TORONTO, Jan. 9, 2018 /CNW/ - Nuuvera Deutschland GmbH, a wholly-owned subsidiary of Nuuvera Inc. ("Nuuvera") (TSXV: NUU), announced today that it has broken ground on the construction of a storage and packaging facility for medical cannabis products.
Nuuvera recently purchased a 11,300 square-foot property in Bad Bramstedt, in northern Germany, to build a premium vault storage system equipped with state-of-the-art security and related technology. The facility is expected to meet the most stringent requirements for the storage of controlled substances in Germany and the EU.
Lorne Abony, the CEO of Nuuvera, said that the new facility will ensure the company can continue to develop into a major supplier of medical cannabis products to German consumers.
"This development is ground-breaking for Nuuvera," said Abony. "It is a critical element of our on-the-ground operations in Germany and throughout Europe."
"With a market of 82-million people, Germany represents a key growth opportunity in this emerging and rapidly growing global business", Abony continued.
Demand for medical cannabis products in Germany is expected to surge in the coming months and years. Legislation passed in 2017 significantly eased consumer access to medical cannabis products. In the German medical system, physicians and pharmacists work closely to ensure that patient needs are met and that only the highest quality products are available.
The Nuuvera facility will be built in two phases. In phase one the storage system will be built and it is expected to be completed and fully operational in Q2 2018. In addition to storage capabilities, it is expected that in phase two the facility will also contain a GMP certified packaging and processing facility, allowing Nuuvera to prepare bulk material shipped from Canada to Germany.
Hendrik Knopp, Managing Director of Nuuvera Germany, said that the facility will function as a hub for German and European supply and distribution.
"Nuuvera's very quick assessment of the demand and needs in Germany are reflected in the significant and highly strategic investment the company is making here," said Knopp. "We are very well-placed to immediately respond to market demand, while ensuring premium quality throughout the cultivation, processing, import, packaging, and shipment to pharmacies.
"Our corporate priority aligns perfectly with that of German physicians, pharmacists and lawmakers: that medical consumers receive top quality product on a consistent basis."
The cultivation, processing, import, packaging, and shipment of medical cannabis in Germany is subject to the receipt of all required regulatory approvals including the approval of the TSX Venture Exchange.
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.
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.
The TSX Venture Exchange has neither approved nor disapproved the content of this press release.
SOURCE Nuuvera Inc.
For further information: For media inquiries only please contact: Justin Burrows, Venture Communications, [email protected], 1-416-276-7699