Radient Technologies (TSXV:RTI) announced their response to the proposals placed by the Canadian government regarding the regulation of cannabis, once it becomes fully legal next year.
As quoted in the press release:
Under the Proposals, a “Licensed Processor” class of licenses would be created to permit the extraction, manufacture, and packaging of cannabis derivatives, while mandating “good production practices” around sanitation, analytical testing, and quality assurance. As a GMP-compliant facility, Radient’s Edmonton extraction plant is immediately positioned as a leader in this class.
Furthermore, the proposed structure allows licensed cultivators and licensed sellers as distinctly permitted entities to invest in and focus on their core areas of expertise, while turning to Radient’s high-throughput, high-yield extraction platform for the manufacture and development of derivative products.
Radient also commends the positive developments under the Proposals for the expansion of hemp production and the extraction of CBD from hemp, for which the high-throughput capability of Radient’s platform is a strong fit. With its cornerstone customer and partner, Aurora Cannabis Inc. (TSX:ACB) (“Aurora”), and Aurora’s investment in Hempco Food and Fiber, Radient’s accelerated entry into this valuable market segment is possible.