/NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Feb. 4, 2019 /CNW/ - Gefion Canada, Inc. ("Gefion"), a private company incorporated under the Canada Business Corporations Act (the "CBCA") announces that it has signed an Agreement with KGK Science, Inc. ("KGK") of London, Ontario. The Agreement calls for KGK to handle Gefion's filings with Health Canada for the clearance of its GT topical delivery systems and products for sale in Canada. In addition, on behalf of Gefion, KGK will conduct a clinical trial assessing blood levels obtained with the topical delivery of CBD and THC through GT technology as well as speed of onset of action of the cannabinoids. The Gefion GT topical delivery systems and the HEMP Herbal Extracts Plus OTC line through BeaconUnited are all available for sale in the United States. KGK is Canada's leading Contract Research Organization in Cannabis Research.
Gefion is a private Canadian corporation which has licensed transdermal delivery technology from a leading United States specialty pharmaceutical company developing transdermal technology. The license is an exclusive royalty free world-wide right to use any of the Company's transdermal delivery technology for the development and sale of herbal extracts products which include cannabis and hemp based products. Gefion plans to use the Gefion Technologies GT series delivery technology which permits target levels of hemp extracts with naturally occurring CBD, herbal extracts and cannabis to be delivered through application on the skin for delivery to underlying tissue or the blood stream. The Gefion Technologies GT1, GT2, GT3 and GT4 delivery systems are covered by a pending patent.
In anticipation of the passage of the 2018 Farm Bill which clarified that it is legal to ship products containing hemp extracts with naturally occurring CBD with .3% THC or less throughout the United States, Gefion created a line of "Extracts Plus" products that combine the GT series technology with hemp and various herbal extracts to create a series of life-style products for the consumer market. Gefion has engaged BeaconUnited for the launch of these "Extracts Plus" hemp products into the United States over-the-counter retail markets.
Gefion is selling its GT delivery series bases to licensed extractors and distributors in United States states where cannabis is legal. Gefion intends to sell these GT delivery series bases as well as the Hemp Extracts Plus OTC line in Canada after registration with Health Canada.
For over two decades, KGK has been a leading Contract Research Organization in Canada specializing in human clinical trials for the health and nutrition industry. KGK integrates scientific, clinical research, commercial and regulatory expertise to deliver well-designed solutions for companies. As a leading full-service contract research organization offering human clinical trials, KGK's aim is simple—to utilize its scientific strengths and experience to serve the expanding business and consumer demands as it relates to the prescription, natural health products and nutrition industries. KGK assists in identifying the health benefits of a compound and designing clinical trials to aid in claims substantiation.
Prior News Release and Reverse Takeover Transaction
By news release dated November 19, 2018 Gefion announced that it had entered into a definitive business combination agreement with Maclos Capital Inc. ("Maclos") (OTC: LMSMF) which, subject to certain conditions and applicable Canadian Securities Exchange ("CSE") approval, will result in the reverse takeover of Maclos by Gefion (the "RTO"). The parties continue to work towards closing of the RTO estimated to be in March 2019.
Forward-Looking Information Statement
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein are forward looking information. Specifically, all statements with regard to any anticipated or implied financial results of the effect of the agreement with KGK on Gefion's business are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budgets", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects the current beliefs of Gefion and is based on information currently available to Gefion and on assumptions that Gefion believes are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Gefion to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions; delay or failure to receive board or regulatory approvals; the actual results of future operations; competition; changes in legislation affecting Gefion; the timing and availability of external financing on acceptable terms; and lack of qualified, skilled labor or loss of key individuals, the failure of parties to agreements with Gefion to meet their obligations or projections and the other factors. Although Gefion has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Gefion as of the date of this news release and, accordingly, is subject to change after such date. However, Gefion expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law. Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Gefion Canada, Inc.
For further information: Gefion Media Contact: Gefion Canada Inc., Attention: Laura Stephens, Phone: +1-978-473-7007.; KGK Science, Inc.: KGK Science, Inc., Attention: Bibiane Zakaria, Phone: +1-519-438-9374 ext. 222