AgMedica Bioscience Inc. Announces Receipt of Cannabis Oil Sales License

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Chatham, Ontario, Canada, June 06, 2019 (GLOBE NEWSWIRE) -- Chatham, Ontario – June 6, 2019 - AgMedica Bioscience Inc.("AgMedica" or the "Company"), a licensed producer of cannabis for medicinal and adult-use consumers, is pleased to announce that it has received approval from Health Canada for a license amendment allowing for the sale of cannabis oil products, effective May 31, 2019. The cannabis oil sales license enables AgMedica to provide medicinal patients and adult-use consumers with greater choice through a portfolio of bottled oils that includes CBD, THC and Balanced varieties, all of which are considered higher-demand products.

AgMedica is currently generating full-spectrum extracts via supercritical CO2 extraction and as previously announced on March 5, 2019, will supplement this method with its exclusive Canadian license for the unique Herbolea Biotech extraction method, Bio-Herbolysis™, subject to receiving all required regulatory approvals. Bio-Herbolysis™ is a patent-pending, disruptive extraction technology that offers a significant cost advantage over CO2 or ethanol. Bio-Herbolysis™ delivers a high-quality, solvent-less extraction with a simple one-step process that is industrially proven and offers significant operational and investment savings. The process utilizes low temperatures and supports the direct input of wet material which results in a true full-spectrum extract within four hours, maintaining the presence of volatile terpenes which give cannabis its characteristic flavour and aroma, as well as the potential to provide cannabinoids in their original acidic form.

The Bio-Herbolysis™ process equipment, capable of processing up to 20 kg/hour on a continuous basis, has been received and is in the process of being commissioned for use following Health Canada approval. Later in 2019, AgMedica plans to implement larger-scale continuous processing equipment for the Company’s own products and potentially to meet the extraction needs of other licenced cannabis producers. All of these factors help open channels for AgMedica’s access to global markets.

“With our oil sales license now in hand and the potential to leverage the innovative Bio-Herbolysis™ extraction technology, AgMedica is ideally positioned to gain access to international markets for our products,” said Dr. Trevor Henry, AgMedica’s CEO. “I am proud of the continued success realized by AgMedica as we develop further differentiated products that positively contribute to the ongoing evolution of the cannabis sector.”

Receiving the oil sales license represents another key milestone in AgMedica’s path toward becoming a global leader in the development and commercialization of cannabis and cannabis-derived products designed to support client health and wellness. Since late 2017, the Company has secured all regulatory approvals required to harvest and sell cannabis, which has contributed to the ongoing growth and enhancement of the business.

AgMedica Bioscience Inc. Announces Closing of Strategic Investment in Extraction Technology Company, Herbolea Biotech S.r.l.

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CHATHAM, ON, March 5, 2019 /CNW/ - AgMedica Bioscience Inc. ("AgMedica" or the "Company"), a licensed producer of medicinal cannabis, is pleased to announce the closing of its strategic investment in Herbolea Biotech S.r.l. ("Herbolea Biotech") (the "Investment"), previously announced on October 18, 2018.  Herbolea Biotech is an Italian company focused on the development of Bio-Herbolysis™, a patent-pending, disruptive extraction technology.  The Bio-Herbolysis™ process delivers a high-quality, solvent-less extraction, with a simple one step process that is industrially proven at over 300 kg/hour, yielding over 90% efficiency, and with significant operational and investment savings;  the ability to directly input wet material and its low temperature process, results in a true full spectrum extract, maintaining the presence of volatile terpenes which give cannabis its characteristic flavour and aroma, as well as the potential to easily provide cannabinoids in their original acidic form.

With closing of the Investment, AgMedica now holds a 25% equity position in Herbolea and will be appointing one member to join Herbolea's board of directors.  In concert with the Investment, the Company secured exclusive rights to utilize Bio-Herbolysis™ in the Canadian market and secured a licence for the use of Bio-Herbolysis™ in the German market (the "License Agreement"). The Bio-Herbolysis™ process is already being implemented through an initial installation of equipment capable of processing up to 15 kg/hour on a continuous basis, in AgMedica's Canadian operations in Q1 2019, for use in the extraction of cannabis and hemp for AgMedica's own products and potentially to meet the needs of other licenced cannabis producers. Plans also include the implementation of larger scale continuous processing equipment in 2019.

