Britannia Life Sciences Establishes New Subsidiary to Service the Global Mining Sector
- Britannia Mining Solutions Inc. ("BMS") will deliver assay services to global mining companies
- BMS is being funded separately from Britannia Life Sciences and is backed by a distinguished group of mining investors and advisors including Eric Sprott and Dr. Quinton Henningh
- BMS' focus will be establishing technology-enabled assay labs which will provide faster and more accurate results, and help address the global backlog of mining assays
Toronto, Ontario--(Newsfile Corp. - March 8, 2022) - Britannia Life Sciences Inc. (CSE: BLAB) (FSE: L020) ("Britannia") is pleased to announce the formation of a new subsidiary to service the global mining industry. Britannia Mining Solutions Inc. ("BMS") will operate as a partially owned subsidiary of Britannia with the initial objective of setting up mining assay labs to address the global backlog in mining assays.
In establishing the business, BMS completed a non-brokered private placement for proceeds of $500,000 on March 7, 2022.
BMS is grateful for the distinguished group of investment and mining professionals who participated in the financing and welcomes Eric Sprott as a shareholder, as well as Dr. Quinton Henningh, Director of Crescat Capital, as an advisor to and strategic shareholder in BMS.
"Delays in receiving assay results continue to be a significant bottleneck for mining companies globally, and there are no signs of the situation improving. I look forward to supporting the Britannia team as they begin the roll out of their assay labs," said Dr. Quinton Henningh.
BMS will focus on establishing assay labs that employ a variety of technologically advanced solutions which will provide faster and more accurate results. These increased efficiencies will provide superior and more timely insights to geologists and mining executives, to better inform their ongoing drill programs and mine development plans.
Peter Shippen, CEO of Britannia, stated "Our strategy has been to disrupt the traditional analytical testing and laboratory markets across various industries through the deployment of innovative, cost and time saving technologies. Our objective in establishing BMS is to bring this strategy to the mining industry by displacing legacy processes with technologically advanced solutions."
About Britannia Life Sciences Inc.
Britannia Life Sciences Inc. is a global platform offering an integrated suite of services to assist companies along their product development journey. Britannia's services, including product formulations, safety assessments, analytical and microbiological testing, global compliance, and consumer evaluations are offered to companies ranging from multinationals to startups particularly in the cosmetics, food, and wellness industries. Britannia has garnered significant expertise in the development and regulatory approval of topical and edible cannabis products, including preparation and support for novel food authorizations. Britannia's head office is located at 120 Adelaide Street West, Suite 2400, Toronto, Ontario, M5H 1T1.
For inquiries or more information on Britannia's growing suite of product development, analytical testing, regulatory and compliance solutions across a range of industries, please visit https://britannia.life or contact:
Peter Shippen, CEO
Tel: +1 416 930 7711 or +44 738 744 7441
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/116019