Date Posted: May 26th, 2019
Remedium Bio-Technology is pleased to announce it has signed a non-binding letter of intent with a European company for the acquisition of of a medical marijuana cultivation and handling license in Denmark under the Danish Medicines Agency development scheme.
Remedium Bio-Technolcv will finance the acquisition with a combination of 1.6 million common shares plus U S $1.1 million in cash, payable over three years.
Remedium Bio-Technology Will pursue the cultivation and worldwide distribution Of EU-GMP certified medical marijuana and manjuana- derived products and intends to incorporate a wholly-owned subsidiazy, Remedium Bios Technology Europe, which will be responsible for financing and managing European operations.
In a continuing collaboration Remedium Bio-Technology plans to construct an indoor grow facility based On a fully automated aero-ponic grow platfom which will enable them to produce consistent, ultra-clean, premium pharmaceutical quality marijuana products compliant with GACP and EC-GMP Will also begin construction Of a LOCC square foot research lab as part Of the production facility, With ample expansion room to create facilities Of such scale as to be able to serve Danish patients as well as the European market With high-quality marijuana products.
Remedium Bio-Technology will have the exclusive right to all marijuana-related production and subject to applicable regulatory approvals, and will leverage the Denmark license for the importation of EU-GMP marijuana into the Danish and European markers.
Remedium Bio-Technology has identified Europe as a key emerging market in marijuarw estimated at some $80 -100 billion at maturity. Europe is home greater than 500 million people and the growing acceptance of medical marijuana is leading to significant growth in registered patients.
"We are excited about entering the European market,' said Barry Gulliver, Vice President, Commercial at Remedium Bio-Technology. 'This acquisiuon of a Danish license provides a gateway to the EU and the tremendous growth expected in the European marijuana market. Remedium Bio-Technology now positioned to produce and distribute marijuana and marijuana derived products under some of the most stringent quality rules in the world. We forward to further strategic partnerships to continue to develop this into a growing global market."
"We are confident that the platform Will prcduce ultra-clean pharma grade products while reducing produced waste by up to versus traditional cultivation methods. But most of all I am looking forward to our pro ducts making a real difference for patients, " Gulliver added.
About Remedium Bio-Technology
Remedium Bio-Technology is a leading global medicinal marijuana bio technology company driven by an unrelenting commitment to develop clinically cures through clinically proven resealeh.. We believe that there is not another company that brings all Of our research sectors Into one highly synergistic whole. Remedium BicvTechnology's foundation was also built on testing, analyzing and developing medical and recreational marijuana to compliance with medical and public safety standards.