With both the Investment and the License Agreement, AgMedica and Herbolea benefit from improved access to capital, which will be instrumental for accelerating entry into several new key markets, and to propel future potential revenue growth.  

"Our investment in Herbolea and securing the License Agreement represent significant milestones for AgMedica," said Dr. Trevor Henry, CEO of AgMedica.  "AgMedica will deploy the licensed technology to more aggressively pursue entry into new global markets and continue developing differentiated products that will contribute to the evolution of the cannabis sector. In addition to delivering a unique true full spectrum product, we expect AgMedica to achieve a significant cost advantage over CO2 or ethanol."

"We are thrilled to have AgMedica as our new strategic partner to further advance the disruptive potential of Bio-Herbolysis™ in the production of true, full-spectrum cannabis extracts," said Igino Angelini, CEO of Herbolea Biotech. "Our focus on expanding global adoption of this ground-breaking technology, as well as building a full suite of flexible and integrated Cannabinoids extraction solutions, will be rapidly accelerated by this strategic Investment, the License Agreement and our ongoing collaboration."

About AgMedica Bioscience Inc.

As a licensed producer of medicinal cannabis, AgMedica is dedicated to becoming a global leader in the development and commercialization of cannabis and cannabis-derived products to support the health and wellness of our clients.  We aspire to drive the evolution of the cannabis industry by focussing investment on the development and commercialization of differentiated products in the medicinal, health & wellness and pharmaceutical sectors. For further information, please visit our website at www.agmedica.ca.

About Herbolea Biotech S.r.l.

Herbolea Biotech™ is an Italian extraction technology company focused on transforming high therapeutic potential plants into superior quality products by using Bio-Herbolysis™, its patent-pending, highly efficient and environmentally friendly technology. Bio-Herbolysis™ extracts Cannabinoids with an efficiency above 90%, and allows for processing of wet material, preserving the full acidic forms as well as the original terpene profile. The process does not require the use of organic solvents, harmful substances or CO2.  Bio-Herbolysis™ is highly scalable, GMP eligible, and proven at industrial applications well over 1,000 kg/ h. In addition to Italy, Canada and Germany, Herbolea™ is currently expanding its operations to Latin America and other regions in Europe.  www.herbolea.com

Disclaimer

This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. These risks and uncertainties include, but are not limited to, the availability of further financing, consumer interest in its products, competition, regulation, operational and technological risks, and anticipated and unanticipated costs and delays. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

SOURCE AgMedica Bioscience Inc.

For further information: For media or other inquiries, please contact: AgMedica Bioscience Inc., Sengkee Ahn, MBA, FEA, Vice President, Investor Relations and International Business Development, P: 1-844-247-4633, E: info@AgMedica.ca; Herbolea Biotech S.r.l., Igino Angelini, CEO, E: info@herbolea.com


AgMedica Bioscience Inc. Announces Strategic Investment in, and Exclusive Canadian Licencing Agreement with, Extraction Technology Company, Herbolea S.r.l.

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Chatham, Ontario - October 18, 2018 - AgMedica Bioscience Inc. ("AGMEDICA" or the "Company"), a licensed producer of medicinal cannabis, is pleased to announce  a strategic investment in, and exclusive licencing agreement with, Herbolea S.r.l. ("HERBOLEA") (the "Agreement"), a company focused on the development of Bio-Herbolysis™, a patent-pending, disruptive extraction technology.  The unique Bio-Herbolysis™ extraction process does not utilize organic solvents or supercritical CO2, resulting in significantly lower capital and input costs, while maintaining the presence of volatile terpenes which give cannabis its characteristic flavour and aroma. 

