Embark Delta Inc. Enters Into New Supply Agreement with AgMedica Bioscience for 2.0 Products for the Canadian Adult-Use Market
Toronto, Ontario--(Newsfile Corp. - November 25, 2020) - Embark Delta Inc., a wholly owned subsidiary of Embark Health Inc. ("Embark" or the "Company") today announced that they have entered into an agreement with AgMedica Bioscience Inc. ("AgMedica"), whereby Embark will supply 2.0 Solventless Products to AgMedica to sell into the Canadian adult-use market.
"We are thrilled to work with AgMedica to bring high quality Traditional Pressed and Dry-Sift Hash Products to the adult-use market across Canada," said Dr. Luc C. Duchesne, Embark's CEO. "We are pleased to announce this agreement which underscores the growing demand for our specialized skills in solventless production and our ability to convert our opportunity pipeline into tangible, revenue-generating business."
"As we seek to strengthen our national recreational sales platform, establishing a diversified 2.0 product supply represents a key milestone in our overall growth," said Dr. Trevor Henry, AgMedica's CEO. "For this reason, we are excited to collaborate with Embark Health to leverage their superior 2.0 knowledge and expertise to deliver best in class products across the Canadian adult-use market."
About AgMedica Bioscience
As a licensed producer of medicinal and recreational cannabis, AgMedica is dedicated to becoming a global leader in the development and commercialization of cannabis and cannabis-derived products to support the health and wellness of our clients across all channels. We aspire to drive the evolution of the cannabis industry by focusing investment on the development and commercialization of differentiated products in the medicinal, health & wellness and pharmaceutical sectors as well as providing the highest possible quality to recreational channels. For further information, please visit our website at www.agmedica.ca.
Embark Health Inc. is an emerging leader in cannabis extraction, with a focus on the formulation and production of advanced 2.0 products for the B2B and Adult-use markets. Embark continues to be at the forefront of production of solventless concentrate products, including Bubble Hash, Traditional Pressed Hash, Rosin and Dry Sift. With the recent acquisition of EmbarkNano ("Nano", formerly, Axiomm Technologies Ltd.), Embark is preparing to launch the next generation of Cannabis 2.0 products. The acquired portfolio of products and formulations support the mass production and distribution of advanced 2.0 products, including cannabis-infused beverages, topicals, edibles and water-soluble powders. For more information, please visit www.embarknano.com.
It is Embark's mandate to pursue best in class production processes resulting in premium quality commercial and consumer extraction products. Embark Health Inc. is dedicated to unleashing the full potential of the cannabis plant through scientific approaches to extraction and the production of quality products to enhance everyday life. For more information, please visit www.embarkhealthinc.com.
Investor Relations Contact:
Embark Health Inc.
Chief Financial Officer
P: +1 519-671-6936
AgMedica Bioscience Inc.
Senior Director, Marketing
P: 1-844-247-4633 X 116
This news release contains "forward-looking information" within the meaning of applicable securities laws including statements regarding the the ability of Embark and AgMedica to successfully sell solventless products into the Canadian adult use-market, the growing demand for Embark's solventless product portfolio and the conversion of commercial opportunities into tangible revenue-generating business. Although Embark believes in light of the estimates by management, current conditions and expected future developments and other factors, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them. Accordingly, Embark can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, changes in economic conditions or financial markets; regulatory delays; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; and technological or operational difficulties. This list is not exhaustive of the factors that may affect our forward-looking information. The statements in this press release are made as of the date of this release. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company.
NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/69033