Collaboration aims to produce higher
crop yields and quality using less energy than traditional LED
lighting
TEL-AVIV, Israel and
TORONTO, Sept. 14, 2017 /CNW/ - Flora Fotonica Ltd.
("Flora Fotonica"), a developer of advanced grow light technologies
for the Cannabis industry and MedReleaf Corp. (TSX: LEAF)
("MedReleaf" or the "Company"), Canada's first and only ISO 9001 and ICH-GMP
certified cannabis producer, are pleased to announce the signing of
a binding agreement to invest and collaborate on the research and
development of specialized grow lighting systems for cannabis
cultivation. Flora Fotonica will provide MedReleaf with exclusive
access to its proprietary LED lighting technology and MedReleaf
will dedicate licensed growing space, laboratories, and research
personnel. Financial terms of the agreement are not disclosed.
"We have a deep connection to the world leading Israeli medical
cannabis industry and a successful track record bringing their
research and innovations to market on an industrial scale," said
Neil Closner, CEO of MedReleaf. "Our
ability to iterate quickly and drive ongoing process improvements
are a source of competitive advantage that allows us to increase
capacity and lower production costs throughout our cultivation
activities. In working with Flora Fotonica, we will continue to
advance the global standard MedReleaf has set when it comes to
product quality, yield, and crop optimization in the cannabis
industry."
Flora Fotonica has developed a proprietary lighting technology
that is expected to enable significant increases to crops yield and
active cannabinoids such as THC and CBD while substantially
reducing energy consumption versus other LED lighting systems used
in the industry today.
Flora Fotonica's Co-Founder & CEO, Menachem Schwartz added: "MedReleaf is one of
the global leaders in certified cannabis production and Flora
Fotonica is a unique innovator in the indoor farming lighting
systems arena. We believe the collaboration between our two
companies will result in groundbreaking results in the cannabis
market, both in terms of pricing as well as product quality."
About Flora Fotonica Ltd.
An Israeli company established by technology and science
veterans, Menachem Schwartz (CEO)
and Gennadi Berinsky (CTO) in order
to bring innovation and long-term solutions to "Better than Sun"
lighting for indoor farming. The Company has developed proprietary
technology producing significantly better results in crop yields
and quality than conventional HPS and LED lighting with
significantly reduced energy consumption.
About MedReleaf Corp.
MedReleaf sets The Medical Grade Standardâ„¢ for cannabis in
Canada and around the world.
The first and only ICH-GMP and ISO 9001 certified cannabis producer
in North America, MedReleaf is a
R&D-driven company dedicated to patient care, scientific
innovation, research and advancing the understanding of the
therapeutic benefits of cannabis. Sourced from around the
world and perfected in one of two state of the art facilities in
Ontario, MedReleaf delivers a
variety of premium products to patients seeking safe, consistent
and effective medical cannabis.
For more information on MedReleaf, its products, research and
how the Company is helping patients #livefree, please visit
MedReleaf.com or follow @medreleaf.
Forward Looking Statements
This press release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation which are
based upon MedReleaf's current internal expectations, estimates,
projections, assumptions and beliefs and views of future events.
Forward-looking information can be identified by the use of
forward-looking terminology such as "expect", "likely", "may",
"will", "should", "intend", "anticipate", "potential", "proposed",
"estimate" and other similar words, including negative and
grammatical variations thereof, or statements that certain events
or conditions "may", "would" or "will" happen, or by discussions of
strategy. Forward-looking information include estimates, plans,
expectations, opinions, forecasts, projections, targets, guidance
or other statements that are not statements of fact.
Any forward-looking information speaks only as of the date on
which it is made, and, except as required by law, MedReleaf does
not undertake any obligation to update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise. New factors emerge from
time to time, and it is not possible for MedReleaf to predict all
such factors. When considering these forward-looking statements,
readers should keep in mind the risk factors and other cautionary
statements in MedReleaf's Final Long Form Prospectus dated
May 30, 2017 and filed with the
applicable Canadian securities regulatory authorities on SEDAR at
www.sedar.com. The risk factors and other factors noted in
MedReleaf's Final Long Form Prospectus could cause actual events or
results to differ materially from those described in any
forward-looking information.
SOURCE MedReleaf Corp.