Stillcanna's Initial Harvest Numbers up 300% Over Expectations
Wednesday, August 28, 2019 1:24 PM
Fields yielding 1000 Kilos of Extractable Biomass (Flower) per Hectare
VANCOUVER, BC / ACCESSWIRE / August 28, 2019 / Stillcanna Inc. (OTC PINK:SCNNF)(CSE:STIL)(FRANKFURT:A2PEWA) ("STIL" or the "Company") is delighted to announce that initial harvest numbers of biomass are up nearly 300%. The company is currently capturing 1,000 kilos of dry biomass (flower) per hectare. The company had previously announced an expected yield of only 350 kilos of dry extractable biomass (flower) per hectare.
The company’s hemp crops cover several separate parcels of land; the company is currently completing the harvesting of a 200-hectare parcel in the northern area of Poland, Warminsko. Its larger agricultural tracks of land are in southwestern Poland, Dolnoslaskie and in central Poland, around the company’s headquarters. The company’s crops appear quite homogeneous over its various land parcels and Stillcanna feels these initial harvest results should be reflective of its continuing harvest over the next weeks.
The new biomass estimate is based on a twenty-hectare sampling of the first agricultural parcel. Stillcanna foresees no issues in completing its full harvest in the following weeks.
“We couldn’t be happier with our biomass numbers,” stated Jason Dussault of Stillcanna, Inc. “These numbers have exceeded our expectations. These agricultural results should greatly increase our company’s business opportunities and revenue options.”
The company’s extraction equipment has arrived at its Polish NEXUS facility, the placement and installation of the equipment has begun. The company is on schedule to begin extracting and fulfilling its CBD isolate orders in Q4. The company’s new proprietary dryers are anticipated to be operational within the week, preparing its biomass for extraction. Approximately 5,500 kilos of fresh biomass (wet flower) nets 1,000 kilos of dry biomass (flower). Only the flowers of the hemp plant contain CBD.
About Stillcanna Inc.
Stillcanna Inc. (CSE: STIL) www.stillcanna.com is a Canadian early-stage life sciences company focused on large scale CBD extraction in Europe. The Company believes its proprietary intellectual property allows it to extract CBD at a lower cost. The Company has signed an initial extraction contract in Europe to be the exclusive extractor for Dragonfly BioSciences LLC, a United Kingdom-based supplier of CBD. The Company also recently completed the acquisition of Olimax NT SP. Z .O.O, which is expected to increase the Company’s market share in the European CBD industry.
On Behalf of the Board
Jason Dussault, CEO
Cautionary Note Regarding Forward Looking Statements: This release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws, including that the Company’s initial harvest numbers of flower biomass are up over 300 % of anticipated volume and feels these initial harvest results should be reflective of its continuing harvest over the next 5 weeks. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should" or "would" occur. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that Company’s initial harvest numbers of flower biomass are up over 300 % of anticipated volume and feels these initial harvest results should be reflective of its continuing harvest over the next 5 weeks. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, that Company will not yield over 1000 kilos of extractable flower mass per hectare and that these initial harvest results may not be reflective of its continuing harvest over the next 5 weeks. Readers are cautioned not to place undue reliance on forward-looking statements. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
The CSE has not in any way passed upon the merits of and has neither approved nor disapproved the contents of this news release.
SOURCE: Stillcanna Inc.