- Sproutly
Canada is building its operations to take advantage of the expected
legalization of cannabis-infused edible and beverage products
- Health
Canada recently awarded Sproutly’s wholly owned subsidiary, Toronto Herbal
Remedies, a processing license to advance its beverage-production strategy
- Deloitte
analysts foresee cannabis-infused beverages capturing market revenues
between $900 million and $4.4 billion by 2024
- Sproutly
touts unique aspects of its patent-pending, water-soluble cannabis oils
for quick assimilation by the human physique and effective recreational
use
Sproutly Canada Inc. (OTCQB: SRUTF) (CSE: SPR) (FRA: 38G) recently
achieved a “major milestone” as it continues to build its operations in
preparation for Canada’s legalization of cannabis-infused edibles and
beverages, which is anticipated to occur later this year as a follow-up to the
opening of legal cannabis markets for adult recreational use last fall.
Sproutly announced on April 1 that its wholly owned subsidiary,
Toronto Herbal Remedies Inc. (“THR”), was granted a processing license from
Health Canada that allows THR to produce cannabis oil and related
products (http://ibn.fm/PB7Kk).
Toronto Herbal Remedies was already a licensed producer under the country’s
Cannabis Act, and the new license sets the stage for Sproutly’s plans to become
a “world-class cannabis beverage and infused product company,” specifically in
an attempt to establish an alternative to alcoholic beers (http://ibn.fm/RTrLb).
“For cannabis beverages, we can now continue to advance our
formulation work at our own production facility,” Sproutly CEO and Director
Keith Dolo stated in a news release. “Our plan is to deliver cannabis beverages
that will not only look and taste great, but also where consumers will feel the
cannabis effects within five minutes and dissipate within 90 minutes. With
Infuz2O’s fast onset and fast offset characteristics, the experience is more
similar to drinking a beer, compared to traditional cannabis oils that have an
unpredictable, multi-hour experience.”
THR has already completed a large amount of work toward a
formulation for a CBD-infused beverage line utilizing the company’s Infuz2O
proprietary, naturally produced, water-soluble cannabinoids.
“With the grant of our Processing License, we can extend
formulation development work with the cannabis strains which we plan on
utilizing in our cannabis beverages in Canada,” Chief Science Officer and
Director Dr. Arup Sen added. “It also allows us to perform the required
shelf-stability and other necessary testing to be ready for the legalization of
cannabis beverages later this year.”
Sproutly is also preparing to commercialize edible products
containing its Bio Natural Oils, Sen said. The company’s Bio Natural Oils
deliver a full-spectrum of cannabinoids and terpenes of the strains from which
they are made.
“We developed and have, a patent-pending process that is
unique in that we are able to find and recover naturally water-soluble forms of
these oils, kind of like cholesterol in our blood, the good and bad
cholesterol, not free cholesterol or free oils,” Sen told Investor
Ideas (http://ibn.fm/gBzzs).
“They are water soluble; that’s why they flow through the blood. With that
discovery we embarked on a path of founding Infusion Biosciences, developed the
technology further and were able to show that we could recover commercially
feasible amounts of these unique naturally water-soluble forms of the entire
plant/cannabinoid/terpene profile.”
Sproutly also announced, on March 28, that it is negotiating
with a beverage company regarding a potential partnership to jointly develop
and market cannabis-infused beverages, in response to a request from the
Investment Industry Regulatory Organization of Canada (“IIROC”) following
questions about recent trading activity in the company’s stock (http://ibn.fm/9YQy2).
Analysts at Deloitte believe that the cannabis-infused
beverages market will climb to somewhere between $900 million and $4.4 billion
by 2024, depending on the percentage of the market it captures (http://ibn.fm/OPuRH).
For more information, visit the company’s website at www.Sproutly.ca
NOTE TO INVESTORS: The latest news and updates
relating to SRUTF are available in the company’s newsroom athttp://ibn.fm/SRUTF
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