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True Leaf Close to Completing Process for Marijuana License

DGAP-News: True Leaf Medicine International Ltd. / Key word(s): Regulatory Approval/Interim Report True Leaf Close to Completing Process for Marijuana License 20.04.2017 / 09:37 The issuer is solely responsible for the content of this announcement.

True Leaf Close to Completing Process for Marijuana License

True Leaf reaches stage five, last stage before pre-license inspection

Vancouver, Canada - (April 20, 2017) - True Leaf Medicine Inc. (True Leaf), a division of True Leaf Medicine International Ltd. (CSE: MJ, FSE: TLA), is two steps away from completing the process to acquire a license to produce and grow marijuana in Canada. True Leaf is now proceeding to stage five of the process, the 'Review', two years after submitting its application to Health Canada.

True Leaf is one out of over 100 companies that currently have applications in the review stage for a license to produce marijuana, out of a total of 1,630 applications received by Health Canada under the Access to Cannabis for Medical Purposes Regulations (ACMPR). Today, there are just 43 licensed producers in Canada.

True Leaf will be working with industry experts to ensure the company meets or exceeds the operating, facility, security, and reporting procedures during this next step in the ACMPR application process. This will allow True Leaf to proceed to a "pre-license inspection" stage in the coming months.

This development comes as the Federal Government tabled the Cannabis Act last week, which will lead to the regulation and control of marijuana used for recreational purposes. True Leaf is now working to ensure the company will comply with regulations directed by Health Canada under this new legislation, to allow True Leaf to participate in all aspects of marijuana production granted to license producers.

"The Cannabis Act regulations appear to closely follow the recommendations of the Task Force on Cannabis Legalization and Regulation and also align with our own recommendations that we released last year," said True Leaf Chair Mike Harcourt. "We feel the regulations will ultimately provide a foundation for the safe and secure production of cannabis within a legal framework that focuses on responsible use."