BevCanna Awarded Health Canada Cannabis Research License
Company to validate stability of water soluble cannabinoids in a portfolio of beverages as it scales-up towards full commercialization
VANCOUVER–(BUSINESS WIRE)–Emerging leader in infused cannabis beverages, BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF) (“BevCanna” or the “Company”), announced today that Health Canada has granted the Company a Research License for the purpose of researching Stability and Homogeneity of Water Soluble Cannabinoid Infusions in Water Based Beverages.
The license will enable BevCanna to move ahead with research activities that involve direct handling of cannabis such as SOP development, stability testing, sensory evaluation and quality assurance for house brands and white label clients. Led by Emma Andrews, Chief Commercialization Officer at BevCanna in conjunction with BevCanna’s Quality Assurance and Production Team, the research will be performed at BevCanna’s world-class 40,000 square foot HACCP certified bottling facility near Bridesville, British Columbia. The site includes access to a pristine spring water aquifer that will be used as the infusion medium for the initial line of beverages to be produced at the site.
The newly-granted license allows BevCanna to test cannabinoid infusion equipment on their bottling line, as well as in a lab environment, optimizing their precise dosing technology as it scales-up towards full commercialization in 2020. Stability trials will also now commence on BevCanna’s two recently announced brands intended for commercialization in Canada, Grüv Beverages™ and Anarchist Mountain Beverages™.
“We’re excited about the opportunity to expand our product development and innovation efforts to now validate concepts using cannabinoids infused in our own premium spring water,” said Ms. Andrews. BevCanna recently conducted a North-American consumer research study that indicated current and future consumers are most interested in water-based cannabis infused beverages such as iced tea. “Our pristine alkaline spring water aquifer is the ideal source to create these beverages. We have unmatched assets and expertise on our team that will allow us to achieve a speed to market advantage, and develop products that truly resonate with consumers”.
The Research License is the second license granted to BevCanna, following the award of a highly-coveted Industrial Hemp Cultivation License in June 2019. BevCanna has also applied for their Standard Processing License from Health Canada.
About BevCanna Enterprises Inc.
BevCanna Enterprises Inc. (CSE:BEV) develops and manufactures cannabinoid-infused beverages and consumer products for in-house brands and white label clients. With decades of experience creating, branding and distributing iconic brands that have resonated with consumers on a global scale, the team demonstrates an expertise unmatched in the emerging cannabis beverage category. Based in British Columbia, Canada, BevCanna has a 100-acre outdoor cultivation site in the fertile Okanagan Valley and the exclusive rights to a pristine spring water aquifer, as well as a world-class 40,000-square-foot, HACCP certified manufacturing facility, with a current bottling capacity of up to 72M bottles per shift/per annum.
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements under applicable securities laws, including the statements that the Company will validate stability of water soluble cannabinoids in a portfolio of beverages as it scales-up towards full commercialization; the license will enable BevCanna to move ahead with research activities that involve direct handling of cannabis such as SOP development, stability testing, sensory evaluation and quality assurance for house brands and white label clients; the research will be performed at BevCanna’s world-class 40,000 square foot HACCP certified bottling facility near Bridesville, British Columbia, which includes access to a pristine spring water aquifer that will be used as the infusion medium for the initial line of beverages to be produced at the site; the Company’s plan to scale-up towards full commercialization in 2020; stability trials will now commence on BevCanna’s two recently announced brands intended for commercialization in Canada; the Company’s unmatched assets and expertise will allow it to achieve a speed to market advantage, and develop products that truly resonate with consumers; the emerging cannabis beverage category; and the business plans of the Company.
These statements are based on certain assumptions regarding anticipated changes to Canadian federal legislation to legalize infused beverages; the continued normalization of cannabis-infused beverage consumption habits; and the issuances of licences by Health Canada to the Company. Readers are cautioned not to place undue reliance on forward-looking statements. The assumptions of the Company, although considered reasonable by it at the time of preparation, may prove to be incorrect. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with future legislative and regulatory developments; the Company not being issued licences by Health Canada; and other risks. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. The Company 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.
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