NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
Hempsana Holdings Ltd. (the " Company " or " Hempsana ") is pleased to announce the Company has signed a processing agreement with New Leaf Canada Inc. ( "New Leaf" ) to process 2,000kg of hemp to produce full spectrum CBD crude for revenue of up to CAD $200,000.
On July 20, 2021, the Company completed a processing agreement to process hemp biomass and manufacture full spectrum CBD. The agreement was further to a Memorandum of Understanding that was executed on May 18 2021, and provides specifics pertaining to processing, post-processing and production, performed at the Company's state-of-the-art processing facility located in Goderich Ontario, which was engineered and built as an EU-GMP compliant facility in 2020.
"Driven by the wide breadth and deep relationships that key people at our Company have in the cannabis sector, the hard work put in by the sales and operations teams are being realized on these successful deal executions. We are excited about the growth prospects of the Company as we continue to monetize our opportunities and maximize value for our shareholders", said Randy Ko, Chief Executive Officer of the Company.
"This is the beginning of a great relationship among two world-class cannabis companies. The high-quality production that our companies are manufacturing are aimed at being the gold-standard in the industry, and we look forward to growing the relationship with Hempsana," said Chris McCullough, CEO of New Leaf.
About New Leaf Canada Inc.
New Leaf Canada Inc. is licensed under Health Canada for both Hemp and Cannabis cultivation. New Leaf's agricultural Hemp program is leading the industry having acquired GACP quality certification in 2021 making it one of the few providers of high quality Hemp with an external accreditation suitable for manufacturing nutraceutical and pharmaceutical products.
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.
Director and Chief Executive Officer
T: (647) 255-8849