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LONDON, ON, July 19, 2018 /CNW/ - INDIVA Limited (the "Company" or "INDIVA") (TSX-V:NDVA) is pleased to give an update on the Swiss import agreement originally announced by press release dated December 19, 2017 (the "Swiss Agreement"). INDIVA has been granted a permit by Health Canada to import high CBD, low THC cannabis strains from Medropharm GmbH and Greenfields Health Care S.A. in Switzerland.
As previously announced, under the Swiss Agreement, INDIVA will be given exclusive rights to import, cultivate and, subject to applicable regulatory approvals, sell three high CBD, low THC cannabis strains from Medropharm GmbH and Greenfields Health Care S.A. INDIVA will receive guidance from the suppliers on best practices, chemical compounds and preferred treatment of the specific strains.
"We are pleased to receive this import permit from Health Canada for these specialized strains," said Niel Marotta, CEO, INDIVA. "We know that high CBD, low THC cannabis strains are frequently sought after by medical cannabis clients and it's our mission to grow the highest-quality of cannabis products. By being the exclusive licensed producer of these carefully selected, high-quality strains, we're able to give our future medical clients the products they are looking for."
About Medropharm GmbH
Medropharm GmbH specialises in the extraction, production and marketing of pharmaceutical grade cannabinoids and cannabinoid-containing products that make an active contribution to the preservation of health and quality of life.
Greenfields is recognized as a pioneering company in the study and development of phyto-cannabinoid solutions for individuals with complex pathologies.
INDIVA is a Canadian supplier of high quality, medical grade cannabis. INDIVA's strain selection, cultivation and client care processes combine the know-how and experience of an internationally recognized and award-winning grow-team with GMP-compliant quality assurance standard operating procedures.
INDIVA's wholly owned subsidiary is a Licensed Producer under Canada's Access to Cannabis for Medical Purposes Regulation ("ACMPR") with its first indoor cannabis production facility located in London, Ontario.
INDIVA aims to become a global marijuana brand recognized for high quality cannabis products and excellent client care. As marijuana laws liberalize in Canada, INDIVA will expand its product offering to include safe edibles and other client-friendly cannabis products. In addition, as marijuana laws liberalize internationally, INDIVA will use its Canadian operations as a platform to open new markets for its cannabis products.
DISCLAIMER & READER ADVISORY
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the Transaction and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties' current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to TSX Venture Exchange approval of the transactions contemplated herein, the performance by the parties of the Swiss Agreement, the import license, future product offerings, future entry into additional markets, changes to laws and regulations in Canada and internationally, and compliance with applicable regulations. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the parties being able to obtain the necessary corporate, regulatory and other third parties approvals; licensing and other risks associated with regulated ACMPR entities; and completion of satisfactory due diligence. The forward looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
SOURCE Indiva Limited
For further information: INDIVA, Niel Marotta, CEO, INDIVA, Phone: 613-883-8541, Email: [email protected]; Steve Low, Investor Relations, Phone: 647-620-5101, Email: [email protected]; Susan Mutterback, Public Relations, INDIVA, Phone: 519-649-6686 x227 or 519-854-6144, Email: [email protected]