Bogota, Colombia–(Newsfile Corp. – November 25, 2021) – Medcolcanna Organics Inc. (NEO: MCCN) (“Medcolcanna“, “MCCN” or the “Company“), a leading Canadian and globally integrated medicinal cannabis company with operations in Colombia, is pleased to announce the execution of a Strategic Alliance Agreement with DNA Genetics, a California based company with over 15 years of experience in bridging the gap to advance genetics in the cannabis industry.
The terms of the agreement will allow Medcolcanna to benefit from the extensive know-how of DNA Genetics in breeding, growing and phenotyping activities, and to use of DNA Genetics’ widely recognized proprietary high-quality strains, brands and name for the commercialization of dried flower world-wide.
MCCN will also be producing under license DNA Genetics seeds to export to its own customers, while the agreement opens a new revenue stream by allowing Medcolcanna to produce seeds on behalf of DNA Genetics for their customers. The agreement also provides for consulting and advice in growing, post-harvesting, processing, and, in general, advice with respect to cannabis cultivation.
This new strategic alliance comes to be part of the cooperation between Medcolcanna and IHF (Industrial Hemp Farms) to create a high -quality low -cost production supply chain in Colombia for the world.
MCCN has already signed with IHF one of the largest hemp flower supply contract publicly known to date and is working with proven and reliable counterparties worldwide to secure sales of THC dried flower.
Comment from MCCN CEO Felipe de la Vega:
“We are very happy to announce this agreement. A special thanks to our business partners at IHF, who have been working with us on this strategy, have brought their expertise and network in the US cannabis Industry and worldwide and share our vision of focusing on producing high quality flower (CBD and THC) at low cost.
“This alliance is an important milestone to our access to countries under negotiation, such as Germany, Poland, the UK and Israel, amongst others.”
Comment from DNA Genetics President Rezwan Khan:
“We’re very excited to announce our partnership with MCCN and expand our footprint in the Colombian market. Through this partnership, we will bring some of DNA’s most unique cannabis genetics to Colombia and have the ability to export our most sought-after strains internationally. We are looking forward to watching our partnership with Medcolcanna thrive in Colombia and countless other markets throughout the globe,”
Medcolcanna is a Canadian vertically integrated medical cannabis company, whose fully licensed operations are based in Colombia.
Led by a proven and successful management team, Medcolcanna has a growing number of facilities in optimal growing locations, which positions the Company to become a global leader in the medical cannabis market.
About DNA Genetics
DNA was rooted in Los Angeles and founded in Amsterdam in 2004 by Don Morris and Aaron Yarkoni. Over the last decade, the Company has built and curated a seasoned genetic library and developed proven standard operating procedures for genetic selection, breeding, and cultivation. In a world that is increasingly opening up to commercial cannabis activity, DNA is positioned to become the first, truly geographically-diversified company with multiple partnerships with top-licensed producers and brands that have built their companies and global presence utilizing the “Powered by DNA” model. For more information, please visit www.dnagenetics.com
Additional information about Medcolcanna can be found on its website at medcolcanna.com.
Medcolcanna Investor Relations Contact: Chris Reid, CFO Carrera 49b # 93-62 Bogota, Colombia
Phone: +571 642-9113 Email: [email protected]
DNA Genetics Media Contact: Kate Pasterkiewicz – Global Corporate Development Associate – DNA Genetics [email protected]
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements“) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release.
Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder or regulatory approvals for any proposed transaction, including those discussed herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release.
Medcolcanna assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105086
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