Labstat Inc., A Certified Group Company, Highlights Need for Enhanced Cannabis Regulations to Protect Consumers

Encourages Collaboration to Foster Industry Transparency and Reduce Harm Potential

TORONTO, Aug. 2, 2023 /PRNewswire/ -- As Canada approaches the 5^th anniversary of cannabis legalization, Labstat Inc., a leader in tobacco/nicotine, cannabis, hemp and NHP laboratory testing and research & development, underscores the need for more robust regulations and increased research funding to continue leading the way for the international community in this area.

This call comes as Health Canada's Expert Advisory Group is reviewing the Cannabis Act, marking a crucial time for the future of the $4.5 billion cannabis industry. Labstat strongly advocates for the necessity of proper, transparent health information for consumers, a task that requires validated and reliable data that can only come from dedicated research and development.

"Given the substantial tax revenues garnered from the industry, both federal and provincial governments should prioritize funding for comprehensive product research and testing," said Michael Bond, Labstat President. "Our focus is to drive solutions through research and development in partnership with government and industry to improve Canadians' health while facilitating the growth of this industry."

Labstat emphasizes that cannabis is a unique product, valued for its therapeutic benefits and consumed for medical and adult recreational purposes. Therefore, it requires exceptional attention to ensure that it's safe and beneficial to consumers.

"We need stronger collaboration between industry and government to provide transparent health information to consumers," said Bond. "Being the first G7 country to legalize cannabis, we should be at the forefront of understanding the challenges and opportunities that arise from such an initiative. This puts us in an unparalleled position to lead the global conversation on the benefits and risks of cannabis."

Labstat encourages governments to invest in the industry, noting its innovativeness and potential for new product development. By reinforcing the industry's research and development aspect, Labstat believes Canada can enhance its role as a global leader in this field.

About Certified Group

Certified Group is a leading North American provider of laboratory testing, regulatory consulting, and certification & audit services. The Certified Group of companies includes Food Safety Net Services (FSNS), Certified Laboratories, EAS Consulting Group, and Labstat International Inc. Certified Group provides analytical testing and regulatory guidance services in the food & beverage, dietary supplements & NHP, cosmetics, OTC, personal care, tobacco/nicotine, and cannabis/hemp industries. For more information, visit www.labstat.com.

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SOURCE Labstat