True Leaf Medicine International Ltd. completed the purchase of 40 acres of land that encompasses the site of its facility in Lumby, British Columbia, Canada, through its wholly owned subsidiary True Leaf Medicine Inc. The purchase was finalized on January 19, 2018 at a total cost of CAD 3.3 million. True Leaf, closed a CAD 10 million Regulation A+ offering and a concurrent CAD 4 million non-brokered private placement financing with Canadian investors only. The company used a portion of the proceeds from the offerings to complete the purchase of the Lumby site. Additional offering proceeds will be used to build and staff phase one of the True Leaf facility, as well as provide working capital for the True Leaf Pet business. True Leaf's application to produce and distribute cannabis under Health Canada's Access to Cannabis for Medical Purposes Regulations (ACMPR) has completed the security clearance stage, and the company has permission to build its production facility. At this time, True Leaf does not have a license to produce cannabis. True Leaf expects phase one: the construction of a 16,000 square foot hydroponic grow building and a 9,000 square foot building housing offices, extraction facility, laboratory and packaging areas to be completed by the end of summer 2018, with a first crop produced in the fall of 2018. True Leaf's first crop will be required to pass a Health Canada inspection in order for True Leaf to be granted a license to grow medicinal cannabis.