Sets stage for servicing EU medical cannabis market
TORONTO, Feb. 27, 2018 /CNW/ - Nuuvera Inc. ("Nuuvera") (TSXV:NUU) announced today that it has acquired ASG Pharma, a high-capacity Maltese GMP laboratory.
ASG Pharma, one of the few GMP labs in Malta, is expected to be one of Nuuvera's hubs for the production and distribution of oil-based medical cannabis products to the emerging European medical cannabis market.
Nuuvera's CEO, Lorne Abony, said "It is clear that Malta specifically and the European Union generally intend to make consumer protection a priority, and this approach aligns perfectly with our vision to create a centre of excellence in Malta for the production and distribution of pharmaceutical grade cannabis products. To that end, ASG Pharma will adhere to the highest international standards for processing and extraction, distribution and security protocols."
Through its subsidiary, ARA Avanti RX Analytics, Nuuvera is the only international medical cannabis company that has a standalone Health Canada GMP approved facility that is authorized to conduct commercial scale activities with respect to cannabis and other cannabinoids. Through its acquisition of ASG Pharma, Nuuvera will bring this expertise to Malta.
Antonio Costanzo, Nuuvera's Head of International Development, said "The ASG Pharma acquisition is one in a series of deals which will continue to increase Nuuvera's global footprint in the medical cannabis industry. We will continue to build on our strong Canadian base with strategic international operations and partners in order to provide the consumer with the highest quality medical cannabis at a competitive price."
Nuuvera is a global cannabis company founded on Canadian principles, and built with the whole world in mind. Nuuvera is currently working with partners in Germany, Israel and Italy, and is exploring opportunities in several other countries, to develop commercial production and global distribution of medical grade cannabis in legalized markets. Through its subsidiaries, ARA – Avanti Rx Analytics Inc. and Avalon Pharmaceutical Inc., Nuuvera holds a Dealer License (GMP) under the Narcotic Control Regulations and Office of Controlled Substances. Nuuvera is currently in the final stages of the Health Canada review process to become a Licensed Producer of medical marijuana under the ACMPR, and has recently received its "letter to build" approval.
For more information on Nuuvera, please visit: www.nuuvera.com
Notice regarding forward-looking statements:
This release includes forward-looking statements regarding Nuuvera and its business. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of Nuuvera. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting Nuuvera, including risks regarding the cannabis industry, failure to obtain regulatory approvals, economic factors, the equity markets generally and risks associated with growth and competition. Although Nuuvera has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made Nuuvera undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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SOURCE Nuuvera Inc.
For further information: For media inquiries contact: Justin Burrows, Venture Communications, [email protected], 1-416-276-7699; For investor inquiries contact: Jordan Greenberg, Nuuvera Inc., [email protected]