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TORONTO–(BUSINESS WIRE)–$HMPS #cannabis–Hempsana Holdings Ltd. (the “Company” or “Hempsana”) is excited to announce that the Company has signed a white labelling agreement with Lune Rise Farms Inc. for extraction services and turn key solution to manufacture finished consumer products.
On August 11, 2021, the Company signed an extraction and sales agreement with Lune Rise Farms, further to the announcement on July 19 2021(Click Here for the full press release). The agreement includes the full spectrum extraction of cannabinoid oil from four high quality craft strains that bring out unique terpene and cannabinoid profiles coveted by many consumers. The sun-grown cannabis biomass will be extracted to preserve the exceptional terpene profile, aimed at producing higher revenues for the companies.
Under the terms of the agreement, the cannabinoid oil will be used for numerous finished products, including the manufacture of a premium vape product which includes four SKUs for sales into the consumer market. The products discussed will be manufactured and packaged for resale as a premium THC and a balanced THC and CBD retail product branded by Lune Rise Farms.
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“We wanted to ensure that our high-quality cannabis was processed utilizing high standards to maintain the exceptional quality. Based on our initial work with Hempsana, we are confident that they will continue to exceed our expectations on consistent quality through their strict controls and procedures, and we’re excited to provide consumers with one of the best premium products on the market.”, said Marty Johnston, CEO of Lune Rise Farms Inc.
“By focussing on our core competencies in high-quality extraction and white label manufacturing of consumer goods, Hempsana continues to build confidence with our clients and secure agreements. This being our first turn-key white labelling agreement is a strong signal of our strengths in delivering best-in-class products and demonstrates our ability to diversify and solidify the Company’s revenue into the cannabis white labelling space.”, said David Chan, Hempsana’s Chief Financial Officer.
About Lune Rise Farms Ltd.
Lune Rise Farms Inc. is a Health Canada Licensed cannabis cultivator located in Teeswater, Ontario. The company has 70 acres of cultivation land, on which six strains have been diligently crafted to produce high-quality organic cannabis.
About Hempsana Holdings Ltd.
The Company’s business involves the manufacturing of cannabis derivatives and producing cannabis extracts for use in finished products, including vapeables, topical creams and 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.
The securities set forth herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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.
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