Pursuant to our news release of December 7, 2020, Canbud Distribution Corp. (CSE: CBDX) (FSE: CD0) ( “Canbud”) is pleased to confirm commencement of psychedelics related activity in Jamaica.
The company is pleased to announce that the property is being prepared for Phase 1 in Westmoreland parish, Jamaica. Construction has started on the psilocybin facility which will allow for cultivation and extraction. The plan is to build modular facilities that enable cultivation of psychedelic mushrooms and extraction in the most cost-efficient manner.
Psilocybin is a naturally occurring psychedelic prodrug compound produced by more than 200 species of fungus. As a prodrug, psilocybin is quickly converted by the body to psilocin, which has mind-altering effects. Psilocybin is considered to have extremely low toxicity and a favourable safety profile. As a result, considerable research, development and testing is taking place to enable targeted usage for individuals suffering from anxiety, depression, and PTSD.
Steve Singh, CEO, comments on the importance of the work in Jamaica for local and international exports: “Jamaica provides a favourable regulatory and economic environment to support our endeavours. Psilocybin is showing considerable promise as a therapeutic intervention for neuropsychiatric disorders including depression, anxiety, and addiction. Compelling evidence of the therapeutic benefits of psychedelic drugs appears in multiple scientific studies. It is intended that our Jamaican cultivation and extraction facilities will assist and support valuable research and development in this regard.”
About Canbud Distribution Corp.
Canbud Distribution Corp. is a science and technology health and wellness company that encompasses plant based, psychedelic pharmaceutical and non-psychedelic nutraceutical, and hemp cannabinoids (CBD) verticals.
For further information, please contact:
Robert Tjandra, President and COO
Tel: 1 416 847 7312
Notice Regarding Forward Looking Information
Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Corporation, including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward looking information. The Corporation undertakes no obligation to update forward-looking information except as otherwise may be required by applicable securities law.
NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/73989
News Provided by Newsfile via QuoteMedia
American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.
Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.
Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.
As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).