Radient Technologies Inc.
On June 27, 2018, the Cannabis Regulations and the new Industrial Hemp Regulations (collectively, the “Regulations”) were introduced by the Government of Canada, following the June 21, 2018 receipt of Royal Assent for the Cannabis Act. The Regulations outline the rules for the legal cultivation, processing, research, testing, distribution, sale, importation and exportation of cannabis and hemp in Canada, and set standards for cannabis and hemp products that will be available for legal sale once the Cannabis Act comes into force in October 2018.
Radient believes the Regulations are of significant importance to the cannabis and hemp industries in Canada, as well as to the long-term success of the Company.
Of particular interest to Radient, whose ACMPR license application is currently in its final stages of review, under the new Industrial Hemp Regulationsa number of requirements have been eliminated, including criminal record checks for applicants, requirements for secured storage, and the need for third-party sampling for testing. Furthermore, licensed cultivators will be able to sell the flowering heads, leaves, and branches of hemp plants to licensed processors for the purpose of extracting Cannabidiol (“CBD”).
As these developments stimulate larger annual harvests of hemp, Radient, upon receipt of its ACMPR license, becomes uniquely positioned as an industrial-scale processor whose capacity, yield, and throughput can meet the growth in cultivation, and ultimately drive the mass commercialization of novel CBD products derived from both cannabis and hemp.
Furthermore, as a strategic partner of Aurora Cannabis Inc. (“Aurora”) (TSX:ACB) (OTCQB:ACBFF) (Frankfurt:21P; WKN:A1C4WM), which owns a controlling stake in HempCo Food & Fibre, one of the largest industrial hemp producers in the world, Radient expects that its platform will play a key role in the industrial-scale processing of hemp oils containing CBD.
The Company expects that it will receive its ACMPR license from Health Canada before the Cannabis Act comes into force on October 17, 2018. Approval of the ACMPR license will allow the Company to legally process and develop cannabis products at its manufacturing facility and additionally, after the Cannabis Act comes into force, to legally process and develop hemp products.
“We welcome the new regulations and the clarity they provide as we and other stakeholders in the Canadian cannabis market endeavor to allocate capital and resources efficiently and effectively,” said Mike Cabigon, Chief Operating Officer of Radient. “With this clarity, we will continue to invest in the infrastructure, technology, and expertise to solidify a leadership position in the CBD value chain.”
About Radient
Radient extracts natural compounds from a range of biological materials using microwave assisted processing (“MAP™”), a patented technology platform which provides superior customer outcomes in terms of ingredient purity, yield, and cost. From its 23,000 square foot manufacturing plant in Edmonton, Alberta, Radient serves market leaders in industries that include pharmaceutical, food, beverage, natural health and personal care markets. Since 2016, Radient has expanded its offerings to enter the cannabinoids market utilizing its MAP™ platform to process and extract cannabinoids including cannabidiol and tetrahydrocannabinol from cannabis biomass. Visit www.radientinc.com?for more information.
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