Experion’s Brand, Kanabé Goods Co., Well Positioned to Take Advantage of New Health Canada Regulations
Friday, June 21, 2019 8:30 AM
VANCOUVER, BC / ACCESSWIRE / June 21, 2019 / Experion Holdings Ltd. ("Experion" or the "Company") (TSXV: EXP) (OTCQB:EXPFF), formerly Viridium Pacific Group Ltd., is pleased to provide an update on the Company's brands positioned to take advantage of Health Canada's final regulations for Value-Add Products (VAP's) such as cannabis topicals, edibles and extracts as well as Health Canada's proposal to create a new category ''Cannabis Health Products'' for therapeutic treatment of minor ailments like sleeplessness or sore muscles or for use in pets, paving the way for large new untapped market.
Mr. Jay Garnett, Chief Executive Officer commented "Experion is in continued development of our wellness-centric brand Kanabé Goods Co. www.kanabe.ca for the launch of value-add products (VAP's). There are currently 50 plus existing formulations which we have the ability to produce in our facility and we are also working with key strategic partners for large scale commercial roll-out. These health and wellness products such as non-intoxicating topicals and micro-dosed oils are an entry point for new consumers, broadening the market potential. The Experion management team has decades of experience in consumer-packaged goods and is well positioned to be a first mover in this category which in turn will enable Experion to stand firm in our commitment of unlocking value for our shareholders"
The VAP's regulations come into force October 17, 2019 with product availability earliest December 16th, 2019. Furthermore, Health Canada's proposal for Cannabis Health Products opens the door for a bigger opportunity. The proposal looks to treat health and wellness products with cannabis, similar to Natural Health Products which allows the product to make health claims based on evidence but without the oversight of a practitioner.
Mr. Garnett further commented "A Kanabé topical balm that is non-intoxicating, for example, could potentially be sold via pharmacies or online without the restrictions to have a medical cannabis prescription or buy through a licensed cannabis retailer. The accessibility to purchase is much easier on the consumer, as well as the use of the product much clearer." This proposal further aligns to our educational and public outreach efforts from our Cannabis Wellness Expert and Co-Founder of Kanabé, Krystal Laferriere, who had created the product line to soothe side-effects and other ailments suffered as a result of her Crohn's Disease."
Health Canada is asking the public to submit feedback on this new category via consultation paper until September 3rd.
Health Canada Final Regulations for Value-Add Products
About Kanabe Goods Co
Kanabé Goods Co. www.kanabe.ca creates therapeutic health and wellness products containing cannabis and has over 50 formulations in its portfolio including topical salves, lotions, oils as well as edible oils and capsules. Kanabé products were developed to target and soothe various aliments by combining cannabinoids, terpenes and aromatherapy with a focus on discretion and ease of use by developing products that are already found in consumers everyday life. Kanabé is an adult-use, over-the-counter health & wellness brand ingraining into daily actions and rituals for comfort and solutions to acute problems ranging from sore muscles, to sleep and skin issues.
About Experion Holdings Ltd.
Experion Holdings Ltd. is the parent company of Experion Biotechnologies Inc., a Health Canada licensed cultivator and processor of Cannabis, based in Mission, BC; and EFX Laboratories Inc., a medical products production and clinical research company based in Calgary, AB.
Experion Holdings Ltd. is invested in a portfolio of products to address a wide spectrum of consumer needs' including Medical, Adult-use, and Wellness and Therapeutic products.
For further information, please visit the Company's website www.experionwellness.com or contact:
Experion Holdings Ltd
Judy-Ann Pottinger, Investor Relations
Tel: (604) 617-5290
We invite all investors and other interested parties to join the Experion Holdings portal on 8020 Connect. Join here: http://connects.company/Experion
This press release contains forward-looking information within the meaning of Canadian securities laws. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.
Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, forecast, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Company's equity securities; recent market volatility; the Company's ability to raise the necessary capital or to be fully able to implement its business strategies; the risks identified in the Filing Statement, and other risks and factors that the Company is unaware of at this time. The reader is referred to the Filing Statement dated September 25, 2017 and/or the most recent annual and interim Management's Discussion and Analysis for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through the Company page on SEDAR at www.sedar.com.
SOURCE: Experion Holdings Ltd