Stillcanna's Cannabidiol (CBD) Isolate Tests at 99.6% Pure
VANCOUVER, BC / ACCESSWIRE / November 12, 2019 / Stillcanna Inc. (OTC PINK:SCNNF) (CSE:STIL) (FRANKFURT:A2PEWA)("STIL" or the "Company") is pleased to announce that independent testing at the Maria Curie Sklodowska University in Poland
(https://www.umcs.pl/en/about-umcs,1549.htm) verifies the purity of Stillcanna's CBD Isolate developed at its Polish based NEXUS extraction facility. The Company's product tested at 99.6% purity for Cannabidiol (CBD).
With the third party Certificate of Analysis (COA) in hand Stillcanna has begun shipping samples of its product to new and existing customers.
The Company's NEXUSextractionfacility in Poland continues to increase production daily in each of the multiple steps required to make Pharma Grade CBD Isolate. The company remains on track to produce over 1320 kilos per month of high quality CBD Isolate by running 3 shifts in the NEXUSfacility.
On May 28, 2019 Stillcanna signed a definitive agreement with California based Biosciences to supply them with C$36 million dollars worth of CBD Isolate beginning in Q4, 2019. The Company anticipates starting shipments of bulk CBD Isolate to its client Biosciences towards the end of the week. http://stillcanna.com/stillcanna-signs-definitive-agreement-with-biosciences-enterprises-to-supply-c36-million-worth-of-cbd-isolate-and-implements-a-two-stage-extraction-plan-for-poland/
On August 23, 2019 Stillcanna signed a definitive agreement with Sequoya Cannabis to supply hemp biomass. The company intends to begin contract fulfillment towards the end of the week. http://stillcanna.com/stillcanna-signs-definitive-agreement-to-supply-hemp-biomass-to-sequoya-cannabis/
"It has always been our plan to focus on quality first and quantity second," explained Jason Dussault CEO of Stillcanna." Now that we have consistent quality in our extraction facility we can ramp things up to achieve quantity. The NEXUSfacility has successfully processed the required quantity of raw hemp biomass in an 8-hour shift to meet its 1320-kilo a month of Pharma Grade CBD Isolate based on 3 shifts.
About Stillcanna Inc.
Stillcanna Inc. (CSE: STIL) www.stillcanna.comis a Canadian early-stage life sciences company focused on the large scale manufacturing of CBD 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, a multi-generational hemp agricultural firm that 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 should be in full commercial scale production this quarter.
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 the Company has begun shipping samples and anticipates shipping bulk CBD Isolate to its customer Biosciences this week."
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, and that the NEXUS facility has successfully processed enough hemp biomass in an 8-hour shift to meet its 1320-kilo a month target of Pharma Grade CBD Isolate based on three shifts. The Company may not meet its 1320-kilo per moth target at all.
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.