CannaRoyalty has signed a letter of intent to acquire a 20% equity interest in Anandia Laboratories. Anandia Labs is a cannabis biotechnology company with a focus on providing analytical testing services and developing cannabis strains for safe and effective medical applications.
Anandia Labs has completed extensive research into cannabis genetics and has built a significant intellectual property position that includes cannabinoid pathway patents. The company uses genomics and modern plant breeding approaches to develop innovative, new products and next generation cannabis varieties.
Anandia Labs has also been issued a Health Canada Dealers License pursuant to the provisions of the Controlled Drugs and Substances Act and the Narcotic Control Regulations. The Dealers License permits Anandia Labs to analyze and extract cannabis, and cultivate cannabis for breeding and strain improvement. This licensing gives Anandia Labs the ability to undertake research and development, and develop products beyond those currently permitted for Licensed Producers under Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR).
Dr. Jonathan Page, Co-Founder, President and CEO of Anandia Labs, stated, “We have elected to partner with CannaRoyalty given their expertise in extraction, post-processing and the development of proprietary formulations. The recent Task Force report described analytical testing as the ‘cornerstone’ for ensuring safe and effective products in the future cannabis market. Building on our analytical chemistry expertise, our objective is to leverage our Dealers License to build a national, best-in-class cannabis extraction and processing facility.”
Marc Lustig, CEO of CannaRoyalty, commented, “Our partnership with Anandia Labs exemplifies our approach of acquiring interests in high-value, strategic assets in the North American cannabis sector. As the only independent Canadian testing facility specializing exclusively in cannabis, Anandia Labs is clearly well positioned given how crucial independent testing of cannabis products is to the future of the cannabis sector in Canada. In addition, the value that we expect to help create through Anandia Labs’ Dealers License for the extraction of derivatives – together with Anandia’s impressive patent portfolio of genetics – gives CannaRoyalty shareholders exciting exposure to rapid and sustainable growth areas in Canada’s dynamic cannabis sector.”
For more information:
CannaRoyalty
333 Preston Street, Suite 610, Ottawa, ON, K1S 5N4
1-844-556-5070
613 680 5070
[email protected]
www.cannaroyalty.com
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