Experion Biotechnologies Inc. Receives License to Sell
August 20, 2018 — Viridium Pacific Group Ltd. (“Viridium” or the “Company”) (TSXV: VIR) (OTCPink: VIRFF) is pleased to announce that its wholly owned subsidiary, Experion Biotechnologies Inc. (“Experion”), has received its sales license from Health Canada pursuant to the Access to Cannabis for Medical Purposes Regulations (“ACMPR”).
The sales license is the product of continuous and focused work since Experion received its License to Produce on August 18, 2017. Receipt of the sales license makes Experion only the 62nd of 115 Licensed Producers (“LP” or “LPs”) that are approved to distribute medical marijuana. This milestone was reached through the collaborative efforts of Health Canada, Experion’s operational team, various third-party partners and suppliers, and the management and Board of Viridium.
“We are thrilled to have received our License to Sell,” commented Jarrett Malnarich, Chief Executive Officer of Viridium. “Our team has stayed focused and diligent over the past year on the way to this critical milestone. Experion was one of 22 companies to be approved as a LP by Health Canada in 2017, and we are proud to now say that we are one of a handful receiving a sales license before the Cannabis Act takes effect.” Mr. Malnarich continued, “Now that we have our sales license in hand, we’ll be moving forward aggressively with commercialization efforts alongside our on-site expansion.”
With receipt of the License to Sell, Experion is now authorized to distribute medical marijuana in dried flower format to other Licensed Producers and similarly licensed entities, as well as export, on a wholesale basis. Furthermore, it allows Experion to move forward with supply agreements for its existing and upcoming inventory and generate revenue. Experion continues to engage in discussions with prospective wholesale buyers and provincial distributors for immediate supply.
Bob Howard and Sean MacNeil, founders of Experion, further commented, “We see this as the Company’s most significant milestone to date. The development over the last five years from a concept to a dynamic young company brings us immense pride in the people on the ground and clear direction in our future. The next steps that Viridium takes will be even more exciting and continue to build off the foundation of great decisions that have already been laid.”
Viridium Pacific Group Ltd. is a consumer wellness and biotech innovation company based in British Columbia, and the parent company of operating subsidiaries involved in horticultural production, (Experion Biotechologies Inc.) property development (Fish Trap Ventures Ltd.), and human resource management (Stave Lake Services Ltd.) Experion Biotechnologies Inc., is a Health Canada licensed producer of cannabis, which operates in an 8,300 square-foot indoor facility outside of Mission, BC.
More information about Viridium can be found under the Company’s profile on SEDAR at www.sedar.com.
This press release contains forward-looking information within the meaning of Canadian securities laws. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.
Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, forecast, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Company’s equity securities; recent market volatility; the Company’s ability to raise the necessary capital or to be fully able to implement its business strategies; the risks identified in the Filing Statement, and other risks and factors that the Company is unaware of at this time. The reader is referred to the Filing Statement dated September 25, 2017 and/or the most recent annual and interim Management’s Discussion and Analysis for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through the Company page on SEDAR at www.sedar.com.