Stillcanna's Romania Extraction Facility Receives Final Operational Permit and Stillcanna Appoints New President of European Operations
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Stillcanna's Romania Extraction Facility Receives Final Operational Permit and Stillcanna Appoints New President of European Operations

Monday, March 2, 2020 10:45 AM
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VANCOUVER, BC / ACCESSWIRE / March 2, 2020 / Stillcanna Inc. (OTC:SCNNF) (CSE:STIL) (FRANKFURT:A2PEWA) ("STIL" or the "Company") Stillcanna has obtained all approvals required to begin commercial operations at its ORIGIN extraction facility in Romania and the Company is pleased to announce the appointment of Mr. Paul van Issum as President of European Operations, effective immediately.

ORIGIN, a joint venture between Stillcanna and Dragonfly Biosciences Ltd. of the UK has received formal endorsement from the Romanian Environmental Protection Agency and Emergency Services Unit. The facility has also received its final operational permit from the town hall of Bailesti Romania. As the operational phase is implemented over the next quarter the Company is expected to begin hiring additional staff and commencing production trials.

Previously, Mr. van Issum was working directly with Mr. Dussault and the Stillcanna management team for more than a year, most recently as a consultant spearheading ORIGIN‘s permit and approval process with various regional and national authorities in Romania. Prior to this, he enjoyed an extensive career as a senior equity capital markets banker. Mr. van Issum is now responsible for the day-to-day operations for all of Stillcanna's European operations.

"With the approvals for our Romanian-based ORIGIN facility in hand, this is the right time to introduce Paul van Issum as our President of European Operations," commented Jason Dussault, CEO Stillcanna. "Paul's efforts in navigating the legal and regulatory frameworks in Romania are a major reason we received the necessary approvals to establish the first fully licensed purpose-built CBD extraction facility in Romania. We have full confidence in Paul's ability to push Stillcanna towards profitability and long-term success moving forward."

"Stillcanna's operations in Poland and Romania leave the Company uniquely positioned in this developing European CBD market," said Mr. van Issum. "I look forward to working with the Stillcanna team to transform this great opportunity into a profitable reality."

About Stillcanna Inc.

Stillcanna Inc. (CSE:STIL) investors.stillcanna.com is 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

CONTACT:

Mauricio Inzunza
[email protected]
1 (844) 442-STIL (7845)

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 is expected to begin hiring additional staff and commencing production trials at its ORIGIN facility. 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 the Company will begin hiring additional staff and commencing production trials at its ORIGIN facility. 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 including that the Company will not begin hiring additional staff and will be unable to commence production trials at its ORIGIN facility. 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.

Stillcanna Inc.
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