighting practices. JWC and CannNext also intend to negotiate a definitive agreement pursuant to which CannNext will agree to represent JWC in the Netherlands and the European Union for licensing of JWC’s GrowthSTORM™ technology. JWC will also acquire a minority equity position in CannNext. CannNext is  focused on the research and development related to improving yields for controlled medical cannabis cultivation both for and with its own clients. CannNext’s state-of-the-art government licensed, research facility is also located in the Netherlands, and can be immediately converted to production.  Leveraging knowledge to increase yield“We believe that shaping alliances with companies that focus on high-end medical cannabis will benefit both parties to realize a global reach and leverage combined knowledge”, says Eric Uleman, managing director of CannNext. “Combining the long-standing cultivation knowledge of JWC and our focus on light and grow strategies, will result in increasing our chances of becoming a winner in the Dutch tender. We visited the JWC site at 530 Manitou Drive, Kitchener, Ontario, and found that it aligns with our...