Ascent Industries (CSE:ASNT) COO Reid Parr was interviewed by Proactive Investors. He provided a status update for the Agrima Labs, Botanicals and Meadows campuses in British Columbia. The Agrima Botanicals facility is currently operating at full capacity and is harvesting crops on a weekly basis, while their Meadows and Lab facilities are currently under review with Health Canada and will be completing phase one construction by the end of 2018. Agrima Labs will be their e-commerce and global distribution centre as they have their dealer’s license which allows them to distribute cannabis throughout Canada and the world.
Parr also provided an update on the status on the company’s holdings in Nevada and Oregon. They have been licensed as producer-processors and distributors in Oregon and Nevada. They are also currently selling over 40 of their products in 130 dispensaries in both states. Additionally, Parr discussed the company’s expansion plans into Denmark. Denmark provides a highly respected healthcare industry, but allows more cannabis derived products than Germany currently does.
“We’re very excited to be expanding into Europe,” said Parr. “We’ve secured a Level 10 GMP pharmaceutical distribution facility. We’re in the application phase for a controlled drug license, a dealers license and medical cannabis pilot program license.”
Ascent has defined itself in part as a research company. They’ve been conducting research for the past five years in house and with Simon Fraser University. The company focuses on five areas of research: genetics, product development, preclinical research, production and manufacturing optimization and market research.
To view the interview, click here.