By The Life Science Report
Source: Streetwise Reports 02/17/2019
The firm also makes progress in obtaining technology rights and various licenses.
Recent accomplishments include acquisition of the exclusive rights in specific jurisdictions to Infusion Biosciences’ APP technology, which allows for the recovery of water-soluble cannabinoids and oils from the plant. Sproutly is currently developing brand and partnership strategies for that technology.
Get our Weekly Commitment of Traders Report: - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
The company completed two successful harvests of “high-quality, small-batch” cannabis, a product for which it is working on a brand strategy, at its state-of-the-art Toronto Herbal Remedies (THR) production facility.
The company noted the “results from the harvest were much better than the company’s internal production expectations. The company is hoping to achieve the same production results across all 12 of THR’s flowering rooms in its full-scale production; in the event that this is achieved, the total production capacity at THR will increase materially.”
“This is an important milestone for the company as it looks to ramp up production and shift into sales and extraction as licensing is granted,” the release noted.
Sproutly expects to introduce plants into an additional 10 grow rooms in the next few weeks. It noted it is on track to meet its 2019 production targets.
The firm is now licensed to sell cannabis in Canada to other licensed producers and has the appropriate license amendments in place to use the remaining 16,600 square feet of its Toronto facility for growing and cultivating plants. Expansion of Sproutly’s license from Health Canada to produce cannabis oil is pending.
“Sproutly continues to make substantial progress towards its goal of becoming a global cannabis beverage and edibles company,” the company noted.
Read what other experts are saying about:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Sproutly Canada. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Sproutly Canada. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Sproutly Canada, a company mentioned in this article.
( Companies Mentioned: SPR:CSE;SRUTF:OTCQB,