TORONTO, May 10, 2018 /PRNewswire/ - Beleave Inc. ("Beleave" or the "Company") (CSE: BE) (OTCQX: BLEVF) is pleased to announce that it has completed the construction and commissioning of a new state-of-the-art industrial extraction laboratory at its production facility located in Hamilton, Ontario. The laboratory design is based on recent work stemming from research collaborations with principal investigators at Ryerson University, Department of Chemistry and Biology, and which has led to the development of a proprietary and large-scale industrial method for the extraction and purification of cannabinoid compounds from plant tissue.
The Company has filed a patent application in the United States and Canada for this extraction method which involves the activation, purification and extraction of cannabinoid active ingredients (including Δ9-tetrahydrocannabinol [THC], and cannabidiol [CBD]) from cannabis using only ethanol and other food-grade components, without the use of organic solvents. This method delivers high purity and yields of cannabinoid compound using a process that is scalable and efficient, and has been approved by Health Canada to be implemented for cannabis oil production by Beleave's wholly-owned subsidiary, Beleave Kannabis Corp. The Company projects an initial production capacity of 200,000 mL of cannabis oil per week and anticipates the ability to scale this up to 1,000,000 mL by Q3 2018.
"Following the approval by Health Canada to implement our newly developed proprietary extraction method for the production of cannabis oils, we are very excited to put this method into practice at an industrial scale," commented Beleave Chief Science Officer, Dr. Roger Ferreira. "We also look forward to making use of this method for R&D efforts by using high-purity cannabinoid compounds for the development of cannabis food and drug products."
Beleave Inc. is a biotech company and Beleave's wholly-owned subsidiary Beleave Kannabis Corp. (formerly First Access Medical Inc.) is a licensed producer pursuant to the ACMPR. Beleave's purpose-built facility is located in Hamilton, Ontario.
This news release contains "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). The use of any of the words "plan", "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and other similar words, or statements that certain events or conditions "may" or "will" occur are intended to identify forward-looking information. These statements are only predictions. Although the Company believes that the expectations and assumptions on which the forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. These risks and uncertainties include, but are not limited to, the Company's ability to satisfy the conditions associated with its cultivation license, the Company's ability to obtain a sales license and the related timing considerations, the availability of further financing, consumer interest in its products, competition, regulation, operational and technological risks, and anticipated and unanticipated costs and delays. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. This information speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com.
SOURCE Beleave Inc.