Emblem Receives Health Canada License to Sell Cannabis Extracts
November 06 2017 - 8:00AM
NOT FOR DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES.
Emblem Corp. (
“Emblem” or the
“
Company”) (TSX-V:EMC), a vertically integrated
health and wellness company focused on research, development,
production and distribution of cannabis products for medical and
pharmaceutical purposes, is pleased to announced that, effective
November 3, 2017, the Company has been granted a license to sell
cannabis oils. As announced on December 19, 2016, Emblem was
initially granted a supplemental license for the production of
cannabis extracts.
“Securing this license is an important milestone of our strategy
to provide high quality, differentiated cannabis products, in a
variety of formats. Our clients will be able to rely upon a
selection of cannabis oils, including those from CBD dominant
strains, THC dominant strains and strains with both CBD and THC
content. Cannabis oils and related formulations provide a level of
consistency and dosage accuracy that cannot be achieved with dried
flower, and is a substantially more convenient and precise
consumption method,” said John H. Stewart, President of Emblem’s
Pharmaceutical Division. “We are very excited with the prospects
this license brings, as we continue our clinical R&D
initiatives towards unique cannabinoid delivery formulations, which
we intend to introduce to the market in the future.”
Emblem anticipates announcing its updated product portfolio
later this month, based on the addition of a range of cannabis
oils, and commencing sales of its full product line shortly
thereafter.
About Emblem
Emblem is licensed under the Access to Cannabis for
Medical Purposes Regulations (the “ACMPR”) to cultivate and sell
medical cannabis. Emblem carries out its principal activities
producing cannabis from its facilities in Paris, Ontario pursuant
to the provisions of the ACMPR and the Controlled Drugs and
Substances Act (Canada) and its regulations.
For further information
contact:Ali MahdaviEmblem Corp.(416)
962-3300alimahdavi@emblemcorp.com 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.
This news release contains certain
forward-looking statements and forward-looking information
(collectively referred to herein as "forward-looking statements")
within the meaning of applicable Canadian securities laws. All
statements other than statements of present or historical fact are
forward-looking statements. Forward-looking statements are often,
but not always, identified by the use of words such as
"anticipate", "achieve", "could", "believe", "plan", "intend",
"objective", "continuous", "ongoing", "estimate", "outlook",
"expect", "may", "will", "project", "should" or similar words,
including negatives thereof, suggesting future outcomes.
In particular, this news release contains
forward-looking statements relating to, among other things: (i) the
acquisition of the newly acquired land; (ii) the completion of the
proposed facilities by the Company; (iii) the ability of the
Company to utilize the new facilities to produce additional dried
cannabis; (iv) potential sales of dried cannabis produced at the
new facilities and the value thereof; (v) the Company's future
production capacity; (vi) the availability of additional sources of
financing; (vii) the ability of the Company to establish a "closed
box" indoor production facility; (viii) the ability of the
Company to produce high quality dried flower; (ix) the benefits
associated with the acquisition of the additional land; (x) the
intention to grow the business, operations and potential activities
of the Company; (xi) receipt of approval from Health Canada to
complete such expansion and increase production and sale capacity;
and (xii) the anticipated changes to Canadian federal laws
regarding adult use and the business impacts on the Company.
Management of the Company believes the
expectations reflected in such forward-looking statements are
reasonable as of the date hereof but no assurance can be given that
these expectations will prove to be correct and such
forward-looking statements should not be unduly relied upon.
Various material factors and assumptions are typically applied in
drawing conclusions or making the forecasts or projections set out
in forward-looking statements. Those material factors and
assumptions are based on information currently available to the
Company, including data from publicly available governmental
sources as well as from market research and industry analysis and
on assumptions based on data and knowledge of this industry which
Emblem believes to be reasonable. However, although generally
indicative of relative market positions, market shares and
performance characteristics, such data is inherently imprecise.
While Emblem is not aware of any misstatement regarding any
industry or government data presented herein, the medical marijuana
industry involves risks and uncertainties and is subject to change
based on various factors.
Forward-looking statements are not a guarantee
of future performance and are subject to and involve a number of
known and unknown risks and uncertainties, many of which are beyond
the control of the Company, which may cause the Company's actual
performance and results to differ materially from any projections
of future performance or results expressed or implied by such
forward-looking statements. These risks and uncertainties include,
but are not limited to, the risks identified in the Company's
filing statement dated November 30, 2016 and in the Company's short
form prospectus dated March 16, 2017 both of which have been filed
with the Canadian Securities Administrators and available on
www.sedar.com. Any forward-looking statements are made as of the
date hereof and, except as required by law, the Company assumes no
obligation to publicly update or revise such statements to reflect
new information, subsequent or otherwise.
This news release contains future-oriented
financial information and financial outlook information
(collectively, "FOFI") about Emblem's prospective results of
operations, sales, revenues, funds flow, and components
thereof, all of which are subject to the same assumptions, risk
factors, limitations, and qualifications as set forth in the above
paragraphs. FOFI contained in this news release was made as of the
date of this document and was provided for the purpose of providing
further information about the Company's future business operations.
The Company disclaims any intention or obligation to update or
revise any FOFI contained in this news release, whether as a result
of new information, future events or otherwise, unless required
pursuant to applicable law. Readers are cautioned that the FOFI
contained in this news release should not be used for purposes
other than for which it is disclosed herein.
Emblem Corp (TSXV:EMC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Emblem Corp (TSXV:EMC)
Historical Stock Chart
From Apr 2023 to Apr 2024