Auxly Cannabis Group (TSXV:XLY) issued an update to shareholders on the product strategy for its subsidiary Dosecann.
As quoted in the press release:
Dosecann, Auxly’s cornerstone midstream asset that is Canada’s largest cannabis specific “Licensed Dealer”, is positioned to play a significant role as a leading research, product development, extraction, formulation and consumer packaged goods manufacturing center in the Canadian cannabis industry with its 42,000 square foot purpose-built facility in Charlottetown, P.E.I.
As previously announced, Dosecann has successfully obtained a Dealer’s Licence for Controlled Drugs and Substances (the “Licence”) from Health Canada and has commenced operations related to the creation of value-added cannabis products, as permitted by the Licence and applicable laws. Dosecann has further subdivided its cannabis activities into two segments, Medical Products and Consumer Packaged Goods.
The Medical Products segment, led by Dr. Christina Woollard and Dr. Bob Chapman, is focused primarily on research and development of new value-added cannabis products for sale to domestic and global medical cannabis and wellness markets. Part of this segment’s activities will include observational studies and clinical trials to validate the efficacy of new cannabis formulations and intellectual property. It should be noted that, while current regulations do not allow for the creation of Natural Health Products containing cannabis, the Medical Products segment of Dosecann’s business will also focus on addressing market demand for wellness products containing cannabinoids through the research and development of such products within the parameters of applicable legislation.