BRAMPTON, Ontario, Oct. 9, 2019 /PRNewswire/ -- CannabCo Pharmaceutical Corp. (CannabCo), a Canadian company located in Brampton, Ontario, is pleased to announce its intent to expand on production and product offerings resulting from the overwhelming interest received on deployment of the PURECANN™ technology. Less than a month ago, CannabCo announced PURECANN, the technology responsible for the production of Odourless Cannabis™, a global cannabis first, and since that time, PURECANN has seemingly created a new market segment in the industry.
Originally developed for the medical market and dubbed 'PURECANN', the technology was designed to eliminate much of the harshness of smoking cannabis by consumers without losing any of its properties. "Since the time of the announcement, the response has been overwhelming," said President & CEO Mark Pellicane, "Within hours of the announcement we were inundated with public inquiries."
Numerous products exist to control cannabis odour both during the production process and aftermarket. "No one thought to eliminate the odour at the source, the product itself," said Pellicane, "We did this with the deployment of PURECANN."
CannabCo has since been featured in multiple live interviews, and press coverage ranging from cannabis specific publications to seemingly unrelated market segments such as publications for the cottage industry. "Everyone wants to know the impact of this technology on different market segments both social, and business related," said Pellicane, "In virtually all cases, the underlying theme was the positive aspect of the elimination of the cannabis smell associated with people using the product." Pellicane further goes on to state that the company has created an entirely new market segment addressing what some consider a fundamental issue surrounding cannabis users, the odour.
"There is no question that there exists a huge demand for odourless products beyond the standard combustion of dry bud," said Mark Novak, COO of CannabCo, "We are currently exploring numerous products both consumable, and non-consumable which will be produced from the manufacturing facility using PURECANN as the base technology."
CannabCo is currently raising capital through an in-house non-brokered private placement. The company is constructing its pilot facility in Brampton, Ontario, and has received a Confirmation of Readiness notification from Health Canada for their pending cannabis license.
CannabCo further intends to pursue a Canadian public listing targeting Q1-Q2 of 2020 and management has retained legal securities council to this effect. The company is currently using MNP for audit purposes.
PURECANN is a technology under the exclusive right to use by CannabCo for the production of Odourless Cannabis™. The process is EU GMP compliant and is designed to produce cannabis product with the following characteristics:
- Virtually undetectable odour of dry product during storage
- Greatly reduced cannabis odor (virtually undetectable) during combustion
- Reduces harshness resulting in a very smooth smoke on combustion
- May be used to produce a "connoisseur" product for a unique market segment
- Less residual heavy feeling "day after effect" associated with smoking cannabis
Upon receiving its license from Health Canada, CannabCo will have exclusive rights to deploy the technology for use in its Canadian production.
About CannabCo Pharmaceutical Corp.
CannabCo Pharmaceutical Corp. is a Canadian based full service cannabis company with operations in Brampton, Ontario. The company has received its "Confirmation of Readiness" from Health Canada to become a licensed producer and is currently building out its pilot facility in the Brampton Area. The company intends to use an enhanced technology known as PHOENIX for its cultivation initiatives claiming a high productivity and significantly lower cost per gram than traditional grows. The company intends to launch extraction initiatives as well as enter the oils, extracts, and consumable markets upon completion of its Brampton Facility. The facility is pursuing EU GMP status allowing access to the underserviced global pharmaceutical market.
Forward Looking Statements
This press release may contain certain "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements may be identified by statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Actual results and developments may differ materially from those contemplated by these statements. Although CannabCo believes that the expectations reflected in forward-looking statements in this press release are reasonable, there can be no assurance that such statements will prove to be accurate. Future events and results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements in this press release. Comments and claims related to PHOENIX and PURECANN are based solely on that observed and the opinions of management as well as third party verifications provided to CannabCo from industry experts.
SOURCE CannabCo Pharmaceutical Corp.