TORONTO--(BUSINESS WIRE)--Hempsana Holdings Ltd. (the “Company” or “Hempsana”) is excited to announce the company has signed a processing agreement with Lune Rise Farms Inc. to process 409 KG of cannabis for full spectrum THC distillate for revenue of up to CAD $200,000.
On July 16, 2021, the Company signed the processing agreement to process cannabis and produce full spectrum THC, with production to begin immediately at the Hempsana’s 8,000 sq foot state-of-the-art EU-GMP and GPP compliant facility located in Goderich Ontario.
“The Company has been focused on delivering world-class processing services to cannabis industry participants ranging from high quality craft cannabis growers to large-scaled cannabis growers, and this agreement confirms our ability to be a trusted solution for high-quality cannabis extraction. As we continue to execute on our sales strategy and become a ‘household name’ in the cannabis community, we anticipate momentum to grow as we successfully deliver to our clients,” said Randy Ko, Chief Executive Officer of the Company.
About Lune Rise Farms Ltd.
Lune Rise Farms Inc. is Heath Canada Licensed cannabis cultivator located in Teeswater, Ontario. The company has 70 acres of cultivation land, on which six strains have been diligently crafted to produce high-quality organic cannabis.
About Hempsana Holdings Ltd.
The Company’s business involves the manufacturing cannabis derivatives and producing cannabis extracts for use in finished products, including vapeables, topical creams and infused consumables. Hempsana’s Health Canada Standard Processing Licensed, and EU-GMP compliant facility provides the Company with access to wholesale and retail channels in Canada and internationally.
The securities set forth herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
This press release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the business and operations of the Company. The forward-looking statements and information are based on certain key expectations and assumptions made by management, including expectations and assumptions concerning the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information. There can be no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, general economic conditions and the state of the regulatory environment. Please refer to the Company’s public record on SEDAR at www.sedar.com for more details on the risks faced by the Company. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward- looking information for anything other than its intended purpose. Management of the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.