Sugarbud enters into Strategic Plant Genotyping and Tissue Culture Agreement with Segra
December 05 2019 - 4:00PM
Sugarbud Craft Growers Corp. (TSXV: SUGR, SUGR.WT, SUGR.RT)
("
Sugarbud") is pleased to announce that it has
entered into a strategic plant genotyping and tissue culture
agreement with Segra Biogenesis Corp., a wholly owned subsidiary of
Segra International Corp. ("
Segra").
Under the terms of the agreement, which include
royalties tied to production success, Segra will provide Sugarbud
with exclusive and proprietary cannabis cultivars as well as tissue
culture technology and services for the preservation, regeneration,
and production of key cultivars already held by Sugarbud.
Plant tissue culture, also known as plant micropropagation, is an
advanced scientific technique utilized in many commercial
agricultural applications to mass-produce plants with desirable
traits. Using micropropagation, large volumes of sterile, healthy,
disease-free, and genetically identical plantlets can be rapidly
produced. Plant tissue culture eliminates systemic diseases in
starting materials that can negatively impact yields and chemotype
expression, while at the same time dramatically reducing the space
required to maintain viable stock plants and produce healthy and
uniform plants year-round.
"The genetic diversity, reliability and
integrity of our cultivars is one of the cornerstones of our
high-quality premium cannabis value proposition and our product
leadership strategy," stated Sugarbud CEO, John Kondrosky. "We
believe that a reliable customer experience from batch-to-batch is
an essential part of maintaining consumer confidence and trust in
our brand."
"Sugarbud is committed to quality and we are
very excited to be partnering with Segra to ensure the quality and
integrity of our cultivars. The benefits of tissue culture for the
cannabis industry and consumers alike are significant and we look
forward to collaborating closely with Segra to ensure that our
customers experience only high-quality premium cannabis," continued
Mr. Kondrosky.
"The words premium and quality are thrown around
often in this industry, however Sugarbud's early adoption of tissue
culture proves they are taking the necessary steps to ensure
quality at the highest level," stated Segra CEO, Todd McMurray. "It
is this level of dedication and commitment to quality that builds
lasting brands."
About Sugarbud
Sugarbud is a federally licensed Alberta-based
publicly traded cannabis company focused on the cultivation and
production of high-quality premium cannabis, and product leadership
through the development, production and distribution of value-added
cannabis products in Canada.
http://www.sugarbud.ca/
About Segra
Segra is an agriculture technology company
offering innovative services that accelerate the advancement of the
cannabis industry to better serve society. The company’s plant
tissue culture and genomics technologies, coupled with a vast
business ecosystem, empower its clients to drive financial
performance and mitigate risk, while exploring the next frontiers
of optimized cultivation practices for the rapidly evolving
medical, recreational, and hemp markets. Segra is developing
industrial-scale facilities to produce disease-free, robust, and
DNA fingerprinted cannabis plantlets for licensed producers
globally. To support this vision, Segra has assembled a world-class
team of specialists in the fields of agronomy, molecular genetics,
plant tissue culture, and regulatory compliance. Segra currently
has agreements with many leading global cannabis producers,
including the Canadian licensed producers HEXO Corp., Agripharm
Corp., and The Supreme Cannabis Company Inc.
https://www.segra-intl.com/
John Kondrosky Chief Executive
Officer Sugarbud Craft Growers Corp. Phone: (604) 499-7847
E-mail: johnk@sugarbud.ca
Investor Relations Contact Gary Perkins,
President Tekkfund Capital Corp. Tel: (416) 882-0020
E-mail: garyperkins@rogers.com
Website:
http://www.sugarbud.ca/
Address: Suite 620, 634 - 6th Avenue S.W.,
Calgary, Alberta T2P 0S4
Forward Looking and Cautionary
Statements
This news release contains forward-looking
statements. More particularly, and without limitation, this news
release contains statements concerning: Sugarbud's assessment of
future plans, operations and cannabis cultivation, preservation and
regeneration; product quality; and the genotyping and tissue
culture agreement with Segra, including the benefits thereof. When
used in this document, the words "will," "anticipate," "believe,"
"estimate," "expect," "intent," "may," "project," "should," and
similar expressions are intended to be among the statements that
identify forward-looking statements. The forward-looking statements
are founded on the basis of expectations and assumptions made by
Sugarbud. Forward-looking statements are subject to a wide range of
risks and uncertainties, and although Sugarbud believes that the
expectations represented by such forward-looking statements are
reasonable, there can be no assurance that such expectations will
be realized. Any number of important factors could cause actual
results to differ materially from those in the forward-looking
statements including, but not limited to: failure of
counter-parties to perform contractual obligations; failure to
benefit from partnerships; ; changes in prices and costs of inputs;
demand for products; the ability to implement corporate strategies;
the state of domestic capital markets; the ability to obtain
financing; changes in general market conditions; industry
conditions and events; the size of the medical marijuana market and
the recreational marijuana market; government regulations,
including future legislative and regulatory developments involving
medical and recreational marijuana; construction delays; risks
inherent in the agricultural business, such as insects, plant
diseases and similar agricultural risks which can have a
significant impact on the size and quality of the harvest of
cannabis crops; competition from other industry participants; and
other factors more fully described from time to time in the reports
and filings made by Sugarbud with securities regulatory
authorities. Please refer to Sugarbud's most recent annual
information form and management's discussion and analysis for
additional risk factors relating to Sugarbud, which can be accessed
under Sugarbud's profile on www.sedar.com.
Except as required by applicable laws, Sugarbud does not
undertake any obligation to publicly update or revise any
forward-looking statements.
Neither the TSXV nor its regulation services provider
(as that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
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