NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
TORONTO–(BUSINESS WIRE)–$HMPS #CBG–Hempsana Holdings Ltd. (the “Company” or “Hempsana”), a leading cannabis extraction company that focuses on the production of high-quality cannabis extracts, today announced its completion of it’s largest commercial run of cannabigerol (“CBG”).
Commercial Scale Operational Update
In early November, Hempsana completed its commercial scale run of CBG at its manufacturing facility in Goderich. The product from this first run was primarily used for customer samples and to provide material as a part of a tolling agreement. Since this initial production run, Hempsana has increased its production by >1,000% and will continue to dedicate a significant portion of its production capacity to CBG as well as other minor cannabinoids.
CBG Production Update
Since launching CBG, Hempsana has received inquiries for CBG, which is a relatively new cannabinoid that is not readily available in the cannabis space. CBG is an exciting, rare cannabinoid with distinctive properties and has been shown to act as an anti-inflammatory, anti-microbial, antioxidant, and neuroprotectant in research studies.
“During the third quarter, our product development team focused on scaling and optimizing our minor cannabinoid production processes. With initial orders for CBG targeted for early December delivery, we are excited for the Canadian consumers as they can look forward to the launch of new unique curated cannabis products fortified with Hempsana’s high-quality CBG cannabinoid extracts by many of the familiar cannabis brands in the market” said Randy Ko, President & CEO of Hempsana.
About Hempsana Holdings Ltd.
The Company’s business involves the manufacturing of major and minor cannabinoid derivatives and producing cannabis extracts for use in finished products, including topical creams, vape pens and other infused consumables. Hempsana’s Health Canada Standard Processing Licensed, and EU-GMP compliant facility provides the Company with access to wholesale and retail channels in Canada and internationally. Hempsana currently offers a wide range of product formats, including topicals, tinctures, salves, vape pens which can all be fortified with major and minor cannabinoids that are all manufactured by Hempsana.
This press release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the business and operations of the Company. The forward-looking statements and information are based on certain key expectations and assumptions made by management, including expectations and assumptions concerning the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information. There can be no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, general economic conditions and the state of the regulatory environment. Please refer to the Company’s public record on SEDAR at www.sedar.com for more details on the risks faced by the Company. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward- looking information for anything other than its intended purpose. Management of the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
For additional information regarding Hempsana:
Director and Chief Executive Officer
T: (647) 255-8849
E: [email protected]