James E. Wagner Cultivation Corporation (JWC) has entered into an agreement on February 11, 2019 to license its GrowthSTORM™ System to Wellness Farms for use at its cannabis cultivation facility. Pursuant to the agreement, JWC will provide Wellness Farms with technology rights and proprietary knowledge of its technology and equipment.
According to the agreement, JWC will provide operational and strategic services, along with access to its proprietary knowledge relevant to processing an application to Health Canada to become a Licensed Producer. Additionally, JWC will license its proprietary GrowthSTORM™ System for implementation and subsequent use in Wellness Farms' proposed facilities and will offer access to its Standard Operating Procedures (“SOPs”). In consideration for the services, technology rights, and use of proprietary information provided to the licensee under the definitive agreement, the licensee will enter into a streaming agreement with JWC pursuant to which the licensee will agree to provide JWC with between seven to twenty percent (7–20%) of the total cannabis produced at the Licensee’s respective facilities. The exact proportion of cannabis produced by Wellness Farms and provided to JWC will be determined by the package of service, equipment, and technology rights which the licensee elects to subscribe for from JWC.
For more information:
JWC
1-888-594-4272
info@jwc.ca
jwc.ca