NEW YORK, NY--(Marketwired - Jul 18, 2017) - NetworkNewsWire ("NNW"), a multifaceted financial news and publishing company that delivers a new generation of social communication solutions for business, today announces the online availability of its interview with Algae Dynamics Corp. (
The interview can be heard at https://www.networknewswire.com/solutions/cor...interview/
Kicking off the interview, NNW's Stuart Smith introduces Algae Dynamics Chairman and President Paul Ramsay, who provides insight into the company's operational focus on the development of unique health products and pharmaceuticals utilizing cannabis, hemp and algae oils.
"We're working with cannabis in isolation, but we are also formulating different combinations of algae mixed with cannabis oils," he explains. "It's quite an interesting program and quite exciting given the health benefits."
Research for these formulations is conducted via multi-year partnerships with the University of Waterloo and the University of Western Ontario, which are focused on the application of cannabis oil for cancer and mental health issues, respectively. As noted later in the interview, Algae Dynamics has committed to a combined contribution of $1.6 million in the collaborations, and will retain all patents from the agreement without royalties.
Ramsay next describes two ways in the Company plans to become the No. 1 cannabis oil product formulator, leveraging its expertise in algae oil extraction.
"We're doing this because we have a lot of background with algae oil extraction," he says. "We have a lot of expertise, and we are rolling that into the cannabis oil extraction field. We are also combining the algae and the cannabis oil because it enhances the efficacy of treatment of the benefit of cannabis oils. There [is] a lot of research done, and we think [our team] will make some big strides in that area."
The interview also highlights the experience of key members of the Algae Dynamics' management team, and concludes with milestones the Company expects to achieve in 2017. In addition to signing supply service and sales agreements with several licensed producers, Algae Dynamics plans to select a location for its cannabis oil extraction production facility and gear up for an expected increase in cannabis demand in Canada.
"We're going to apply for a Health Canada license to extract oil, and produce, sell and import/export for medical and eventually recreational cannabis, [which is] going to be legalized, per the prime minister of Canada, by July 1, 2018. So, there is going to be a huge ramp-up of demand," Ramsay says in conclusion.
About Algae Dynamics Algae Dynamics is engaged in the development of unique health products and pharmaceuticals that utilize hemp, cannabis and algae oils. To assist in this development, Algae Dynamics engaged two Canadian universities to provide research, focusing on the use of cannabis oil in the context of cancer and the use of cannabis derivatives for the development of novel pharmacotherapies for mental health. Algae Dynamics intends to utilize this research to develop products that combine the significant health benefits of Omega-3 fatty acids derived from algae oil with extracts from cannabis oil for the rapidly growing medical and non-medical markets in Canada and globally. The company has developed strategic relationships with licensed producers of cannabis to ensure a source of cannabis oil. Algae Dynamics' product development efforts are designed in the near-term for over-the-counter nutraceuticals, and in the longer-term for patented medicines. The company's recent initiatives are an extension of its previous plan, which was focused solely on commercialization of its proprietary BioSilo® algae cultivation system for the high volume, low cost production of pure contaminant-free algae biomass which is high in Omega-3 fatty acids.
For more information, visit the company's website at http://www.algaedynamics.com
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Forward-Looking Statements This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
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