Auxly Acquires Exclusive Global Rights to Omega-Rich Ahiflower® Seed Oil for Use in Cannabis Products
TORONTO, April 08, 2020 (GLOBE NEWSWIRE) -- Auxly Cannabis Group Inc. (TSX.V - XLY) ("Auxly" or the “Company”), a leading consumer packaged goods company in the derivative cannabis market, is pleased to announce that its wholly owned subsidiary Dosecann LD Inc. (“Dosecann”) has entered into an agreement with Natures Crops International (“Natures Crops”), a vertically integrated grower and manufacturer of plant-based specialty oils, pursuant to which the Company will purchase the exclusive global rights to Ahiflower® oil for use in Auxly’s diverse portfolio of cannabis products. This multi-year deal will provide Auxly with a proprietary ingredient for use in its current portfolio of cannabis products and the development of next generation cannabis health products that Auxly will commercialize when legally permitted.
“Auxly is committed to bringing innovative and differentiated cannabis products to consumers and this agreement provides our incredible team of scientists with a vegan, complete and balanced omega-rich proprietary ingredient with which to develop exciting products specifically targeted for the wellness consumer segment,” said Hugo Alves, Chief Executive Officer, Auxly.
Ahiflower starts as a non-GMO oilseed crop grown exclusively in the United Kingdom by Natures Crops. After harvesting the Ahiflower seeds, they are cold pressed to produce a crude oil that is exported to Canada where it is further refined into Ahiflower oil at the Natures Crops facility in Kensington, PEI. Ahiflower is a sustainable and traceable vegan polyunsaturated omega 3-6-9 oil, providing an ecologically-sound alternative to fish oils – each acre of Ahiflower produces as much omega-rich oil as 320,000 anchovies. Ahiflower oil contains more combined omegas than other natural plant or seed oils and contains a combination of the elements found in fish, evening primrose, olive, and flax seed oils. “Consumers seeking the utmost in excellence, freshness and traceability in Canadian, science-backed cannabis solutions will find Dosecann’s products compelling,” said Greg Cumberford, VP Science & Regulatory, Natures Crops.
Bob Chapman, Chief Science Officer at Dosecann, added: “Ahiflower oil provides a rich spectrum of naturally occurring omega 3-6-9 fatty acids to complement our cannabinoids, and we look forward to collaborating with the talented team at Natures Crops on research and development for novel cannabis-based solutions to meet consumers’ wellness needs.”
Ahiflower oil is a proprietary, licensed ingredient. In Canada, Ahiflower oil is a registered natural health product and non-GMO certified. It has been approved as a novel food in the European Union and has cleared FDA review status without objection in the United States.
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