Radient Technologies (TSXV:RTI) announced it received approval from Health Canada regarding its application for a Controlled Drugs and Substances Licence.
As quoted in the press release:
Pursuant to provisions of the Controlled Drugs and Substances Act and its Regulations, receipt of the Controlled Drugs and Substances Licence grants Radient the status of a Licensed Dealer within Canada. The license legally permits the Company to possess, package, and transport or deliver cannabis products at its process and product development laboratory, located at 8223 Roper Road, Edmonton, Alberta.
Within these provisions, Radient can conduct research and develop products related to cannabis, tetrahydrocannabinol (“THC”), cannabidiol (“CBD”), and cannabis resin at its Roper Road facility, while further optimizing its proprietary extraction assets and methods in the commercial-scale production of cannabis-based extracts.
Radient is also awaiting approval of its application to Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR) for a license which would allow the Company to produce and manufacture cannabis extracts and oils. The Company hopes to receive its ACMPR license shortly after the previously announced renovations of its manufacturing plant have been completed.