BRAMPTON, ON, Sept. 10, 2019 /CNW/ - CannabCo Pharmaceutical Corp. (CannabCo), a Canadian company located in Brampton, Ontario, is pleased to announce an agreement with an undisclosed technology provider to deploy an advanced cannabis technology for the production of near odourless cannabis. This is an industry first and a product the company claims is sorely needed in the marketplace. Upon receiving its license from Health Canada, CannabCo will have exclusive rights to deploy the technology for use in its Canadian production.
Originally developed for the medical market and dubbed "PURECANN", the technology was designed to eliminate much of the harshness of smoking cannabis by consumers without losing any of its properties. "Cannabis by its nature when burnt, typically causes coughing and is very heavy when inhaled, which is especially true for new users." Commented Mark Novak, Cannabco's COO. "The technology when deployed eliminates much of the harshness of smoking cannabis in its dry form allowing the process of using cannabis far more tolerable while retaining the essential properties".
The technology also virtually eliminates odour typically associated with cannabis, both when packaged and stored prior to use, also during the time it is smoked. "When we saw the technology in action and the end result, we realized there were a number of potential markets associated with the use of PURECANN", said President and CEO Mark Pellicane, "There are no third-party gadgets, or devices on the part of the user, the end result is pure cannabis that doesn't smell".
Fully compliant with GMP standards, the company intends to utilize the technology for production of products distributed to the medical and recreational markets. "Imagine someone going outside for a break during the day, having their afternoon cannabis and coming back without any odour attached to their clothing or coat." commented Pellicane. "A woman can carry cannabis in her purse without having the odour concentrated or leaking out in her handbag. A number of users, and people that are around cannabis smokers, complain about the smell especially in enclosed areas, condos, and apartments, and this technology addresses those concerns."
"Over the last two years we've observed product being processed with the system and we were given the opportunity to provide feedback and suggestions for the refinement of the process. We have been incredibly pleased with the results" said Novak. "In using this technology CannabCo will be able to produce a wide variety of products currently not in the marketplace, addressing a key market segment that currently does not exist."
The tech company has the following claims associated with implementing PURECANN:
- Virtually undetectable odour of dry product during storage
- Greatly reduced cannabis odor (virtually undetectable) during combustion
- Reduces harshness resulting in a very smooth smoke on combustion
- May be used to produce a "connoisseur" product for a unique market segment
- Less residual heavy feeling "day after effect" associated with smoking cannabis
CannabCo is currently raising capital, constructing its pilot facility in Brampton, Ontario, and has received a Confirmation of Readiness notification from Health Canada for their pending cannabis license. Cannabco intends to implement the PURECANN technology upon completion of licensing by Health and intends to produce a number of product lines addressing key segments in the medical and recreational markets.
Cannabco also recently announced the intention to deploy PHOENIX technology for its indoor grow operations reducing cannabis production costs to under $.50 per gram. "We intend to allocate a portion of product cultivated with PHOENIX for the manufacture of specialty products using PURECANN", confirmed Novak.
The company has not yet decided if it will apply the technology in the form of third party services for processing cannabis supplied from other Canadian producers however when asked, Pellicane commented "It's a new technology and works hand in hand with PHOENIX, so there is a significant advantage applying it to a portion of our cultivated product, however we have not ruled out processing for other LP's and nothing is currently off the table." Cannabco currently maintains exclusive rights to deploy the technology for its Canadian cultivation and manufacturing operations.
About CannabCo Pharmaceutical Corp.
CannabCo Pharmaceutical Corp. is a Canadian based full service cannabis company with operations in Brampton, Ontario. The company has received its "Confirmation of Readiness" from Health Canada to become a licensed producer and is currently building out its pilot facility in the Brampton Area. The company intends to use an enhanced technology known as PHOENIX for its cultivation initiatives claiming a high productivity and significantly lower cost per gram than traditional grows. The company intends to launch extraction initiatives as well as enter the oils, extracts, and consumable markets upon completion of its Brampton Facility. The facility is pursuing EU GMP status allowing access to the underserviced global pharmaceutical market.
Forward Looking Statements
This press release may contain certain "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements may be identified by statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Actual results and developments may differ materially from those contemplated by these statements. Although CannabCo believes that the expectations reflected in forward-looking statements in this press release are reasonable, there can be no assurance that such statements will prove to be accurate. Future events and results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements in this press release. Comments and claims related to PHOENIX and PURECANN are based solely on that observed and the opinions of management as well as third party verifications provided to CannabCo from industry experts.
SOURCE Cannabco Pharmaceutical Corp
For further information: CannabCo Pharmaceutical Corp., [email protected], www.cannabco.ca