TORONTO, Feb. 06, 2020 (GLOBE NEWSWIRE) — Blueberries Medical Corp. (CSE: BBM) (OTC: BBRRF) (FRA: 1OA) (the “Company” or “Blueberries“), a Latin American licensed producer of medicinal cannabis and cannabis-derived products, is pleased to provide the following update on the Company’s recent significant operational achievements:
Commissioning of First Extraction LineBlueberries has commissioned the first extraction line at its 2,800 m2 (30,138 ft2) state-of-the-art extraction facility, strategically located in Cundinamarca, the region with the highest concentration of licensed cannabis producers. The first extraction line is fully operational and located in a modern and secure industrial park 30 minutes outside of Bogota.The newly commissioned equipment will provide sufficient capacity for the Company to process biomass from Blueberries’ vertically integrated cultivation operations as well as its contract growers and other licensed producers.The facility uses supercritical CO2 extraction technology to produce the highest quality cannabis oil and has been designed with the flexibility to also employ ethanol extraction technologies to match market demand.The initial capacity of the facility is 80,000kg/year of dried flower with the ability to accommodate significant expansion of up to five additional extraction lines. The Blueberries team is heavily focused on establishing a best-in-class extraction operation with the goal of becoming a leading extraction center in Latin America and an international supplier of medicinal-grade cannabis oil extracts, active pharmaceutical ingredients (APIs) and related products.The Company has approximately 450kg of dry flower produced at its Guatavita facility readily available to perform testing and optimization of the extraction, with significant cultivation underway as previously announced.The installed Vitalis extraction line is the first equipment of its kind in Colombia having stainless-steel compressor and extraction vessels, built to stringent EU-GMP (European Union – Good Manufacturing Practices) standards. The Company’s facility is designed to comply with GMP standards to ensure standardization and consistency of production. The Company is currently implementing full GMP standards at its extraction facility and expects to commence the certification process shortly which would permit additional export potential to international markets.“We are extremely pleased to announce the commissioning of the first extraction line at our extraction facility, a major milestone for Blueberries. Our team is executing exceptionally well and is focused on our strategic and operational priorities. We are confident in our ability to continue meeting operational and commercial goals for 2020 as we accelerate towards commercial sales using our scalable and low-cost approach to address the local and international demand for cannabis oil. We are also looking forward to commencing work with our contract and associate growers who share our vision for producing the highest quality cannabis. Our goal is to support our partners, who are licensed producers by providing our proprietary genetics, propagation services and extraction capabilities,” stated Camilo Villalba, Chief Executive Officer.Supply Agreements with Contract Growers
During the past month, Blueberries has entered into multiple agreements with local contract and associate growers to secure over 40,000kg/year of dried cannabis supply which is over half of the extraction facility’s current capacity. In addition to the Company’s own flower production, these agreements will scale production capacity to meet expected sales growth and maximize the use of the Company’s extraction facility. The contracts provide dried cannabis supply to Blueberries at no up-front cost to produce cannabis oil which is shared between Blueberries and the contract growers.Blueberries holds a variety of approved proprietary CBD strains positioning the Company to commercialize and distribute CBD genetics. These strains are currently being cultivated at the Company’s Guatavita facility. The Company will propagate genetics for contract and associate growers which will in turn supply high quality biomass for the Company’s extraction center. This is a scalable infrastructure with potential to generate increasing revenues, profit and free cash flow.The Company intends to begin commercial production of CBD-dominant oils and products in the first half of 2020. This production will be used primarily to produce medicine and sold to patients individually as specially prepared formulations. Further Strengthens Operations TeamEffective January 20, 2020, Mr. Carlos Maldonado has been appointed as the Company’s Vice President of Operations. Mr. Maldonado brings over two decades of operational leadership in the pharmaceutical industry at Merck and GlaxoSmithKline, as Logistics Director and Production Manager, respectively. This appointment further strengthens the Company’s strategic focus on operational excellence and commitment to accelerate growth.“I am very proud to join the Blueberries team as we take this significant step towards the commercial phase. I look forward to contributing to our shared objectives leveraging my extensive experience and relationships in the pharmaceutical industry,” stated Carlos Maldonado, Vice-President of Operations.To keep up to date with the Company’s recent developments, please visit the media center on the Company’s website.About Blueberries Medical Corp.
