Auxly Announces Receipt of Cannabis Research Licence to KGK Science
September 05 2019 - 7:30AM
Auxly Cannabis Group Inc. (TSX.V - XLY)
(“
Auxly” or the “
Company”)
today announced that its wholly-owned subsidiary, KGK Science Inc.
(“
KGK”), has been issued a Cannabis Research
Licence by Health Canada under the Cannabis Regulations allowing
KGK to possess and administer cannabis for purposes of a clinical
trial. This licence is one of the first of its kind to be
issued to a contract research organization (“
CRO”)
in Canada.
In its first cannabis-based clinical trial, KGK
will be testing the pharmacokinetics of THC and CBD in healthy
adults. Based on a protocol developed by KGK researchers, the trial
will commence in October 2019 at KGK’s in-house clinic in London,
Ontario, with results being later delivered to the third-party
sponsor who has privately contracted KGK to conduct this trial on
their behalf. With many more cannabis trials in its pipeline, KGK
is well on its way to demonstrating its leadership in research and
regulatory services to support cannabis and cannabis-derived
products.
“This is a much-needed step forward for our
business, our clients, and for the cannabis industry as a whole,”
said Najla Guthrie, President and CEO of KGK. “Support from
government and regulatory bodies is essential for cannabis product
manufacturers to take a responsible, science-driven approach to
substantiating the safety and efficacy of their products through
clinical trials.”
Hugo Alves, CEO of Auxly, commented, “This
licence is an important milestone for KGK, as it is the final
regulatory requirement that must be met before clinical trial work
can begin. As one of the only research licences of its kind to be
issued to a CRO, it further solidifies KGK as a leader in cannabis
research. We’re proud to have KGK as a part of the Auxly family and
look forward to leveraging its research capabilities in developing
Auxly’s innovative cannabis products at our Dosecann facility.”
For nearly two decades, KGK has served many of
North America’s leading nutraceutical, natural health product and
consumer packaged goods companies. KGK works with its clients in
offering well-designed, customized solutions and substantiating
claims for their products through randomized clinical trials.
Equipped with state-of-the-art technologies, novel research
techniques, and a seasoned team of thought leaders, KGK science
remains at the forefront of its industry. For more information,
please visit KGK’s website at: https://www.kgkscience.com/
ON BEHALF OF THE BOARD
“Chuck Rifici” Chairman
About Auxly Cannabis Group Inc. (TSX.V:
XLY) (OTCQX: CBWTF)
Auxly is an international cannabis company
dedicated to bringing innovative, effective, and high-quality
cannabis products to the medical, wellness and adult-use markets.
Auxly’s experienced team of industry first-movers and enterprising
visionaries has secured a diversified supply of raw cannabis,
strong clinical, scientific and operating capabilities and leading
product research and development infrastructure in order to create
trusted products and brands in an expanding global market.
Learn more at www.auxly.com and stay up to date
at Twitter: @AuxlyGroup; Instagram:
@auxlygroup; Facebook: @auxlygroup; LinkedIn:
company/auxlygroup/.
Investor Relations:
For investor enquiries please contact our
Investor Relations Team:Email: IR@auxly.comPhone:
1.833.695.2414
Media Enquiries (only):
For media enquiries or to set up an interview
please contact:Sarah Bain, VP External AffairsEmail:
sarah@auxly.comPhone: 613.230.5869
Notice Regarding Forward-Looking
Information:
This news release contains certain
“forward-looking information” within the meaning of applicable
Canadian securities law. Forward-looking information is frequently
characterized by words such as “plan”, “continue”, “expect”,
“project”, “intend”, “believe”, “anticipate”, “estimate”, “may”,
“will”, “potential”, “proposed” and other similar words, or
information that certain events or conditions “may” or “will”
occur. This information is only a prediction. Various assumptions
were used in drawing the conclusions or making the projections
contained in the forward-looking information throughout this news
release. Forward-looking information includes, but is not limited
to: the anticipated benefits of the Company and KGK’s research and
development initiatives; the timing of the proposed clinical trial;
political change, future legislative and regulatory developments
involving cannabis and cannabis products; and competition and other
risks affecting the Company in particular and the cannabis industry
generally.
A number of factors could cause actual results
to differ materially from a conclusion, forecast or projection
contained in the forward-looking information in this release
including, but not limited to, whether: the Company and/or KGK is
able to maintain the necessary governmental and regulatory
authorizations and permits to conduct business; the success of
KGK’s research strategies; and general economic, financial market,
regulatory and political conditions in which the Company and KGK
operate will remain the same. Additional risk factors are disclosed
in the revised annual information form of the Company for the
financial year ended December 31, 2017 dated May 24, 2018.
New factors emerge from time to time, and it is
not possible for management to predict all of those factors or to
assess in advance the impact of each such factor on the Company’s
business or the extent to which any factor, or combination of
factors, may cause actual results to differ materially from those
contained in any forward-looking information. The forward-looking
information in this release is based on information currently
available and what management believes are reasonable assumptions.
Forward-looking information speaks only to such assumptions as of
the date of this release. In addition, this release may contain
forward-looking information attributed to third party industry
sources, the accuracy of which has not been verified by the
Company. The purpose of forward-looking information is to provide
the reader with a description of management’s expectations, and
such forward-looking information may not be appropriate for any
other purpose. Readers should not place undue reliance on
forward-looking information contained in this release.
The forward-looking information contained in
this release is expressly qualified by the foregoing cautionary
statements and is made as of the date of this release. Except as
may be required by applicable securities laws, the Company does not
undertake any obligation to publicly update or revise any
forward-looking information to reflect events or circumstances
after the date of this release or to reflect the occurrence of
unanticipated events, whether as a result of new information,
future events or results, or otherwise.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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