Canopy Rivers Portfolio Company Receives Research Approval

A Canopy Rivers (TSX:RIV,OTC:CNPOF) portfolio company, BioLumic, has received approval from the New Zealand Ministry of Health to apply its proprietary ultraviolet (UV) light technology to medical cannabis cultivation.

As quoted in the press release:

While BioLumic’s approach has been successful in increasing yields in certain crops, such as strawberries, by up to 60%, this approval marks the first time the company’s UV light technology will be used on cannabis. BioLumic hopes that its research will show increased yields in the cannabis plant and help producers meet the rising demand for medical cannabis and cannabis-derived products.

To bring its cannabis research program to life, BioLumic is partnering with two established cannabis companies. The company will work with Canada-based cannabis cultivator and Canopy Rivers portfolio company James E. Wagner Cultivation Corporation (“JWC”) (TSXV: JWCA, OTCQX: JWCAF), as well as Auckland-based medical cannabis company Helius Therapeutics. With the support of these partnerships, BioLumic plans to begin conducting medical cannabis commercial trials in New Zealand and Canada by June 2020.

Click here to read the full press release.