Radient Technologies Inc. (TSX-V:RTI) is pleased to announce that its application for the Controlled Drugs and Substances License has been approved by Health Canada.
Pursuant to provisions of the Controlled Drugs and Substances Act and its Regulations, receipt of the Controlled Drugs and Substances License 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 licence 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.
“The receipt of the Controlled Drugs and Substances Licence is a key milestone for Radient that will further accelerate the growth of our business within the cannabis sector,” said Denis Taschuk, CEO of Radient. “It is also a precursor step in the path to licensed manufacturing of cannabis products, which we expect to occur later this year. As a certified Licensed Dealer, Radient can drive strategic partnerships and product development with Licensed Producers, and potentially, consumer brands entering the cannabis and CBD spaces.”
Dr. Steven Splinter, CTO of Radient added, “We are thrilled to announce this news as it is a major catalyst to technology developments that will enhance our position as an industrial-scale player in the cannabis value chain.”
For more information about the Controlled Drugs and Substances Licence, please contact Health Canada’s Office of Controlled Substances.
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 20,000 square foot manufacturing plant in Edmonton, Alberta, Radient serves market leaders in industries that include pharmaceutical, food, beverage, natural health and personal care markets. Visit www.radientinc.com?for more information.
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