Blueberries is a Latin American licensed producer of naturally grown premium quality cannabis with its primary operations ideally located in the Bogotá Savannah of central Colombia and operations currently being established in Argentina. The Company is led by a specialized team with proprietary expertise in agriculture, genetics, extraction, medicine, pharmacology and marketing, Blueberries is fully licensed for the cultivation, production, domestic distribution, and international export of CBD and THC-based medical cannabis in Colombia. Blueberries’ combination of leading scientific expertise, agricultural advantages and distribution arrangements has positioned the Company to become a leading international supplier of naturally grown, processed, and standardized medicinal-grade cannabis oil extracts and related products.Additional information about the Company is available at www.blueberriesmed.com. For more information, please contact:Camilo Villalba, Chief Executive Officer
Tel: +57 (313) 483 0131Ian Atacan, Chief Financial Officer
Tel: +1 (416) 562 3220Jessika Angarita, Pacta Relations
Tel: +1 (305) 877 4710Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward looking statements relate, among other things, to: commencement of commercial production of CBD-dominant oils and products in the first half of 2020, successful implementation of full GMP standards at its extraction facility to allow for additional export potential to international markets, achieving additional milestones in 2020 as contemplated, or at all, ability to expand distribution networks, ability to expand and upgrade the Company’s cultivation facilities in Colombia, internal expectations, expectations regarding the ability of the Company to access new Latin American and international markets, the ability to attract and retain new customers, and future expansion plans including development of the cultivation, production, industrialization and marketing of cannabis for commercial and scientific purposes.These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the Colombian and international medical cannabis market and changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution and sale of cannabis and cannabis related products in Colombia, Argentina and elsewhere; and employee relations. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.Additional information regarding the Company, and other risks and uncertainties relating to the Company’s business are contained under the heading “Risk Factors” in the Company’s Listing Statement dated January 31, 2019 filed on its issuer profile on SEDAR at www.sedar.com.No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Photos accompanying this announcement are available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/69ae1173-0489-4e40-b02d-7f34418e16cehttps://www.globenewswire.com/NewsRoom/AttachmentNg/c95a07f1-ae6c-4cb4-8e5a-64572e678c15
Innocan’s Over-The-Counter Pain Relief Spray Receives FDA’s Technical Validation for Marketing in the USA
Herzliya, Israel and Calgary, Alberta–(Newsfile Corp. – July 13, 2020) – Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (the “Company” or “Innocan“), is pleased to announce that it has received notice from the FDA that Innocan’s over-the-counter Relief & Go Pain Relief spray product has successfully received technical validation and approval to commence marketing in the USA. Innocan’s pain relief formulation contains a combination of Magnesium oil, Methyl salicylate, Menthol and CBD. The Relief & GO Pain Relief spray is designed to target pain-related muscle and provide relief for joint pain. The unique formulation is administered with a simple dose of spray, roll-on or lotion.
To view an enhanced version of Figure 1, please visit:
“We are excited to receive the approval from the FDA to market our flagship pain relief product in the USA” Iris Bincovich, co-founder and CEO of Innocan states and she continues: “This represents the Company’s ability to develop and practice breakthrough technologies to create new CBD based products for the growing pain relief market.”
According to the American Academy of Pain Medicine chronic pain affects approximately 1.5 billion people worldwide, and research by Prescient & Strategic Intelligence reported that “Chronic Pain Treatment Market to Reach US $105.9 Billion by 2024”.
The Company, through its wholly owned subsidiary, Innocan Pharma Ltd. (“Innocan Pharma Israel”), is a pharmaceutical tech company that focuses on the development of several drug delivery platforms combining cannabidiol (“CBD”). InnoCan and Ramot at Tel Aviv University are collaborating on a new, revolutionary exosome-based technology that targets both central nervous system (CNS) indications and the Covid-19 Corona Virus. CBD-Loaded Exosomes hold the potential to provide a highly synergistic effect of anti-inflammatory properties and help in the recovery of infected lung cells. This product, which is expected to be administrated by inhalation, will be tested against a variety of lung infections.
