Revive Therapeutics Announces Cannabis Product Derivative Manufacturing and Development Facility
June 20 2019 - 7:00AM
Revive Therapeutics Ltd. ("
Revive" or the
"
Company") (TSX VENTURE: RVV) (OTCQB: RVVTF), a
specialty cannabis company focused on the research, development,
and commercialization of novel cannabinoid-based products, is
pleased to announce that the Company is to establish a cannabis
product derivative manufacturing and development facility and it
has entered into a definitive lease and purchase option agreement
to a 12,000 sq. ft. facility in Mississauga, Ontario (the
“Mississauga Facility”) with an option to acquire 100% interest in
the Mississauga Facility, as well as the option to expand into a
50,000 sq. ft. facility, at the Company’s discretion, in
Bowmanville, Ontario (the “Bowmanville Facility”).
“We are excited about
entering in our next stage of our growth plan as our expansion into
our dedicated facility not only allows Revive to establish its
position as a cannabis derivative manufacturing and product
development company that focuses on high quality cannabis products
and contract manufacturing services to third parties, but also
allows Revive to leverage and expand on its cannabis-based patent
portfolio in creating unique products for recreational and
medicinal markets as the cannabis industry evolves,” said Craig
Leon, Chief Executive Officer of Revive.
Highlights of Revive’s Cannabis Derivative Product
Manufacturing and Development Facility:
- Focus on Derivative
Products – Once complete and licensed, the Mississauga
Facility will be capable of producing in-house and white-labelled,
value-added derivative products, as permitted by Health Canada.
These products include currently legal cannabis oils, sprays,
and gel capsules; as well as vape cartridges, edibles, topicals and
other products that would be permitted under future October 2019
legislation.
- Future Expansion –
The Mississauga Facility is approximately 12,000 square feet, which
will allow for R&D, extraction, processing, manufacturing,
packaging, and order fulfillment. Future growth will be
accommodated by expanding into the Bowmanville Facility, allowing
for up to 50,000 square feet of operations. This expansion
would allow for a bifurcation of extraction and manufacturing
capabilities, allowing increased scale within both
segments.
- Focus on Product
Development and White labelling – The Mississauga Facility
will allow for Revive to focus on developing proprietary cannabis
products that will leverage the Company’s intellectual property.
This unique product offering will provide increased
competitive advantage for both in-house and white-labelled product
sales. The Mississauga Facility will additionally offer all
other available services for white-label to other Licensed
Producers, as well as non-cannabis companies interested in entering
the market.
About Revive Therapeutics Ltd.
Revive Therapeutics Ltd. (TSX VENTURE: RVV)
(OTCQB: RVVTF) (FSE: 31R) is a specialty cannabis company focused
on the research, development and commercialization of novel
cannabinoid-based products. Revive is commercializing
patent-protected, best-in-class cannabis-based products with first
mover advantage in the multi-billion medical, health and wellness
cannabis market. The Company’s novel cannabinoid delivery
technology is being advanced to fill the unmet medical needs for
diseases and disorders such as pain, inflammation, and wound
care. Revive’s cannabinoid pharmaceutical portfolio focuses
on rare inflammatory and liver diseases, which the FDA granted to
the Company orphan drug designation for CBD in the treatment of
autoimmune hepatitis and in the prevention of ischemia and
reperfusion injury resulting from solid organ transplantation, such
as liver, kidney, heart and lung transplantation. For more
information, visit www.ReviveThera.com.
For more information please contact:
Craig Leon – Chief Executive OfficerRevive Therapeutics Ltd.Tel:
(416) 272-5525Email: craig@revivethera.comWebsite:
www.revivethera.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS
Neither the TSX-V nor its Regulation Services
Provider (as that term is defined in the policies of the TSX-V)
accepts responsibility for the adequacy or accuracy of this
release.
This news release includes certain information
and statements about management's view of future events,
expectations, plans and prospects that constitute "forward looking
statements", which are not comprised of historical facts.
Forward-looking statements may be identified by such terms as
"believes", "anticipates", "intends", "expects", "estimates",
"may", "could", "would", "will", or "plan", and similar
expressions. Specifically, forward looking statements in this
news release include, without limitation, statements regarding:
successful developments of Revive’s products and receipt of
requisite approvals and permit in relation to any of Revive’s
products currently in development; the Company's product and drug
research and development plans; the timing of operations; and
estimates of market conditions. These statements involve
known and unknown risks, uncertainties, and other factors that may
cause actual results or events, performance, or achievements of
Revive to differ materially from those anticipated or implied in
such forward-looking statements. The Company believes that
the expectations reflected in these forward-looking statements are
reasonable, but there can be no assurance that actual results will
meet management's expectations. In formulating the
forward-looking statements contained herein, management has assumed
that business and economic conditions affecting Revive will
continue substantially in the ordinary course and will be
favourable to Revive, that Revive will be able to obtain all
requisite regulatory approvals to commercialize its products, that
such approvals will be received on a timely basis. Although
these assumptions were considered reasonable by management at the
time of preparation, they may prove to be incorrect. Factors
that may cause actual results to differ materially from those
anticipated by these forward looking statements include:
uncertainties associated with obtaining regulatory approvals; the
need to establish additional corporate collaborations, distribution
or licensing arrangements; the Company's ability to raise
additional capital if and when necessary; intellectual property
disputes; increased competition from pharmaceutical and
cannabis-centered companies; changes in equity markets, inflation,
and changes in exchange rates; and other factors as described in
detail in the Company’s Management's Discussion & Analysis for
the year ended June 30, 2018, the Company’s Annual Information Form
for the year ended June 30, 2018, and continuous disclosure
filings, all of which may be viewed on SEDAR (www.sedar.com).
Given these risks and uncertainties, readers are cautioned not to
place undue reliance on such forward-looking statements and
information, which are qualified in their entirety by this
cautionary statement. Except as required by law, Revive
disclaims any intention and assumes no obligation to update or
revise any forward-looking statements to reflect actual results,
whether as a result of new information, future events, changes in
assumptions, changes in factors affecting such forward-looking
statements or otherwise.
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