TORONTO, Jan. 24, 2018 /CNW/ - Nuuvera Inc. ("Nuuvera")
(TSXV:NUU), is pleased to announce that it has signed a Letter of
Intent ("LOI") with Medalchemy S.L. ("Medalchemy") to acquire
a majority interest in its fully-licensed, GMP certified laboratory
located in Alicante, Spain.
Medalchemy's laboratory, located on the premises of the
University of Alicante, has a decade of experience in the
production and extraction of active pharmaceutical ingredients
("APIs").
Nuuvera has also signed an LOI with Canamo y Fibra Naturales,
S.L. ("CAFINA"), also based in Alicante.
Nuuvera will acquire a 30% interest in CAFINA, and intends to
purchase cultivated cannabis products from the company as well as
hemp to be used in CBD extraction. Nuuvera and CAFINA will also
enter into a JV agreement, whereby CAFINA will have a minority
interest in the Nuuvera's subsidiary that controls Medalchemy.
"These anticipated investments will greatly enhance Nuuvera's
operational capacity to produce premium quality cannabis products,
and our ability to supply the European market with medicinal
cannabis," said Lorne Abony, Chief
Executive Officer of Nuuvera.
Nuuvera expects to announce a Final Agreement with both parties
in the very near future.
"We have quickly established Nuuvera as a strong presence in the
European and international medical cannabis market, with a presence
in Germany, Italy and now Spain", said Abony . "Europe comprises hundreds of millions of
potential patients and consumers and also adheres to the highest
grow and production standards. Our engagement in Europe complements Nuuvera's market presence
in Canada."
About Nuuvera
Nuuvera is a global cannabis company founded on Canadian
principles, and built with the whole world in mind. Nuuvera is
currently working with partners in Germany, Israel and Italy, and is exploring opportunities in
several other countries, to develop commercial production and
global distribution of medical grade cannabis in legalized markets.
Through its subsidiaries, ARA – Avanti Rx Analytics Inc. and Avalon
Pharmaceutical Inc., Nuuvera holds a Dealer License (GMP) under the
Narcotic Control Regulations and Office of Controlled Substances.
Nuuvera is currently in the final stages of the Health Canada
review process to become a Licensed Producer of medical marijuana
under the ACMPR, and has recently received its "letter to build"
approval.
For more information on Nuuvera, please visit:
www.nuuvera.com
Notice regarding forward-looking statements:
This release includes forward-looking statements regarding
Nuuvera and its business. Often, but not always, forward-looking
statements can be identified by the use of words such as "plans",
"is expected", "expects", "scheduled", "intends", "contemplates",
"anticipates", "believes", "proposes" or variations (including
negative variations) of such words and phrases, or state that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved. Such statements are based
on the current expectations of the management of Nuuvera. The
forward-looking events and circumstances discussed in this release
may not occur by certain specified dates or at all and could differ
materially as a result of known and unknown risk factors and
uncertainties affecting Nuuvera, including risks regarding the
cannabis industry, failure to obtain regulatory approvals, economic
factors, the equity markets generally and risks associated with
growth and competition. Although Nuuvera has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results to differ from those anticipated,
estimated or intended. No forward-looking statement can be
guaranteed. Except as required by applicable securities laws,
forward-looking statements speak only as of the date on which they
are made Nuuvera undertakes no obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future events, or otherwise.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. The TSX Venture Exchange has in no way
passed upon the merits of the transaction and has neither approved
nor disapproved the content of this press release.
SOURCE Nuuvera Inc.