ALGAE DYNAMICS CORP REVISED BUSINESS STRATEGY TO INCLUDE PRODUCT DEVELOPMENT USING OTHER BOTANICALS SUCH AS CANNABIS AND HEMP...
March 30 2017 - 1:18PM
Marketwired
TORONTO, CANADA / March 30, 2017, 9:30 AM EDT/ ALGAE DYNAMICS
CORP (OTCQB: ADYNF) (the "Company" or "ADC"), a development stage
company previously focused solely on commercialization of its
proprietary BiloSilo™ system for the cultivation of highly-pure
algae biomass, today announced a formal re-alignment of its
business focus and strategy.
The Company had previously announced, in December 2016, that it
was considering ways to capitalize on synergies between its focus
on algae cultivation and algae oil extraction, and oil extractions
from other botanicals such as cannabis and hemp. The result of
these efforts is a new strategy to develop unique health and
nutraceutical products utilizing cannabis, hemp and algae oils.
Management believes that this strategy engenders both an immediate
product development opportunity leading to near-term revenue and a
longer-term vertically-integrated sustainable enterprise
approach.
The revised strategy resulted in a seven-step program for 2017
aimed at rapid implementation of this strategy, as follows:Research
Agreement with University of Waterloo to investigate the use of
cannabis oil in the context cancer - $600,000, three-year program
(signed February 24, 2017)
Research Agreement with University of Western Ontario to
investigate the use of cannabis derivatives for the development of
novel pharmacotherapies for mental health - C$1,000,000, four-year
program (signed March 13, 2017).
Collaboration Agreement with ARA - Avanti Rx Analytics, a
company approved by Health Canada, to extract, purify, manufacture,
sell, import/export medical marihuana products (signed March 15,
2017).
Sign supply agreements with cannabis producers, licensed by
Health Canada. Select location suitable for future cannabis
production.
Apply to Health Canada for licence to produce, sell,
import/export medical cannabis.
Develop collaboration opportunity with pharmaceutical
company.Paul Ramsay, Chairman and President of the Company said,
"We believe this revised corporate strategy will allow us to build
value for all stakeholders over both the near and longer terms. In
the short-term we are fast-tracking to revenue growth. In the
longer term, we believe we have a sustainable enterprise-building
opportunity in a rapidly expanding market."
The full slide deck is available at:
http://www.algaedynamics.com/files/ADC-Company-PPT...
About Algae Dynamics CorpADC is currently engaged in the
development of unique health products and pharmaceuticals that
utilize hemp, cannabis and algae oils. This is an extension of our
plan to commercialize our proprietary BioSilo(R) algae cultivation
system for the high volume, low cost production of pure
contaminant-free algae biomass which is high in Omega-3 fatty
acids. We have engaged two Canadian universities to provide
research into the use of extracts from cannabis oil, which we plan
to use to develop products that combine the significant health
benefits of Omega-3s derived from algae oil and extracts from
cannabis oil. Our research is focusing on the use of cannabis oil
in the context of cancer, and the use of cannabis derivatives for
the development of novel pharmacotherapies for mental health.
NOTE REGARDING FORWARD-LOOKING STATEMENTSThis news release
contains "forward-looking statements" as that term is defined in
Section 27A of the Securities Act and Section 21E of the Securities
Exchange Act of 1934, as amended. Statements in this press release
which are not purely historical are forward-looking statements and
include any statements regarding beliefs, plans, expectations or
intentions regarding the future. Such forward-looking statements
include, among other things, use of proceeds and the development,
costs and results of current or future actions and opportunities in
the sector. Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
new projects and development stage companies, our ability to raise
the additional funding we will need to continue to pursue our
exploration and development program, and our ability to retain
important members of our management team and attract other
qualified personnel. These forward-looking statements are made as
of the date of this news release, and we assume no obligation to
update the forward-looking statements, or to update the reasons why
actual results could differ from those projected in the
forward-looking statements. Although we believe that any beliefs,
plans, expectations and intentions contained in this press release
are reasonable, there can be no assurance that any such beliefs,
plans, expectations or intentions will prove to be accurate.
Investors should consult all of the information set forth herein
and should also refer to the risk factors disclosure outlined in
our annual report on Form 10-K for the most recent fiscal year, our
quarterly reports on Form 10-Q and other periodic reports filed
from time-to-time with the Securities and Exchange Commission.
FOR MORE INFORMATION, PLEASE CONTACT:Paul Ramsay
Phone: 289-997-6740
Email: ramsay@algaedynamics.com
www.algaedynamics.com
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