AGMEDICA and HERBOLEA plan to leverage the licensing agreement to deliver distinct and true full-spectrum extracts derived from fresh cannabis and hemp as well as traditional extracts from dried cannabis and hemp, to service the Canadian and German markets.  The two companies will focus the expertise of their respective management and scientific teams, based in Canada and Italy, to accelerate the development of therapeutic products for human and veterinary use.  This Agreement represents a significant milestone for AGMEDICA as part of the Company’s strategy to develop differentiated products that contribute to the continued evolution of the cannabis sector.  It also significantly enhances HERBOLEA’s ongoing efforts to expand the global use of Bio-Herbolysis™. Not only does the Agreement afford the two companies an improved ability to develop unique products, it is also anticipated that utilizing the Bio-Herbolysis™ technology will enable AGMEDICA to capture significant savings in the extraction process and realize lower costs associated with capacity scaling and ongoing production flexibility.

Under the terms of the Agreement, AGMEDICA has agreed to purchase a 25% equity position in HERBOLEA.  In addition, the Agreement grants AGMEDICA exclusive rights to utilize Bio-Herbolysis™ in the Canadian market, and a licence for the use of Bio-Herbolysis™ in the German market.  AGMEDICA will implement the Bio-Herbolysis™ process in their Canadian operations for use in the extraction of cannabis and hemp, both for AGMEDICA’s own products, and to offer as a service to other licenced cannabis producers. The Agreement is anticipated to close in early December, 2018. 

"We are very pleased with our strategic investment and licencing agreement with HERBOLEA, which provides AGMEDICA the opportunity to be first to market with a patented, disruptive and lower-cost extraction technology that can be used to develop a line of differentiated cannabis and hemp derived products." said Dr. Trevor Henry, CEO of AGMEDICA.  "Investing directly in HERBOLEA creates clear alignment between our respective companies as we collaborate, while giving AGMEDICA direct exposure to their continued success and growth."

"We are delighted to have AGMEDICA providing a strategic investment to further validate the disruptive potential of Bio-Herbolysis™ in the production of true, full-spectrum cannabis extracts,” said Igino Angelini, CEO of HERBOLEA. "HERBOLEA is focused on expanding global adoption of this ground-breaking proprietary extraction technology that will deliver differentiated cannabis extracts to a market that is forecast to experience rapid expansion."

About AgMedica Bioscience Inc.

As a licensed producer of medicinal cannabis, AGMEDICA is dedicated to becoming a global leader in the development and commercialization of cannabis and cannabis-derived products to support the health and wellness of our clients.  We aspire to drive the evolution of the cannabis industry by focussing investment on the development and commercialization of differentiated products in the medicinal, health & wellness and pharmaceutical sectors.  The Company’s established Riverview Cultivation Facility is located in Chatham, Ontario, and Phase I of our first innovative multi-tier cultivation facility is currently in production with a total annual capacity of 6,000 kg of medical-grade cannabis.  Construction on Phase II of the Riverview Cultivation Facility is well under way, with completion and start-up expected in Q1 2019 which will bring total annual capacity up to 26,500 kg. www.agmedica.ca.

About Herbolea S.r.l.

Herbolea™ is an Italian extraction technology company focused on transforming high therapeutic potential plants into superior quality products by using Bio-Herbolysis™, its patent-pending, highly efficient and environmentally friendly technology. Bio-Herbolysis™ extracts Cannabinoids with an efficiency above 90%, and allows for processing of wet material, preserving the full acidic forms as well as the original terpene profile. The process does not require the use of organic solvents, harmful substances or CO2.  Bio-Herbolysis™ is highly scalable, GMP eligible, and proven at industrial applications well over 1,000 kg/h. In addition to Italy, Canada and Germany, Herbolea™ is currently expanding its operations to Latin America and other regions in Europe.

Disclaimer

This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. These risks and uncertainties include, but are not limited to, the availability of further financing, consumer interest in its products, competition, regulation, operational and technological risks, and anticipated and unanticipated costs and delays. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.