By The Life Science Report
Source: Streetwise Reports 04/03/2019
This represents a major milestone for the firm on its path to commercializing its products.
Sproutly Canada Inc. (SPR:CSE; SRUTF:OTCQB) announced in a news release on April 1 that its subsidiary Toronto Herbal Remedies Inc. received a processing license from Health Canada that allows it to produce cannabis oil and related products and do research and development work, like creating cannabis beverages.
“We are making steady progress towards achieving Sproutly’s mission of delivering a safe and consistent whole plant experience from cannabis, with a lead position in the beverage market. The Processing License grant is a major milestone towards the path to commercializing our cannabis beverages and other edible products. Specifically, for cannabis beverages, we can now continue to advance our formulation work at our own production facility as we prepare for the legalization of cannabis beverages later this year,” Sproutly CEO and Director Keith Dolo said in the release.
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
“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,” Dolo added.
Those efforts, to be done relative to the company’s water soluble cannabinoids, or Infuz2O, include developing the cannabis strains Sproutly intends to use in its beverages and conducting required shelf stability and other testing.
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,