Algae Dynamics Corp
(OTCQB: $ADYNF) Announces Memorandum Of Understanding With Company Licenced By
Health Canada To Test, Extract, Purify, Import/ Export And Sell Cannabis Oil
TORONTO, CANADA - March 16, 2017
(Investorideas.com Newswire) ALGAE DYNAMICS CORP (OTCQB:
ADYNF) (the "Company"), a
development stage company focused on the development of unique health products
and pharmaceuticals utilizing cannabis and algae oils, today announced a
memorandum of understanding with Avanti Rx Analytics Inc. ("ARA") to
collaborate on a range of topics as outlined below. ARA is uniquely positioned
to test, extract, develop, produce and supply cannabinoids that can enable and
enhance the delivery and commercial success of medicinal cannabis products. As
such, ARA will play a key role in supplying the University of Waterloo and
Western University with cannabis oil for the previously announced sponsored
research programs, in addition to contributing to the product development and
formulation opportunities that combine the benefits of algae and cannabis oils.
Paul Ramsay, Chairman and
President of the Company said, "This collaboration is a vital piece of our
corporate development strategy. Our relationship with ARA will assist us
immensely in the development of unique products both in the medical cannabis
category, as well as in unique formulations utilizing cannabis and algae oils.
It dove-tails beautifully with our recently announced research relationships
with two universities, and we believe will help fast-track us to revenue."
The key aspects of the strategic
collaboration between the Company and ARA are as follows:
- ARA agrees to test,
formulate, manufacture, and package cannabis and algae based products as
requested and developed by ADC under the current and/or future medical and
recreational cannabis regulations, it being understood that products
containing both cannabis oil and algae oil, or derivatives therefrom, will
be processed exclusively for ADC.
- ARA agrees to
assist ADC to develop marketing channels including but not limited to:
website development and internet promotion, medical doctors, product
distributors, as appropriate and in compliance with the regulatory
requirements.
- ARA agrees to
assist ADC where possible in obtaining regulatory approval for its license
pursuant to the Access to Cannabis for Medical Purposes Regulations
("ACMPR") and licensed recreational products.
- ARA agrees to
assist ADC with market development and product distribution to Health Canada
ACMPR licensed producers.
- ARA agrees to
collaborate with the universities on the sponsored research programs which
ADC has negotiated with the Universities of Waterloo and Western Ontario,
and supply cannabis based materials, according to specifications.
As reported earlier, the Company
is continuing to seek opportunities to partner with or take ownership in
existing Access to Cannabis for Medical Purposes Regulations (ACMPR) licensed
producers to allow for access to the marketplace.
About Avanti Rx Analytics
Avanti Rx Analytics is the first Health Canada GMP and
OCDS approved Contract Organization specializing in the field of controlled
drugs and substances particularly in the area of medicinal cannabis, HEMP,
cannabinoids, and cannabis based concentrated products. Avanti Rx Analytics
Inc. offers a comprehensive menu of services ranging from analytical R&D
and QC testing, cannabis extraction under controlled environment, cannabinoids
purification, cannabis infused-product formulation, and cannabis waste management
by means of material denaturation, as well as the QA and regulatory consulting.
Avanti Rx Analytics, as a Health Canada GMP approved and OCS licensed
organization, does not grow, distribute, nor sell/commercialize cannabis. Our
focus is in the provision of a broad range of sophisticated, state-of-the-art
services to Health Canada approved licensed producers (LPs), authorized
pharmacies, medical practitioners, Health Canada approved patients, government
enforcement and regulatory agencies, and regulatory approved allied cannabis
communities, and to continue to remain at the forefront of the healthcare
industry, building an enviable reputation.
About Algae Dynamics Corp
ADC
is currently engaged in the development of unique health products and
pharmaceuticals that utilize hemp, cannabis and algae oils. This is an
extension of our plan to commercialize our proprietary BioSilo(R) algae
cultivation system for the high volume, low cost production of pure
contaminant-free algae biomass which is high in Omega-3 fatty acids. We have
engaged two Canadian universities to provide research into the use of extracts
from cannabis oil, which we plan to use to develop products that combine the
significant health benefits of Omega-3s derived from algae oil and extracts
from cannabis oil. Our research is focusing on the use of cannabis oil in the
context of cancer, and the use of cannabis derivatives for the development of
novel pharmacotherapies for mental health.
NOTE REGARDING FORWARD-LOOKING STATEMENTS
This
news release contains "forward-looking statements" as that term is
defined in Section 27A of the Securities Act and Section 21E of the Securities
Exchange Act of 1934, as amended. Statements in this press release which are
not purely historical are forward-looking statements and include any statements
regarding beliefs, plans, expectations or intentions regarding the future. Such
forward-looking statements include, among other things, use of proceeds and the
development, costs and results of current or future actions and opportunities
in the sector. Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors include, among
others, the inherent uncertainties associated with new projects and development
stage companies, our ability to raise the additional funding we will need to
continue to pursue our exploration and development program, and our ability to
retain important members of our management team and attract other qualified
personnel. These forward-looking statements are made as of the date of this
news release, and we assume no obligation to update the forward-looking
statements, or to update the reasons why actual results could differ from those
projected in the forward-looking statements. Although we believe that any
beliefs, plans, expectations and intentions contained in this press release are
reasonable, there can be no assurance that any such beliefs, plans, expectations
or intentions will prove to be accurate. Investors should consult all of the
information set forth herein and should also refer to the risk factors
disclosure outlined in our annual report on Form 10-K for the most recent
fiscal year, our quarterly reports on Form 10-Q and other periodic reports
filed from time-to-time with the Securities and Exchange Commission.
FOR MORE INFORMATION, PLEASE CONTACT:
Disclosure:ALGAE DYNAMICS CORP (OTCQB: ADYNF) is a featured company on the 420 Cannabis Investor Ideas
of 2017 at www.420cannabisinvestorideas.com
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