Vancouver, BC — June 14, 2018 — /D.M.O. Newswire/ — Stone Ridge Exploration Corp. (CSE:SO) provided an update further to its press release dated February 8th, 2018 regarding a proposed reverse takeover transaction with Sproutly Inc.
Stone Ridge announced that Sproutly, via its wholly-owned subsidiary Toronto Herbal Remedies Inc., has received its Access to Cannabis for Medical Purposes Regulations license from Health Canada to cultivate cannabis. Following the granting of the license, Sproutly is now permitted to cultivate cannabis at its 16,600 sq ft. facility strategically located in the Greater Toronto Area.
Keith Dolo, Chief Executive Officer of Sproutly, commented, “Achieving our Cultivation License is a significant milestone and key to implementing our strategy to become a leading vertically integrated cannabis consumer products company, bringing together pharma-grade cultivation, secured distribution solutions, and advanced technologies to redefine the cannabis industry.”
This announcement follows shortly after Sproutly entered into non-binding letters of intent to acquire Infusion Biosciences Canada Inc., a biotech company possessing the rights to Infusion Biosciences Inc.’s technology which is able to recover water soluble cannabinoids as well as the plant’s oil-based bioactive materials using a patent pending process, proprietary reagents and trade secrets and SSM Partners Inc.
Get Real-Time Updates from MJobserver.com