Geyser Brands LP Begins Upgrades in Anticipation of R&D and Processing Amendments
Health Canada finalizes requirements for licensing of the Company’s Port Coquitlam grow operations
May 16, 2019 – Vancouver, B.C. – Geyser Brands Inc. (TSXV:GYSR) (“Geyser Brands” or the “Company”) is pleased to announce its subsidiary, 0957102 B.C. DBA Apothecary Botanicals (the “LP”), has secured a Health Canada license amendment approval to make amendments to its current 7,000 sq. ft. facility located in Port Coquitlam, BC. Once complete, the expansion would allow for Research and Development (“R&D”) and Processing capabilities in anticipation of receiving its licence amendments. Capital expenditure for the expansions are expected to be minimal and test crops are already complete, having passed both microbial and pesticide analysis. The Company expects the expansion to be completed by the end of June.
The Company anticipates receipt of the R&D licence after completion of the proposed expansion and has submitted an amendment to the R&D licence application to also include a processing licence. The receipt of the licence will be subject to the LP meeting Health Canada’s facility requirements. As previously announced, the Company’s facility was recently audited by Health Canada, which affirmed the LP’s compliance with Health Canada standards. The Company believes that processing will be key to the Company’s long-term strategy in capitalizing in the CBD and THC wellness product markets, which is predicted to be a multibillion-dollar industry.
Future milestones for the Company’s facility is to include mothering and cloning rooms and work with approved seed banks. This will enable the Company to secure high-CBD seed strains with consistent cannabinoid profiles that will provide a reliable and consistent experience for consumers through the Company’s product lines. The focus will be to ensure that there is greater control over the value chain so as to solidify cost efficiencies, which can then be reinvested in continued R&D.
ABOUT GEYSER BRANDS
Geyser Brands Inc builds health-based hemp CBD consumer products in the Nutraceutical, Cosmetics, Food & Beverage and Pet sectors world-wide. R&D investment in NanoFusion, a proprietary all-natural nanotechnology, delivers topical,cream, beverages and baked goods, oil, and tincture formulations with superior bio-availability and water-solubility.
Geyser Brands is a Health Canada approved Licensed Producer (“LP”) in Port Coquitlam, B.C. that holds a cultivation license and is anticipating its processing and sales licenses. The company is exclusively focusing on leveraging these assets to provide the regulatory infrastructure for its global brands and distribution strategy,acquiring hemp- and plant-based brands and infusing them with new CBD product lines in jurisdictions where the therapeutic ingredient is legal. The company’s proprietary NanoFusion technology surrounds oils and solves for the insolubility of CBD. Geyser Brands will utilize its 7,000 sq. ft. licensed facility in British Columbia for the manufacturing and distribution of its hemp and CBD-based products internationally.
For more information, visit the company’s website at www.geyserbrands.com.
On Behalf of the Board of Directors
Director and CEO