Auxly Cannabis Group Inc. (TSX.V - XLY)
("
Auxly" or the “
Company”), a
leading consumer packaged goods company in the derivative cannabis
market, is pleased to announce that its wholly owned subsidiary
Dosecann LD Inc. (“
Dosecann”) has entered into an
agreement with Natures Crops International (“
Natures
Crops”), a vertically integrated grower and manufacturer
of plant-based specialty oils, pursuant to which the Company will
purchase the exclusive global rights to Ahiflower® oil for use in
Auxly’s diverse portfolio of cannabis products. This multi-year
deal will provide Auxly with a proprietary ingredient for use in
its current portfolio of cannabis products and the development of
next generation cannabis health products that Auxly will
commercialize when legally permitted.
“Auxly is committed to bringing innovative and
differentiated cannabis products to consumers and this agreement
provides our incredible team of scientists with a vegan, complete
and balanced omega-rich proprietary ingredient with which to
develop exciting products specifically targeted for the wellness
consumer segment,” said Hugo Alves, Chief Executive Officer,
Auxly.
Ahiflower starts as a non-GMO oilseed crop grown
exclusively in the United Kingdom by Natures Crops. After
harvesting the Ahiflower seeds, they are cold pressed to produce a
crude oil that is exported to Canada where it is further refined
into Ahiflower oil at the Natures Crops facility in Kensington,
PEI. Ahiflower is a sustainable and traceable vegan polyunsaturated
omega 3-6-9 oil, providing an ecologically-sound alternative to
fish oils – each acre of Ahiflower produces as much omega-rich oil
as 320,000 anchovies. Ahiflower oil contains more combined omegas
than other natural plant or seed oils and contains a combination of
the elements found in fish, evening primrose, olive, and flax seed
oils. “Consumers seeking the utmost in excellence, freshness and
traceability in Canadian, science-backed cannabis solutions will
find Dosecann’s products compelling,” said Greg Cumberford, VP
Science & Regulatory, Natures Crops.
Bob Chapman, Chief Science Officer at Dosecann,
added: “Ahiflower oil provides a rich spectrum of naturally
occurring omega 3-6-9 fatty acids to complement our cannabinoids,
and we look forward to collaborating with the talented team at
Natures Crops on research and development for novel cannabis-based
solutions to meet consumers’ wellness needs.”
Ahiflower oil is a proprietary, licensed
ingredient. In Canada, Ahiflower oil is a registered natural health
product and non-GMO certified. It has been approved as a novel food
in the European Union and has cleared FDA review status without
objection in the United States.
ON BEHALF OF THE BOARD
"Hugo Alves" CEO
About Natures Crops International
A manufacturer of specialty oils for dietary
supplements, nutraceuticals, food, and personal care products,
Natures Crops produces oils from the highest quality crops,
produced by growers who follow strict management protocols for
sustainability and identity preservation. Natures Crops ensures the
crops produced are grown, processed, packaged, and delivered in a
safe, sustainable, traceable, and cost-competitive manner. The
company has operations in Prince Edward Island, Canada and the
United Kingdom, with headquarters in North Carolina. Natures
Crops is a member of the Council for Responsible Nutrition (CRN).
For more information please write to info@naturescrops.com
About Dosecann LD Inc.
Dosecann, a wholly owned subsidiary of Auxly, is
a Canadian developer and manufacturer of innovative cannabis
products for the wellness-focused consumer. Dosecann is committed
to providing Canadians with quality products designed for everyday
use, backed by science and advanced research. Dosecann’s 52,000
square foot, GMP-compliant facility located in Charlottetown,
Prince Edward Island, houses extraction, research and development,
product formulation, analytical testing and commercial
manufacturing for Auxly’s branded cannabis products. Built on the
pillars of quality, safety and efficacy, Dosecann is cannabis –
down to a science™.
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
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:Email: press@auxly.com
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: Dosecann’s execution of its product development and
commercialization strategy; the proposed use of Ahiflower™ oil in
Dosecann’s current and proposed products; consumer preferences;
political change, future legislative and regulatory developments
involving cannabis, cannabis products and cannabis health products;
the timing and outcomes of regulatory decisions; and competition
and other risks affecting Auxly and Dosecann 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: Dosecann is able to obtain
and maintain the necessary regulatory authorizations to conduct
business, Dosecann is able to obtain and maintain all necessary
governmental and regulatory permits and approvals for the operation
of its facility and the development of its current and proposed
products, and whether such permits and approvals can obtained in a
timely manner, whether future Dosecann products will be accepted by
consumers, the success of Dosecann’s research strategies and the
applicability of the discoveries made therein, and general
economic, financial market, regulatory and political conditions in
which Auxly and Dosecann operate will remain the same. Additional
risk factors are disclosed in the revised annual information form
of Auxly 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 Auxly’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 Auxly. 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, Auxly 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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