MOU also lays groundwork for Nuuvera's
charitable efforts in the province
TORONTO, Jan. 12, 2018 /CNW/ - Today Nuuvera Inc.
("Nuuvera") (TSXV:NUU) announced that it has entered into a
Memorandum of Understanding ("MOU") with the Province of
New Brunswick to supply 2.5
million grams of cannabis and related products for the province's
cannabis market.
The MOU sets the groundwork for Nuuvera to supply high-quality
cannabis oil and flower to the province, beginning in July 2018. Included in the agreement is Nuuvera's
commitment to donate two-percent of the gross value of cannabis
products sold to the government to the Cannabis Education and
Awareness Fund.
Lorne Abony, CEO of Nuuvera, said
that the agreement signals Nuuvera's growing participation in
Canada's cannabis industry.
"We are pleased to finalize this important MOU with New Brunswick", said Abony. "Not only is it
the result of productive and open negotiations, but it is an
endorsement of the way Nuuvera operates and what we stand for. We
will keep working with the Government of New Brunswick, and governments across
Canada, to help create a safe,
high-quality industry that meets the needs of all cannabis
consumers."
In addition to the MOU, Nuuvera also announced this week that it
would establish a state-of-the-art laboratory in Saint John that will process, manufacture and
distribute pharmaceutical-grade medical marijuana derivative
products. This will be Nuuvera's second such facility in
Canada and will create new,
skilled jobs for the city.
"With offices in Toronto,
Tel Aviv, Hamburg, and Milan, we are positioned to serve diversified
international markets with medical grade cannabis products, and our
New Brunswick operations will form
a critical piece of our research and development efforts that will
keep us on the leading edge of product innovation," said Abony.
For more information on Nuuvera, please visit:
www.nuuvera.com
About Nuuvera
Nuuvera is a global cannabis company founded on Canadian
principles, and built with the whole world in mind. Nuuvera is
currently working with partners in Germany, Israel and Italy, and is exploring opportunities in
several other countries, to develop commercial production and
global distribution of medical grade cannabis in legalized markets.
Through its subsidiaries, ARA – Avanti Rx Analytics Inc. and Avalon
Pharmaceutical Inc., Nuuvera holds a Dealer License (GMP) under the
Narcotic Control Regulations and Office of Controlled Substances.
Nuuvera is currently in the final stages of the Health Canada
review process to become a Licensed Producer of medical marijuana
under the ACMPR, and has recently received its "letter to build"
approval.
Notice regarding forward-looking statements:
This release includes forward-looking statements regarding
Nuuvera and its business. Often, but not always, forward-looking
statements can be identified by the use of words such as "plans",
"is expected", "expects", "scheduled", "intends", "contemplates",
"anticipates", "believes", "proposes" or variations (including
negative variations) of such words and phrases, or state that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved. Such statements are based
on the current expectations of the management of Nuuvera. The
forward-looking events and circumstances discussed in this release
may not occur by certain specified dates or at all and could differ
materially as a result of known and unknown risk factors and
uncertainties affecting Nuuvera, including risks regarding the
cannabis industry, failure to obtain regulatory approvals, economic
factors, the equity markets generally and risks associated with
growth and competition. Although Nuuvera has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results to differ from those anticipated,
estimated or intended. No forward-looking statement can be
guaranteed. Except as required by applicable securities laws,
forward-looking statements speak only as of the date on which they
are made Nuuvera undertakes no obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future events, or otherwise.
The TSX Venture Exchange has in no way passed upon the merits
of the transaction and has neither approved nor disapproved the
content of this press release.
SOURCE Nuuvera Inc.