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Thursday, November 15, 2012 10:42:52 PM
Operating highlights of the quarter were as follows:
Completed the integration of Dixie Elixirs & Edibles brand. Developed and launched the Dixie X, Hemp based CBD wellness products. Dixie X is now available for purchase online. The company has completed its wholesale product launch for the specialty cannabis and hemp retail markets in the US.
Launched Dixie X compassion care club.
Successfully planted and harvested its hemp crops for the production of its high value hemp CBD oil.
PhytoSPHERE Systems sold its first batch of commercialized hemp CBD Oil.
Expanded PhytoSPHERE systems production capabilities to meet 2013 supply demands for its CBD hemp oil.
Identified and developed additional cultivars to expand portfolio of high value hemp oils for deployment in 2013.
Completed integration of CanCHEW Bio-Technologies.
Produced CanCHEW Bio-Technologies first batch of marketable GMP manufactured CBD based over-the-counter (OTC) functional chewing gum.
CanCHEW Bio-Technologies identified European clinical development path for its patented cannabinoid based functional chewing gum. European clinical trials expected to begin 2013.
Formed Canipa Holdings, for European product expansion.
Identified several potential acquisition and investment opportunities in established cannabis and hemp based businesses.
Signed closing docs for Lotus Capital $2.0 million line of credit.
Negotiated additional $15.0 million institutional line of credit.
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