Digipath Obtains Health Canada R&D License for Cannabis Strain Development and Sales
License Comes Via Recent Acquisition of VSSL Enterprises Ltd.
(OTCQB: DIGP) (“DIGP” or the “Company”), a leading independent analytical testing laboratory, data analytics and technology firm focused on the cannabis and hemp markets, is pleased to report that it has received a Research and Development license to cultivate cannabis via an approval provided by Health Canada to the Company’s recently acquired VSSL Enterprises Ltd.
VSSL’s management team, including Kyle Remenda and Dr. Philippe Henry have joined Digipath’s management team as CEO and Chief Technology Officer, respectively.
The Research and Development (R&D) license will enable the Company to cultivate cannabis at three field sites with 2,000 plants at a time per site, and one lab where the genetics can be grown via tissue culture. Digipath will use the R&D license to focus on stabilizing prized elite genetics and developing novel cannabis genetics using a combination of standard breeding and biotech tools. Once the Company has developed something novel, characterized imported seeds, or improved on existing genetics, the Company can apply to Health Canada for a sales amendment to sell the product of its R&D in legal markets.
“We are pleased to have secured the permission from Health Canada and to expand Digipath’s efforts internationally,” stated Kyle Remenda, CEO, Digipath, Inc. “We can combine the experience and knowledge bases of VSSL and Digipath to pursue the opportunity with greater vigor and to greatly expand future opportunities for the Company and to the benefit of its shareholders.”
“I would also like to remind our shareholders that we continue to support the Nevada cannabis industry with testing and quality control as they are permitted to sell via delivery services through Nevada’s temporary shutdown of non-essential businesses,” added Remenda.
About Digipath, Inc. (OTCQB: DIGP)
., supports the cannabis industry’s best practices for reliable testing, data acquisition, and new canna-tech for the cannabis industry.
provides pharmaceutical-grade analysis and testing to the cannabis industry to ensure producers, consumers and patients know exactly what is in the cannabis they ingest and to help maximize the quality of its client’s products through analysis, research, development, and standardization.
is a provider of agritech consulting solutions in the areas of genetics, tissue culture, cultivation, analytical testing and predictive tools.
Information about Forward-Looking Statements
This press release contains “forward-looking statements” that include information relating to future events. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in, or suggested by, the forward-looking statements. Important factors that could cause these differences include, but are not limited to: the Company's need for additional funding, the demand for the Company's products, governmental regulation of the cannabis industry, the Company's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company's liquidity and financial strength to support its growth, and other risks that may be detailed from time-to-time in the Company's filings with the United States Securities and Exchange Commission. For a more detailed description of the risk factors and uncertainties affecting Digipath, please refer to the Company's recent Securities and Exchange Commission filings, which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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