The Company signed on a worldwide exclusive license agreement with Yissum, the commercial arm of the Hebrew University of Jerusalem to develop CBD drug delivery platform based on a unique-controlled release Liposome to be administrated by Injection. The company plans, together with Prof. Berenholtz, Head of the Laboratory of Membrane and Liposome Research of the Hebrew University to test the Liposome platform on several potential indications. The company is also working on a dermal product integrating CBD with other pharmaceutical ingredients as well as the development and sale of CBD-integrated pharmaceuticals, including, but not limited to, topical treatments for relief of psoriasis symptoms as well as the treatment of muscle pain and rheumatic pain. The founders and officers of InnoCan have commercially successful track records in the pharmaceutical and technology sectors in Israel and globally.
For further information, please contact:
For InnoCan Pharma Corporation:
Iris Bincovich, CEO
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Caution regarding forward-looking information
Certain information set forth in this news release, including, without limitation, the effectiveness and safety of the Company’s products, , information regarding the markets, requisite regulatory approvals and the anticipated timing for market entry, is forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond InnoCan’s control. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by InnoCan, including expectations and assumptions concerning the anticipated benefits of the products, satisfaction of regulatory requirements in various jurisdictions and satisfactory completion of requisite production and distribution arrangements. Forward-looking information is subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include but are not limited to: general global and local (national) economic, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and relationships with suppliers, manufacturers, customers, business partners and competitors. There are also risks that are inherent in the nature of product distribution, including import / export matters and the failure to obtain any required regulatory and other approvals (or to do so in a timely manner) and availability in each market of product inputs and finished products. The anticipated timeline for entry to markets may change for a number of reasons, including the inability to secure necessary regulatory requirements, or the need for additional time to conclude and/or satisfy the manufacturing and distribution arrangements. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release concerning the timing of launch of product distribution. A comprehensive discussion of other risks that impact InnoCan can also be found in InnoCan’s public reports and filings which are available under InnoCan’s profile at www.sedar.com.
Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. InnoCan Pharma does not undertake to update, correct or revise any forward-looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59564
TransCanna Receives State-Wide Operating License
Now owns largest known fully licensed cannabis facilities in California
Vancouver, British Columbia–(Newsfile Corp. – July 11, 2020) – TransCanna Holdings Inc. (CSE: TCAN) (FSE: XETR) (“TransCanna” or the “Company”) is pleased to announce that its wholly-owned subsidiary, Lyfted Farms, Inc. (“Lyfted”), was successfully granted a Type 11 ‘Distributor’ license by the California Bureau of Cannabis Control for its 196,000 square foot Daly Avenue Facility.
This long-anticipated milestone marks the completion of all state and local licenses required for the Company to begin operations at its flagship cannabis processing facility in Modesto, California.
This state-wide license represents Lyfted’s most major milestone to date in meeting the distribution and production capabilities needed to meet the escalating demand for its products in the world’s largest cannabis market. The license was granted after three levels of approvals were achieved at the county and state level and will allow for the commencement of packaging, transport, wholesale, pre-roll assembly, labeling, testing, contract packaging (white-labeling), and of course distribution of cannabis products to all licensed retailers across the state.
“This is the most exciting development in our history and what everyone has been working towards,” says Bob Blink, TransCanna CEO. “Being granted a license at the state level is a long, costly, and complex process, and one that requires navigating and understanding a complex regulatory process. It’s a significant barrier to entry for most companies, so this marks a huge turning point for us. We are delighted to have achieved our biggest goal to date and excited to be able to better serve the demands of the California cannabis market.”
The Company is currently completing upgrades to the flagship Daly Facility. Commercial cannabis activities are expected to commence at Daly August 2020, via the deployment of a 16,000 square foot cannabis distribution center (Phase 1). To date, Lyfted has been able to process in excess of $1M USD/month in wholesale cannabis transactions out of a distribution space of 1,000 square feet from its Jerusalem Court facility. These upgrades will mean the Company now has 16,000 square feet of distribution space at its disposal as of August 2020.
