Sets stage for servicing EU medical cannabis
market
TORONTO, Feb. 27, 2018 /CNW/ - Nuuvera Inc. ("Nuuvera")
(TSXV:NUU) announced today that it has acquired ASG Pharma, a
high-capacity Maltese GMP laboratory.
ASG Pharma, one of the few GMP labs in Malta, is expected to be one of Nuuvera's hubs
for the production and distribution of oil-based medical cannabis
products to the emerging European medical cannabis market.
Nuuvera's CEO, Lorne Abony, said
"It is clear that Malta
specifically and the European Union generally intend to make
consumer protection a priority, and this approach aligns perfectly
with our vision to create a centre of excellence in Malta for the production and distribution of
pharmaceutical grade cannabis products. To that end, ASG Pharma
will adhere to the highest international standards for processing
and extraction, distribution and security protocols."
Through its subsidiary, ARA Avanti RX Analytics, Nuuvera is the
only international medical cannabis company that has a standalone
Health Canada GMP approved facility that is authorized to conduct
commercial scale activities with respect to cannabis and other
cannabinoids. Through its acquisition of ASG Pharma, Nuuvera will
bring this expertise to Malta.
Antonio Costanzo, Nuuvera's Head
of International Development, said "The ASG Pharma acquisition is
one in a series of deals which will continue to increase Nuuvera's
global footprint in the medical cannabis industry. We will continue
to build on our strong Canadian base with strategic international
operations and partners in order to provide the consumer with the
highest quality medical cannabis at a competitive price."
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.
For more information on Nuuvera, please visit:
www.nuuvera.com
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.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. 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.