Emblem Receives Health Canada License to Sell Cannabis Extracts
Toronto, Ontario, November 6, 2017 – Emblem Corp. (“Emblem” or the “Company”) (TSXV:EMC), a vertically integrated health and wellness company focused on research, development, production and distribution of cannabis products for medical and pharmaceutical purposes, is pleased to announced that, effective November 3, 2017, the Company has been granted a license to sell cannabis oils. As announced on December 19, 2016, Emblem was initially granted a supplemental license for the production of cannabis extracts.
“Securing this license is an important milestone of our strategy to provide high quality, differentiated cannabis products, in a variety of formats. Our clients will be able to rely upon a selection of cannabis oils, including those from CBD dominant strains, THC dominant strains and strains with both CBD and THC content. Cannabis oils and related formulations provide a level of consistency and dosage accuracy that cannot be achieved with dried flower, and is a substantially more convenient and precise consumption method,” said John H. Stewart, President of Emblem’s Pharmaceutical Division. “We are very excited with the prospects this license brings, as we continue our clinical R&D initiatives towards unique cannabinoid delivery formulations, which we intend to introduce to the market in the future.”
Emblem anticipates announcing its updated product portfolio later this month, based on the addition of a range of cannabis oils, and commencing sales of its full product line shortly thereafter.
Emblem is licensed under the Access to Cannabis for Medical Purposes Regulations (the “ACMPR”) to cultivate and sell medical cannabis. Emblem carries out its principal activities producing cannabis from its facilities in Paris, Ontario pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations.
For further information contact:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “may”, “will”, “project”, “should” or similar words, including negatives thereof, suggesting future outcomes.
In particular, this news release contains forward-looking statements relating to, among other things: (i) the acquisition of the newly acquired land; (ii) the completion of the proposed facilities by the Company; (iii) the ability of the Company to utilize the new facilities to produce additional dried cannabis; (iv) potential sales of dried cannabis produced at the new facilities and the value thereof; (v) the Company’s future production capacity; (vi) the availability of additional sources of financing; (vii) the ability of the Company to establish a “closed box” indoor production facility; (viii) the ability of the Company to produce high quality dried flower; (ix) the benefits associated with the acquisition of the additional land; (x) the intention to grow the business, operations and potential activities of the Company; (xi) receipt of approval from Health Canada to complete such expansion and increase production and sale capacity; and (xii) the anticipated changes to Canadian federal laws regarding adult use and the business impacts on the Company.
Management of the Company believes the expectations reflected in such forward-looking statements are reasonable as of the date hereof but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Various material factors and assumptions are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Those material factors and assumptions are based on information currently available to the Company, including data from publicly available governmental sources as well as from market research and industry analysis and on assumptions based on data and knowledge of this industry which Emblem believes to be reasonable. However, although generally indicative of relative market positions, market shares and performance characteristics, such data is inherently imprecise. While Emblem is not aware of any misstatement regarding any industry or government data presented herein, the medical marijuana industry involves risks and uncertainties and is subject to change based on various factors.
Forward-looking statements are not a guarantee of future performance and are subject to and involve a number of known and unknown risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risks identified in the Company’s filing statement dated November 30, 2016 and in the Company’s short form prospectus dated March 16, 2017 both of which have been filed with the Canadian Securities Administrators and available on www.sedar.com. Any forward-looking statements are made as of the date hereof and, except as required by law, the Company assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.
This news release contains future-oriented financial information and financial outlook information (collectively, “FOFI”) about Emblem’s prospective results of operations, sales, revenues, funds flow, and components thereof, all of which are subject to the same assumptions, risk factors, limitations, and qualifications as set forth in the above paragraphs. FOFI contained in this news release was made as of the date of this document and was provided for the purpose of providing further information about the Company’s future business operations. The Company disclaims any intention or obligation to update or revise any FOFI contained in this news release, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. Readers are cautioned that the FOFI contained in this news release should not be used for purposes other than for which it is disclosed herein.