James E. Wagner Cultivation Corporation and Fluence Enter Into Agreement to Evaluate Impact of LED Lighting
KITCHENER, Ontario, Oct. 30, 2019 (GLOBE NEWSWIRE) — James E. Wagner Cultivation Corporation (“JWC” or the “Corporation”) (TSX VENTURE: JWCA; OTCQX: JWCAF), is pleased to announce that its wholly-owned subsidiary, James E. Wagner Cultivation Ltd., has entered into a mutually collaborative product trial and evaluation agreement (the “Agreement”) with Fluence Bioengineering, Inc. (“Fluence”) to test and provide feedback regarding the performance, functionality and suitability of Fluence’s VYPR 2p Broad Spectrum LED lighting solution. Analysis will be conducted under the Agreement for a term of eight months to assess whether JWC can further improve its high level of energy efficiency by using lighting equipment provided by Fluence to help optimize cultivation performance at its flagship JWC2 facility located at 530 Manitou Drive, Kitchener, Ontario.
Throughout the term of the Agreement, Fluence will visit JWC to provide assistance with data collection, training on best practices for cultivating with LED lighting solutions and recommendations for climatic parameters to promote optimal plant growth. In turn, JWC will provide data analysis to Fluence with respect to cultivation performance in the flowering rooms utilizing Fluence’s lighting solutions.“As a cultivator focused on optimizing plant metrics and yields, we are always looking at ways to enhance cultivation performance,” said Nathan Woodworth, President and CEO of JWC. “We expect Fluence’s LED solutions to provide a material cost and performance benefit for JWC. If the endpoint is met, it will reduce production costs and help augment yield per plant, which is already among the highest in the industry. We look forward to analyzing the results once the grow cycle data becomes available.”If the project is successfully completed in accordance with the criteria set out in the Agreement, JWC intends to extend the relationship with Fluence by purchasing certain equipment from Fluence.“At Fluence, we are dedicated to providing cultivators with the most innovative and efficient technology for growing high-quality cannabis,” said David Cohen, CEO of Fluence. “Our collaboration with JWC reinforces our commitment to exploring the interaction between light and life with industry-leading research and best practices for building advanced cultivation facilities.”Criteria to be analyzed include a defined cost benefit relative to each growing cycle and enhanced cultivation performance as defined in the Agreement.About Fluence by OSRAMFluence Bioengineering, Inc., a wholly-owned subsidiary of OSRAM, creates the most powerful and energy-efficient LED lighting solutions for commercial crop production and research applications. Fluence is a leading LED lighting supplier in the global cannabis market and is committed to enabling more efficient crop production with the world’s top vertical farms and greenhouse produce growers. Fluence global headquarters are based in Austin, Texas, with its EMEA headquarters in Munich, Germany. For more information about Fluence, visit https://fluence.science.About James E. Wagner Cultivation CorporationJWC’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 Marihuana Medical Access Regulations (the precursor to ACMPR). Since its inception, JWC has remained focused on providing the best possible patient experience. JWC’s operations are based in Kitchener, Ontario. Learn more at www.jwc.ca.For additional information about JWC, please refer to JWC’s profile on SEDAR (www.sedar.com) or the Corporation’s website (www.jwc.ca).Notice regarding forward-looking statements:This press release contains statements including forward-looking information for purposes of applicable securities laws (“forward-looking statements”) about JWC and its business and operations which include, among other things, statements regarding its current and future grow operations, the tracking of data, possible improvements to the energy efficiency and cultivation performance of JWC, anticipated cost savings and increased yield of JWC and the intention of JWC to purchase equipment from Fluence. The forward-looking statements can be identified by the use of such words as “will”, “expected”, “approximately”, “may”, “could”, “would” or similar words and phrases. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those implied in the forward-looking statements. For example, risks include risks regarding the cannabis industry, economic factors, the equity markets generally, building permit related risks and risks associated with growth and competition as well as the risks identified in the Corporation’s Filing Statement available under the Corporation’s profile at www.sedar.com. Although JWC has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release and are based on current assumptions which management believes to be reasonable. The Corporation disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.For more information about this release, please contact:Nathan Woodworth, President & CEO of JWC
Email: [email protected]
Phone: (519) 594-0144 x421ORInvestor Relations
Jonathan Leuchs, CMA
Email: [email protected]
Phone: (949) 432-7566