Health Canada licensing documentation in preparation; production to start in next 90 days
VANCOUVER, Nov. 25, 2019 /PRNewswire/ - Pivot Pharmaceuticals Inc. ("Pivot") (CSE: PVOT/OTCQB: PVOTF/ FRA: NPAT) today announced the launch of its manufacturing facility in Dollard-des-Ormeaux, Quebec, Canada. Along with R&D and pilot-scale laboratories, this facility is comprised of 43 000 square feet of production and packaging space designed to optimize the manufacturing processes of Pivot branded value-added CBD and nutraceutical consumer products. The production activities are planned to start in the next three months, pending Health Canada license reception.
Pivot is nearing the completion of its state-of-the-art building and is preparing the submission of its site evidence package to Health Canada, the final step toward securing the Health Canada license. The infrastructure will be dedicated to the development of novel formulations and production of Pivot's CBD, phytocannabinoid and micronutrient product lines using Pivot's patented and proprietary drug delivery technologies.
"We're delighted to see our Canada-based Dollard-des-Ormeaux facility coming online, adding to our capacity to produce and deliver our world class value-added CBD and nutraceutical micronutrient formulations in the U.S., Europe and Canada," said Dr. Toni Rinow, CEO of Pivot. "This facility will enable us to launch our product pipeline in the Canadian market and thus further consolidating Pivot's strategic positioning with ramping sales of specialty CBD products and micronutrient formulations in Germany and planed product launches in the U.S. marketplace in Q1 2020."
About Pivot Pharmaceuticals Inc.
Pivot Pharmaceuticals Inc. is a science-based innovative medical wellness company aspiring to offer high quality preventive and self-care solutions to its customers. Pivot has developed pharmaceutical grade products including CBD, phytocannabinoid and micronutrient derived formulations utilizing proprietary drug delivery technologies that are unique, patent protected and with clear superior benefits to the user such as high absorption, low bioburden and ease of use. Pivot is uniquely positioned to execute on its brand leader strategy in its main markets in Germany, US and Canada.
Please visit www.pivotpharma.com for more information
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Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as anticipate, believe, estimate, expect, intend, and similar expressions, as they relate to Pivot Pharmaceuticals Inc., Pivot Green Stream Health Solutions Inc., Pivot Naturals, LLC, or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, such as the failure to meet the conditions imposed by the CSE or other securities regulators, the level of business and consumer spending, the amount of sales of Pivot's products, statements with respect to internal expectations, the competitive environment within the industry, the ability of Pivot to continue to expand its operations, the level of costs incurred in connection with Pivot's expansion efforts, economic conditions in the industry, and the financial strength of Pivot's customers and suppliers. Pivot does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.
SOURCE Pivot Pharmaceuticals Inc.