“This exponential increase in capacity is incredibly exciting for investors,” says Blink, adding the Company has been focused on building out its wholesale and distribution business while awaiting its final license. “Having processed a million dollars’ worth of product out of a single one-thousand square foot facility, we are anticipating significant growth now that our 196,000 square foot operation is online.”
Lyfted anticipates hiring up to 250 full-time employees at the flagship site with a strong focus placed on social equity and a diverse workforce that is reflective of the communities it serves and operates in.
About TransCanna Holdings Inc.
TransCanna Holdings Inc. is a California based, Canadian listed company building cannabis-focused brands for the California lifestyle, through its wholly-owned California subsidiaries.
On behalf of the Board of Directors
Bob Blink, CEO
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws or forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs regarding future events of management of the Company. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation estimates and forecasts and statements as to management’s expectations for growth and the commencement of operations of the Company’s Daly facility.
The forward-looking information in this press release is based upon certain assumptions that management considers reasonable in the circumstances, including that operations will commence at the Company’s Daly facility in Modesto, California, as and when expected.
These forward‐looking statements involve numerous known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially from any future results, events or developments expressed or implied by such forward-looking statements. Risks and uncertainties associated with the forward-looking information in this news release include, among others, dependence on obtaining and maintaining regulatory approvals, including state, local or other licenses and any inability to obtain all necessary governmental approvals licenses and permits to complete upgrades to its Daly facility in a timely manner; engaging in activities which currently are illegal under U.S. federal law and the uncertainty of existing protection from U.S. federal or other prosecution; regulatory or political change such as changes in applicable laws and regulations, including U.S. state-law legalization, particularly in California, due to inconsistent public opinion, perception of the medical-use and adult-use marijuana industry, bureaucratic delays or inefficiencies or any other reasons; any other factors or developments which may hinder market growth;; reliance on management; and the effect of capital market conditions and other factors (including those related to the COVID-19 pandemic) on capital availability; competition, including from more established or better financed competitors; and the need to secure and maintain corporate alliances and partnerships, including with customers and suppliers.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59555
PURA Cannabis Cultivation Spinoff and Dividend Breaking News Update
Dallas, Texas–(Newsfile Corp. – July 10, 2020) – Puration, Inc. (OTC Pink: PURA) now has the following update to the press release published this morning about the management buyout of a separate public company that will in turn purchase PURA’s cannabis cultivation spinoff in exchange for common stock scheduled to close today. The management buyout has been executed by all parties. The purchase is scheduled to be funded on Monday. The management/owner team plans to make a formal announcement on Tuesday, July 14, 2020 (the formal announcement was previously expected on Monday, but to ensure funding is complete first, the announcement is now scheduled for the next day).
PURA – Logo
To view an enhanced version of this graphic, please visit:
The common stock issued in exchange for the PURA spinoff is intended to be issued to PURA shareholders in a dividend distribution.
NCM Biotech, a subsidiary of Kali-Extracts (OTC Pink: KALY) will also be acquired and merged with PURA’s cannabis spinoff.
The management team purchasing control of the target public company is expected to confirm the planned acquisitions of PURA’s cannabis cultivation company and KALY’s NCM Biotech in the announcement now scheduled for Tuesday, July 14, 2020.
PURA’s cannabis cultivation operation is thriving. The operation has recently purchased and relocated to a new property from its former leased property. Texas lawmakers have recently implemented hemp friendly farming regulations and in so doing, universities within the State of Texas have initiated hemp farming research programs. PURA’s cannabis cultivation spinoff has initiated a number of joint research applications with Texas universities.
NCM Biotech is focused on medical research and the development of treatments derived from its patented cannabis extraction process. See a recent research report on CBD extracts derived from NCM Biotech’s patented extraction process: Journal of Cannabis Research.
For more information on Puration, visit http://www.purationinc.com
This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59533
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