Canyon Gold Corp (GREY:CGCC)

Sunday, June 1, 2014 | Web News
On May 21, 2014, Canyon Gold Corp. entered into an agreement to acquire 100% of the issued and outstanding capital shares of Marshall Thomsen Ltd.,...
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CanyonGold on May 21, 2014 executed a Definitive Agreement with Marshall Thomsen acquiring 100% of its issued and outstanding shares whereby Marshall Thomsen becomes a wholly owned subsidiary of CanyonGold.

CanyonGold, to provide increased value to its shareholders, acquired Marshall Thomsen to enter the lucrative Cannabis Industry and be part of a promising future world trend.

"Joining the Team of CanyonGold provides the opportunity to build and operate a superior production center for cannabis with a view to a very bright future for the Company and value to its shareholders," says Tom Thomsen, President of the newly acquired subsidiary.

Marshall Thomsen applied to Health Canada for a license as a commercial grower of cannabis under the new regulations issued by Health Canada. We are pleased to confirm that the subsidiary has acquired the right to a 20 acre property in the Fraser Valley of British Columbia where it plans to build a facility of, initially, 90,000 square feet, allowing for future expansion on the site. The initial facility will be capable of producing up to 6 million grams of cannabis per year.

Last updated June 2, 2014