VANCOUVER, British Columbia, June 19, 2019 (GLOBE NEWSWIRE) — Auxly Cannabis Group Inc. (TSX.V – XLY) (“Auxly“) is pleased to announce that Auxly’s wholly owned subsidiary, Dosecann Inc. (“Dosecann”) has entered into a definitive agreement with Capsugel Inc., a subsidiary of Lonza Group Ltd. (“Capsugel”), to provide Dosecann with a complete line of equipment for capsule filling and sealing, including a state-of-the-art LEMS® machine, Lonza’s proprietary liquid-filled Capsugel® Licaps® capsules, and rights to its capsule filling and sealing LEMS® technology. In addition, Dosecann and Lonza will work collaboratively on new product formulation for cannabis capsule products.
Lonza’s technology is currently used for several functional improvements in health and nutritional applications, including bioavailability enhancement, taste and odor masking, combination products, and controlled and delayed release. With the licensed technology, Dosecann’s PEI facility will be equipped with a full manufacturing line with the capacity to fill and seal up to 200 million Capsugel® Licaps® capsules per year and the ability to deliver new compounds with improved functionality. Access to Lonza’s patented technologies will enhance Dosecann’s product development and manufacturing capabilities and support differentiated product offerings through multiple delivery systems and colour and branding possibilities. With these technologies, Dosecann will be able to bring to market a variety of innovative, differentiated capsule products across a wide range of dosage forms.
“We are very excited to be working in concert with a global leader in capsules and encapsulation technology and look forward to building a creative and fruitful relationship with the Lonza/Capsugel team.” says Hugo Alves, President of Auxly. “The timing is also ideal as we prepare for the derivative products market once those products are legally permitted later this year. Access to Lonza’s technology provides us with innovative delivery solutions for our science-backed cannabis derivative products. Equally as exciting, Dosecann’s incredible science team will collaborate with Lonza to develop enhanced formulations so that we can offer consumers a suite of high quality, effective products and position Auxly as a leader in the capsule product category.”
ON BEHALF OF THE BOARD
“Chuck Rifici” Chairman & CEO
About Auxly Cannabis Group Inc. (TSX.V: XLY) (OTCQX: CBWTF)
Auxly is an international cannabis company dedicated to bringing innovative, effective, and high-quality cannabis products to the medical, wellness and adult-use markets. Auxly’s experienced team of industry first-movers and enterprising visionaries has secured a diversified supply of raw cannabis, strong clinical, scientific and operating capabilities and leading research and development infrastructure in order to create trusted products and brands in an expanding global market.
Learn more at www.auxly.com and stay up to date at Twitter: @AuxlyGroup; Instagram: @auxlygroup; Facebook: @auxlygroup; LinkedIn: company/auxlygroup/.
For investor enquiries please contact our Investor Relations Team:
Media Enquiries (only):
For media enquiries or to set up an interview please contact:
Sarah Bain, VP External Affairs
Notice Regarding Forward Looking Information:
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities law. Forward-looking information is frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or information that certain events or conditions “may” or “will” occur. This information is only a prediction. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking information throughout this news release. Forward-looking information includes, but is not limited to: the proposed operation of Dosecann’s facility, political change, future legislative and regulatory developments involving cannabis and cannabis products; and competition and other risks affecting Auxly and Dosecann in particular and the cannabis industry generally.
A number of factors could cause actual results to differ materially from a conclusion, forecast or projection contained in the forward-looking information in this release including, but not limited to whether: Dosecann is able to obtain and maintain the necessary regulatory authorizations to conduct business, Dosecann is able to obtain and maintain all necessary governmental and regulatory permits and approvals for the operation of its facility and the development of its proposed products, and general economic, financial market, regulatory and political conditions in which Auxly and Dosecann operate will remain the same. Additional risk factors are disclosed in the revised annual information form of Auxly for the financial year ended December 31, 2017 dated May 24, 2018.
New factors emerge from time to time, and it is not possible for management to predict all of those factors or to assess in advance the impact of each such factor on Auxly’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The forward-looking information in this release is based on information currently available and what management believes are reasonable assumptions. Forward-looking information speaks only to such assumptions as of the date of this release. In addition, this release may contain forward-looking information attributed to third party industry sources, the accuracy of which has not been verified by Auxly. The purpose of forward-looking information is to provide the reader with a description of management’s expectations, and such forward-looking information may not be appropriate for any other purpose. Readers should not place undue reliance on forward-looking information contained in this release.
The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release. Except as may be required by applicable securities laws, Auxly does not undertake any obligation to publicly update or revise any forward-looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Get Real-Time Updates from The Daily Marijuana Observer