BioHarvest Sciences Inc. Plans to Build a Production Facility in Ontario to Serve the Canadian Market with Unique Cannabis Products
The Company is now producing Cannabis in industrial scale bioreactors and has entered the final stage of its Cannabis commercialization program
Vancouver, British Columbia, and Rehovot, Israel--(Newsfile Corp. - January 20, 2022) - BioHarvest Sciences Inc. (CSE: BHSC) ("BioHarvest" or the "Company") has announced its plan to build a production facility in Canada, as part of the next phase in the global expansion of its Cannabis vertical. To that end, the Company is exploring opportunities to acquire an existing licensed facility or a Licensed Producer (LP), which would enable the Company to use its BioFarming technology to produce and then sell unique cannabis products into the Canadian market.
The Company is pleased to announce that it has also moved its production of full-spectrum Cannabis biomass to industrial scale bioreactors, which is a critical final step in ensuring adequate production levels for commercialization. This full spectrum, pesticide free, non-genetically modified biomass is based on the Company's proprietary BioFarming technology that produces Cannabis without growing the plant itself.
Following the news release on December 8, 2021, where the Company announced that it was the first to produce a significant amount of full spectrum, non GMO Cannabis biomass without growing the Cannabis plant itself, the Company has moved swiftly towards the final stage of the development program by now growing the Trichome cells in industrial scale bioreactors. The Trichome cells contain Cannabinoids such as CBD, THC, as well as other compounds that grow naturally in the Cannabis plant. This stage successfully tested the resilience of BioHarvest's proprietary "amalgamated Trichome cells" against the shear forces generated by the large bioreactor's liquid media motion. These amalgamated Trichomes have a coral shaped structure and have a density of up to 200 times greater than the conventional agriculture case. To view the first video footage of our Cannabis biomass, visit www.bioharvest.com/investors.
Ilan Sobel, CEO of BioHarvest, said, "Our BioFarming technology not only enables the production of full-spectrum Cannabis without growing the plant but also creates unique new patentable and consistent compositions that will have corresponding human utility value. I am excited about the opportunity to bring such unique Cannabis solutions to the Canadian market by building a local production facility in Canada. To that end, we have started the engagement for finding an adequate facility and/or acquiring an existing LP who has the appropriate licenses."
BioHarvest is asking those LP's who are interested in a collaborative agreement regarding this announcement to send requests to email@example.com.
All interested media and investors are invited to attend an 'Introduction to BioHarvest' webinar on January 26, at 11 am PST. The event will include a live Question and Answer session. Please register here: https://app.livestorm.co/st-financial/introduction-to-bioharvest?type=detailed
About BioHarvest Sciences Inc.
BioHarvest Sciences Inc. (CSE: BHSC) is a fast-growing Biotech firm listed on the Canadian Securities Exchange. BioHarvest has developed a patented bio-cell growth platform technology capable of growing the active and beneficial ingredients in fruit and plants, at industrial scale, without the need to grow the plant itself. This technology is economical, ensures consistency, and avoids the negative environmental impacts associated with traditional agriculture. BioHarvest is currently focused on nutraceuticals and the medicinal cannabis markets. Visit: www.bioharvest.com.
BioHarvest Sciences Inc.
Ilan Sobel, Chief Executive Officer
For further information, please contact:
Dave Ryan, VP Investor Relations & Director
Phone: 1 (604) 622-1186
Information set forth in this news release might include forward-looking statements that are based on management's current estimates, beliefs, intentions, and expectations, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. There is no assurance that we will achieve our objective of making our products available in multiple markets including bio-space and exposing our technology to different verticals. There is no assurance that the ability to produce a commercial sized biomass will result in the Company entering into commercial production of Cannabis. Clinical trials are subject to risks of significant cost overruns and lengthy delays with no assurance they will confirm desired results. Even where desired results are obtained government approvals for treatments take considerable time and cannot be guaranteed. There is no assurance that we will achieve our objective of being a leading supplier of Cannabis. Delays and cost overruns may result in delays achieving our objectives obtaining market acceptance and regulatory approvals for geographic expansion is subject to risk and cannot be guaranteed. Projected sales of Cannabis will require the company to obtain production and / or export licensing which cannot be assured. There is no assurance that the Company will be successful in acquiring a licensed facility in Canada. Health Canada approvals are required for transfers of production licenses which may take considerable time and cannot be assured. There is also no assurance that Health Canada will accept the Company's unique bioreactor production method. Production requirements in Canada are strict and require adherence to many requirements regarding safety, security and production methods and standards. Although the company is confident that its production methods will meet or exceed all standards there can be no assurance that Heath Canada will accept the Company data within a reasonable time or at all.
All forward-looking statements are inherently uncertain, and actual results may be affected by a number of material factors beyond our control. Readers should not place undue reliance on forward-looking statements. BHSC does not intend to update forward-looking statement disclosures other than through our regular management discussion and analysis disclosures.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/110952