Toronto, Ontario--(Newsfile Corp. - May 28, 2021) - Glow LifeTech Corp. (CSE: GLOW) (FSE: 9DO) ("Glow" or the "Company"), a biotech innovator producing next-generation, science-backed natural ingredients, is pleased to report that the Company has commenced the build-out and commissioning of licensed processing space ("Processing Space") to bring a suite of fast-acting, high-absorption, water-soluble cannabis-based ingredients to the Canadian market. The Processing Space is licensed for the processing and sale of cannabis under the Canadian Cannabis Act.
Glow's MyCell® technology is a proprietary plant-based delivery system developed in Switzerland which dramatically improves the absorption, bioavailability and effectiveness of natural active compounds including cannabinoids, vitamins, botanicals and more. The Company has secured the processing space by way of a long term engagement with a licensed facility that provides Glow the necessary production capacity and operational support to supply Canada nationally, across both adult-use and medical markets. Initial MyCell® ingredients include THC, CBD, CBN, isolates and cannabis derived terpenes at the facility.
"We are very excited to bring the MyCell® enhanced cannabis products to the Canadian market at a time when the industry is so quickly evolving towards differentiated, value-added, and science-backed products like ours," said Rob Carducci, Chief Commercial Officer, Glow LifeTech Corp. "Our proprietary delivery technology allows us to develop a broad portfolio of high-performance, scientifically-validated natural ingredients, the diversity of which has been demonstrated by phase II trials for COVID-19 and successful products like CBD, Curcumin and hybrids in the European market."
Under the terms of the Agreement, Glow has a dedicated Processing Space within a fully licensed facility located in Toronto, Ontario, to process, package and distribute cannabis-based concentrates, all in compliance with applicable laws and regulations. The construction, build-out and procurement of all critical processing equipment has commenced which will enable the Company to immediately develop cannabis-based products for the sale across Canada. With its proprietary technology, this Collaboration Agreement provides Glow the necessary production capacity to supply Canada nationally, across both adult-use and medical markets.
"Our asset-light operational footprint is a critical part of our business model as we focus on building consistent, efficient operations to meet the needs of today and allow us to scale growth for the future," said Tom Glawdel, Chief Operating Officer, Glow LifeTech. "Our lean approach to infrastructure enables Glow to continue investment into important value-building initiatives like scientific research and product development across a spectrum of natural products."
MyCell® technology is Glow's proprietary plant-based delivery system which dramatically improves the absorption, bioavailability and effectiveness of natural active compounds including cannabinoids, vitamins, botanicals and more. It transforms poorly absorbed natural compounds into clear, water-compatible concentrates that have fast-acting onset, high-absorption and precision dosing, and uses only plant-based ingredients to avoid unpleasant, bitter tastes of synthetic ingredients. The versatility of MyCell® enhanced concentrates allows them to power a variety of product formats including: droppers, beverages, foods, topicals, and capsules.
The Company announces that it has granted an aggregate of 210,000 options to purchase common shares of the Company at today's closing price and expiring five (5) years from the date of grant, to certain officers, directors and consultants of the Company.
Recent News
The Company recently announced the submission of an application to Health Canada for the ArtemiC Natural Health Product Following Successful COVID-19 Phase II Clinical Trial.
Full Story Here: https://www.glowlifetech.com/news-blog/fngjjx3gpmy04139qpoyo4jo5xhrit
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About Glow LifeTech Corp.
Glow LifeTech is a Canadian-based biotechnology company focused on producing nutraceutical and cannabinoid-based products with dramatically enhanced bioavailability, absorption and effectiveness. Glow has North American rights to the groundbreaking, plant-based MyCell Technology® delivery system, which transforms poorly absorbed natural compounds into enhanced water-compatible concentrates that unlock the full healing potential of the valuable compounds.
Website: www.glowlifetech.com
Contact:
W. Clark Kent
CEO
Glow LifeTech Corp.
1-855-442-4569
ir@glowlifetech.com
Bernhard Langer
EU Investor Relations
+49 (0) 177 774 2314
blanger@glowlifetech.com
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for the technology described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com.
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