White Sheep Expands Operations to Australia - New Strategic Partnership with Asterion Cannabis Inc. to Build the World's Largest Grow Facility
Toronto, November 14, 2018 – White Sheep Corp. ("White Sheep") is pleased to announce that its wholly-owned subsidiary, White Sheep Services Corp., has entered into a consulting agreement with Asterion Cannabis Inc. ("Asterion") with plans to establish the world’s largest automated greenhouse cannabis grow facility in Queensland, Australia.
Under the consulting agreement, Hamish Sutherland, President and Chief Executive Officer of White Sheep, has been appointed as the Chief Operating Officer of Asterion to build and commission the facility, with the goal of being the largest such cannabis facility in the world by 2023.
Mr. Sutherland’s duties will include oversight for the development and operations of Asterion’s planned 4.3-million square foot facility. The revolutionary facility is planned to be automated and powered by renewable energy and is expected to produce annual cannabis capacity of more than 500,000 kg. The first phase of 1-million square feet is expected to be in production in 2020.
“Australia is an exciting opportunity for White Sheep and Asterion is the right partner for this expansion of our operations into Australia,” says Hamish Sutherland, President and CEO of White Sheep Corp. and Chief Operating Officer of Asterion Cannabis Inc. “We are working closely with the government of Queensland and in consultation with the Australian Department of Health to develop Asterion’s facility into the world’s largest automated cannabis grow facility, with the potential to change the quality of lives throughout the nation and around the world.”
“Asterion is pleased to welcome Hamish Sutherland and White Sheep to lead our operations in Australia,” says Stephen Van Deventer, Chairman and Chief Executive Officer of Asterion Cannabis Inc. “Mr. Sutherland’s exceptional experience, including seven years working with Austrade (the Australian Trade and Investment Commission) and five years in legal Canadian cannabis operations, combined with the vision of the Asterion founders, has the potential to create real financial value for Asterion and its shareholders.”
Mr. Sutherland is a pioneer in the cannabis sector with a successful track record in building companies and generating returns for investors. His past achievements and contributions during his tenure as founding Chief Operating Officer of Bedrocan Cannabis Corp. include overseeing the building and commissioning of a 52,000 square foot state of the art automated facility in suburban Toronto and delivering over $2.0-billion in investor value from the acquisition of Bedrocan by Canopy Growth Corporation.
About White Sheep Corp.: White Sheep is a commercial operator and strategic investor in global cannabis assets with direct operational expertise in building successful, large-scale, automated cannabis grow facilities and meeting regulatory and compliance standards. Over the past 20 years, the White Sheep team has created billions of dollars in investor value across multiple industries, including over $2.0-billion in the cannabis industry alone. For more information: www.whitesheepcorp.com @whitesheepcorp.
About Asterion Cannabis Inc.: Asterion is a Canadian cannabis company with operations in Australia, specializing in organic medical cannabis with a goal of becoming an industry leader in next generation cannabis products. The company is focused on the future of precision agriculture and aims to produce the highest quality, genetically uniform cannabis strains, at an affordable price. Asterion is led by a team of highly experienced executives with over 120 years of combined experience in medical cannabis, renewable energy, capital markets, and other highly relevant sectors across North America, Oceania, Europe, Africa and Asia.
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Cautionary Note Regarding Forward-Looking Statements
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains certain “forward-looking statements”. Other than statements of historical fact, all statements included in this release, including, without limitation, statements regarding future plans and objectives of White Sheep and Asterion, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Various risks and uncertainties could cause actual results to differ materially from White Sheep and Asterion's expectations. Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.