Cannabis Act Proposals Highlight Radient Technologies' Role in Cannabis Supply Chain
BY MARKETWIRE - CANADA — 6:00 PM ET
EDMONTON, ALBERTA--(Marketwired - Nov. 22, 2017) - Radient Technologies Inc. (RDDTF) ("Radient" or the "Corporation") is pleased to see the progressive nature of Health Canada's proposals in its November 21 publication, "Proposed Approach to the Regulation of Cannabis" (the "Proposals"), and its definition of Radient's (RDDTF) role in a healthy, inclusive market for cannabis products.
Under the Proposals, a "Licensed Processor" class of licenses would be created to permit the extraction, manufacture, and packaging of cannabis derivatives, while mandating "good production practices" around sanitation, analytical testing, and quality assurance. As a GMP-compliant facility, Radient's (RDDTF) Edmonton extraction plant is immediately positioned as a leader in this class.
Furthermore, the proposed structure allows licensed cultivators and licensed sellers as distinctly permitted entities to invest in and focus on their core areas of expertise, while turning to Radient's (RDDTF) high-throughput, high-yield extraction platform for the manufacture and development of derivative products.
Radient (RDDTF) also commends the positive developments under the Proposals for the expansion of hemp production and the extraction of CBD from hemp, for which the high-throughput capability of Radient's (RDDTF) platform is a strong fit. With its cornerstone customer and partner, Aurora Cannabis Inc. ("Aurora"), and Aurora's investment in Hempco Food and Fiber, Radient's (RDDTF) accelerated entry into this valuable market segment is possible.
"Within the Proposals we see validation of Radient's (RDDTF) business model, its partnership with Aurora, and the potential to be a clear leader in a high-value segment of the cannabis supply chain, domestically and internationally," said Mike Cabigon, Director and Chief Operating Officer of Radient (RDDTF). "Moreover, we are proud to be a participant in Canada's cannabis landscape, which is rapidly progressing as an example to the world in terms of governance, growth, and the elimination of the black market."
AI
