NEWS RELEASE | Monday, February 11th, 2019
Cerus Energy Group Ltd. TSX-V: CEA (“Cerus” or “the Company”) is proud to announce that Camarico Land & Development (Camarico) has received a non-appealable development permit for Phase I of the “Georgetown” cannabis cultivation development in municipal district of Vulcan County, Alberta.
Camarico received a formal development permit for Phase I of it’s multi-phase development plan on February 6, 2019. Camarico’s Phase I, is a 75 acre development footprint that is comprised of 18 lots. Each lot will contain a single 58,000 square-foot cultivation building that will be serviced by Camarico’s own private utilities. Furthermore, Camarico has a total of 320 acres zoned under “direct control” for the purpose of cannabis cultivation, with an additional 1,440 acres under option for future development.
Camarico’s planned production target is to have a canopy density rating of 200,000 square feet per building, for a combined Phase I canopy square footage of 3,600,000 square feet. More specifically, the total Phase I canopy density is 48,000 square feet per acre. The achievement of this industry leading density and crop production capacity will be directly attributable to Aggro Manufacturing’s “El Rollo” proprietary and efficient growing system. This stand-alone “El Rollo” growing system will not only provide maximal efficiencies in power, water, fertilizer and CO2 consumption, but most importantly it will have enhanced reliability with minimal staffing requirements.
The “Georgetown” cannabis cultivation development aims to set the industry standard for high-density and ultra-high efficiency marijuana cultivation. This achievement will allow Camarico Land & Development to push forward its aggressive plans for strategic industry partnerships, long-term success and high margin profitability.
CEO R. Mackenzie Loree stated;
“We are extremely pleased to have the opportunity to develop “Georgetown” in the great County of Vulcan. The Company’s immediate focus is on the completion of our Saskatchewan partner’s facility, and their ultimate success in obtaining a Health Canada license for the production and sale of cannabis.”
“Furthermore, the company is in the final stages of completing the Camarico/Cerus RTO, formal COB and transfer to the Canadian Securities Exchange. We appreciate the continued support of our shareholders and the future success that we will achieve together.”
About Cerus Energy Group
Cerus Energy Group is a Tier 2 Canadian-based oil and gas exploration company trading on the TSX Venture Exchange with property assets in both Alberta and Saskatchewan.
About Cerus Energy Group's Subsidiary Companies
Texalta Industries Ltd. and Lomac Canada Ltd. are wholly owned subsidiary company's serving various sectors of the oil and gas industry in the Province of Alberta. Maverick Northstar is a private joint venture company between Petrostar Petroleum Corp. of Alberta, Canada and Maverick Synfuels Inc of North Carolina, USA. Maverick Northstar is a chemical processing company focused on improving the value of methane through the production and utilization of methanol in Western Canada located in the province of Alberta. Petrostar holds 60% ownership of Maverick Northstar shares. For further information, please contact:
Mackenzie Loree, CEO
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