Press Release

 

FOR IMMEDIATE RELEASE
July 30, 2019

CannabCo to deploy PHOENIX, for indoor cannabis production costs of under 50 Cents per gram, an industry first.

BRAMPTON, July 30, 2019 /PRNewswire/ -- CannabCo Pharmaceutical Corp. (CannabCo), a Canadian company located in Brampton, Ontario, is pleased to announce an agreement with an undisclosed technology provider to deploy an advanced cannabis cultivation system, which among many other features, has the ability to produce cannabis at record yields and at a cost of under $.50 per gram indoors, an industry first.  Upon receiving its license from Health Canada, CannabCo will have exclusive rights to deploy the cultivation technology for its Canadian operations.

Dubbed “PHOENIX”, and meant to signify the constant harvesting and rebirth of the plants, the technology company claims the system has been designed to produce a record yield of cannabis in a given space with a greatly reduced cultivation cost over traditional grow methods.  The system has been in development for over 4 years, has a proven track record of cannabis cultivation, and is fully commercially scalable.  “We’ve observed and given input to the evolution of the system over the last 4 years and are constantly amazed at the yield, and consistency of the results” said CannabCo’s Chief Operating Officer, Mark Novak.  “We are proud to have been part of its evolution and are very excited at the prospect of using the technology”.  The tech company has the following claims associated with PHOENIX:

·       Unique to the industry

·       Proprietary aspects to the grow system and technology

·       Raw product cost of cultivation below $.50 CDN per gram of product

·       Repeatable and consistent grow results for each cultivation

·       Product consistency and repeatability for Pharmaceutical grade supply

·       “top shelf” product quality

·       Maximizes pathogen control and crop health

·       Annual yield per linear sq/ft in excess of 1000 grams (estimated at +1500g)

“PHOENIX has a number of advantages over current traditional cultivation methods”, said Novak.  “The market will demand pharma quality inputs and flower free from various pesticides.  Customers always want a top shelf product, this has always been the company’s goal, and PHOENIX has been designed to meet and exceed those expectations”.

“In a race to cultivate, some companies have deployed billions of dollars collectively on cultivation operations which are obsolete before being implemented.  Little attention was given to proper technology specific to cannabis and the ability to cultivate a quality product”, claims Mark Pellicane, CEO of CannabCo, and a featured speaker at ExpoCannabiz 2019.  “Quality has been something sorely lacking from many growers and desperately needed in the Canadian market.  Over the years we’ve seen the grows, and been provided consistent test results from cannabis cultivated using PHOENIX and the results have been stellar in comparison to the control tests both in yield and final quality.  We are ecstatic to have the opportunity to deploy the system once our pilot facility is built out.”

CannabCo is currently raising capital, constructing its pilot facility in Brampton, Ontario, and has received a Confirmation of Readiness notification from Health Canada for their pending cannabis license.  The company intends to deploy PHOENIX, upon completion of licensing by Health Canada followed by implementation in a much larger expansion facility in 2020.  “The deployment of PHOENIX will be disruptive in the industry and lower the bar dramatically for indoor production costs while raising the bar for quality” said Pellicane.

At an average cost significantly lower than greenhouse grown product, and an ability to manage environmental factors within tight tolerance parameters, CannabCo feels it is backing a winning technology as core to its Canadian operations.

To curtail industry skepticism, CannabCo commissioned a top tier third party engineering and compliance firm specific to the cannabis industry, to evaluate the technology on its merits, observe a grow, and produce an independent report on finding.  The results were conclusive, every one of the Tech firm’s, and CannabCo’s claims were verified.

CannabCo maintains exclusive rights to deploy the technology for its Canadian operations and has a right of refusal for license extension to any other cultivator. 

About CannabCo Pharmaceutical Corp.

CannabCo Pharmaceutical Corp. is a Canadian based full service cannabis company with operations in Brampton, Ontario.  The company has received its “Confirmation of Readiness” from Health Canada to become a licensed producer and is currently building out its pilot facility in the Brampton Area.  The company intends to use an enhanced technology known as PHOENIX for its cultivation initiatives claiming a high productivity and significantly lower cost per gram than traditional grows.  The company intends to launch extraction initiatives as well as enter the oils, extracts, and consumable markets upon completion of its Brampton Facility.  The facility is pursuing EU GMP status allowing access to the underserviced global pharmaceutical market.

Forward Looking Statements

This press release may contain certain "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements may be identified by  statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Actual results and developments may differ materially from those contemplated by these statements. Although CannabCo believes that the expectations reflected in forward-looking statements in this press release are reasonable, there can be no assurance that such statements will prove to be accurate. Future events and results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements in this press release.  Comments and claims related to PHOENIX are based solely on that observed and the opinions of management as well as third party verifications provided to CannabCo from industry experts.

 

For further information: 

Phillip Chen, Business Development, (905) 771-8576 x 231, phillip@cannabco.ca, www.cannabco.ca

SOURCE CannabCo Pharmaceutical Corp.