Arcadia Biosciences (RKDA) Receives Health Canada Approval for GoodHemp™ Varieties
-- Approval confirms superior variety consistency and enables sales for 2021 Canadian planting season --
-- Tritium 3H accepts initial GoodHemp seed order for import into Canada --
DAVIS, Calif., April 20, 2021 /PRNewswire/ -- Arcadia Biosciences, Inc.® (Nasdaq: RKDA), a leader in science-based approaches to enhancing the quality and nutritional value of crops and food ingredients, announced that three of its GoodHemp™ varieties have earned approval from Health Canada for their consistency and compliance. This approval follows the recent certification of GoodHemp seed varieties by the Association of Official Seed Certifying Agencies (AOSCA) and is the final step to enable hemp seed sales in Canada.
GoodHemp seed varieties and genetics are distributed in Canada by Tritium 3H, Inc. (T3H), which specializes in hemp field testing, certified seed production, commercialization and distribution of industrial hemp varieties. The approval from Health Canada broadens the geographic opportunities for GoodHemp and enables growers to access high quality seeds through Tritium for the 2021 growing season.
"The Health Canada approval demonstrates the stability and compliance of our cultivars," said Arcadia CEO Matt Plavan. "We are happy to report we have already shipped the first GoodHemp seed order to Tritium 3H to bring our CBD-dominant, short-day varieties to Canada's industrial hemp growers for the 2021 planting season."
GoodHemp varieties approved by Health Canada include:
- Umpqua: CBD-dominant, early photoperiod variety for both the smokable and CBD extraction markets. Prized for its unique terpene profile.
- Rogue: CBD-dominant, high-yielding intermediate photoperiod variety for the CBD extraction markets. Brings exceptional yields under low planting densities.
- Santiam: CBD-dominant, early photoperiod variety with exceptional utility in northern latitudes for both the smokable and CBD extraction markets. Delivers step change yield potential.
"We're pleased to partner with Arcadia in bringing these high CBD, early maturing feminized hybrids to Canada," said Jayme Hunter, Tritium 3H CEO. "These GoodHemp varieties performed well in our 2020 field trials with excellent yield, uniformity and quality; they are hybrids with excellent performance potential in Canada's hemp growing regions."
GoodHemp is Arcadia's commercial portfolio of genetically superior hemp seeds, transplants and extracts introduced in 2019. Since then, Arcadia has been rapid-prototyping novel non-GM hemp varieties that target quality and performance characteristics highly desired by growers to overcome their greatest challenges. GoodHemp varieties have been field-tested extensively in regional and national trials by the T3H and Arcadia teams.
For more information about GoodHemp's unique seed varieties, visit www.growgoodhemp.com.
About Arcadia Biosciences
Arcadia Biosciences (Nasdaq: RKDA) is a leader in science-based approaches to enhancing the quality and nutritional value of crops and food ingredients. The company's GoodHempTM seed catalog delivers genetically superior hemp seeds, transplants and extracts, bringing the benefits of modern agriculture to an emerging crop. The company's GoodWheat™ branded ingredients deliver health benefits to consumers and enable consumer packaged goods companies to differentiate their brands in the marketplace. For more information, visit www.arcadiabio.com.
About Tritium 3H
Tritium 3H works collaboratively with breeders, producers and end users to bring well-adapted hemp varieties with superior performance traits to market. It's the goal of T3H to maximize value and return for partners at each step of the supply chain. For more information, visit www.growtritium.com.
Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Health Canada approval and the impact of that approval on Arcadia's business and financial results. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. These risks and uncertainties include, but are not limited to: the continued performance of the seed varieties to maintain Health Canada approval; the adequacy of hemp seed demand and pricing to support our projections; the company's compliance with laws and regulations that impact the company's business, and changes to such laws and regulations; and the company's future capital requirements and ability to satisfy its capital needs. Further information regarding these and other factors that could affect the company's financial results is included in filings the company makes with the Securities and Exchange Commission from time to time, including the section entitled "Risk Factors" and additional information set forth in its Form 10-K for the year ended December 31, 2020 and other filings. These forward-looking statements speak only as of the date hereof, and Arcadia Biosciences, Inc. undertakes no duty to update these forward-looking statements.
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SOURCE Arcadia Biosciences, Inc.
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