TORONTO, Jan. 23, 2018 /CNW/ - Nuuvera Inc. ("Nuuvera") (TSXV:NUU), is pleased to announce that ARA-Avanti Rx Analytics Inc. ("Avanti"), a 51% owned subsidiary of Nuuvera, has entered into a Sale Agreement (the "Agreement") with Tersum S.A. ("Tersum"), an Uruguayan licensed producer of cannabis derivatives that is a wholly-owned subsidiary of ICC Labs Inc. (TSXV:ICC).
According to the Agreement, Avanti will purchase 150 kg of 99% pure CBD from Tersum in 2018. All CBD will be manufactured in Tersum's GMP-certified laboratory in Uruguay and subject to rigorous standards throughout the storage, packaging and shipping process. The Agreement is subject to the approval of the TSX Venture Exchange.
"Importing this product through Avanti, a Licensed Dealer in Canada, reinforces our position as a global supplier of premium cannabis to Canadians," said Lorne Abony, CEO of Nuuvera. "All imported CBD will be tested to ensure that it meets the highest standards of purity and quality," he continued.
Alejandro Antalich, CEO of ICC Labs Inc., is equally pleased to have entered into this important relationship. "Nuuvera understands the importance of identifying global partners to ensure reliable, quality cannabis products are available to consumers," said Mr. Antalich. "Canada is leading the world in making cannabis accessible while ensuring the highest quality standards, and Nuuvera stands out as an exceptional company in the global market."
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.
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.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has in no way passed upon the merits of the transaction and 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