Harvesting Expert Joins Stillcanna's Team
VANCOUVER, July 9, 2019 /CNW/ - Stillcanna Inc. (CSE:STIL, OTC:SCNNF, FRANKFURT:A2PEWA) ("STIL" or the "Company") is pleased to announce that final preparations for the harvesting of its 2019 crop are being implemented by its Olimax team in Poland.
To supplement Olimax's 20 years of agricultural experience and to better handle such a significant harvest, the Company has retained Mateusz Bojek, a third generation agricultural expert specializing in the harvesting, drying and storing of hemp to retain its highest Cannabidiol (CBD) content. Mateusz represents one of Europe's leading suppliers of specialty farm equipment and is the author of a patent for proprietary harvesting and drying equipment held by Olimax.
Hemp has been grown for seed and fiber in Europe for centuries. The growing, harvesting and drying of hemp for the extraction of CBD is a new specialty. Backed with generational experience, Mateusz developed equipment, technology and methodologies to maximize the efficiency of harvesting hemp for CBD. As part of the Olimax agricultural family, Mateusz concentrated on the harvesting and post-harvesting processes, creating a broad knowledge base, contacts throughout the industry and a thorough understanding of the Seed to CBD process within Olimax.
"Having Mateusz join our Polish team is another strong link in our supply chain." Stated Jason Dussault CEO of Stillcanna. "Mateusz's knowledge and expertise in the harvesting of hemp, specifically for the production of CBD is rare in this young industry, and we are pleased to have him onboard."
The Company's newest extraction facility in Poland, named Nexus, is a technical upgrade from its first extraction facility in Romania, named Origin, which is a J.V. with Dragonfly Biosciences. Stillcanna's third planned extraction facility in Poland, named Horizon, will be a technical culmination of acquired practical knowledge from the Origin and Nexus facilities. Horizon is designed to be one of the most advanced, green, high-capacity facilities in the world.
The Nexus extraction facility in Poland is expected to be operational in Q4 of 2019. While capable of producing both distillate and isolate, Nexus has been engineered to produce over 1,000 kilos of isolate every month. Nexus has also been designed to double its capacity with the addition of more distillation equipment (if required) while the Company builds Horizon.
Please visit http://www.thestillcannareport.com for interviews with Stillcanna's Polish team and current photos of the Company's hemp fields.
The Company's Founder Marc Crimeni is relocating to Europe. In tandem with his relocation, Mr. Crimeni has resigned from the Stillcanna Board of Directors and Shae de Jaray, the Company's Chief Operating Officer and Senior Engineer, has been appointed to the Board.
The Company is pleased to announce a total of 500,000 stock options have been granted to certain employees and consultants of the Company pursuant to the Company's stock option plan. The options are exercisable for a period of 5 years at a price of $1.10 per share.
About Stillcanna Inc.
Stillcanna Inc. (CSE: STIL) www.stillcanna.com is a Canadian early-stage life sciences company focused on large scale CBD extraction in Europe. The company feels its proprietary intellectual property allows it to extract CBD at a lower cost. The company has signed an initial extraction contract in Europe to be the exclusive extractor for Dragonfly BioSciences LLC, a United Kingdom-based supplier of CBD. Upon the completion of its Polish extraction facilities, Stillcanna will be one of the largest processors and providers of market ready CBD in Europe.
Cautionary Note Regarding Forward Looking Statements: This release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws, including statements regarding the building of an extraction facility in Poland, the anticipated levels of production. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should" or "would" occur. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that the building of a CBD extraction facility in Poland will be successful, the anticipated level of production at the planned CBD extraction facility in Poland will be accurate upon completion of the facility. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, that Olimax will not successfully build a CBD extraction facility in Poland, or the anticipated level of production at the planned CBD extraction facility in Poland will not be achieved due to changing market conditions or changes in the laws and regulations in respect of CBD extraction. Readers are cautioned not to place undue reliance on forward-looking statements. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
SOURCE StillCanna Inc.
For further information: Mauricio Inzunza, [email protected], 1(844)-442-STILL (7845)