Vancouver, British Columbia - TheNewswire - March 22, 2022 - Gaia Grow Corp. (the “Company” or “Gaia”) (CSE:GAIA) (CNSX:GAIA.CN) (Frankfurt:GG0) is excited to announce that its wholly-owned subsidiary, TruExtracts Laboratories (“TRU”), has received it’s research license amendment from Health Canada.
The research license will allow TRU to not only conduct research into formulations, flavours, and sensory testing to refine potential product lines, but to allow for industry product sampling and introductions to new products on-site.
In addition, the sales license application was submitted to Health Canada for all cannabis classes, including dried cannabis, cannabis extracts, edibles, and topicals. Holding this license will allow TRU to sell directly to the provincial boards across Canada for retail sales. Health Canada has assigned a reviewer for this application, and an RMI (Request for More Information) was completed last week indicating good progress on the application.
When the sales license is granted, TRU will then hold research, standard processing, and sales licenses for cannabis products. TRU will not only be able to create formulations in-house, but to also then create any product through extraction, processing and production based on those in-house testings and formulations. The end products would then be able to be sold across Canada under various brands.
“I am thrilled with the progress Tru is making '' Said Frederick Pels CEO Gaia Grow Corp. “ Once the sales application is processed, Tru manufactured products can be directly sold to the respective Provincial Cannabis control boards, solidifying Tru as a manufacturer and Cannabis brand house. I look forward to updating shareholders once the sales license has been granted”
“These licenses will allow for accelerated in-house product development from concept to saleable product”, said Andre Sinclair, COO of TRU. “Being able to test various products and strains we are presented with through focus groups onsite, allows us to fine-tune profiles, and be selective towards only bringing the best product lines to market, while now also controlling how those products are branded and sold.”
TruExtracts Laboratories was created for high-capacity extraction and production, to meet global demand. TRU is one of Western Canada’s largest cannabis and hemp processors, with a 12,500 square foot state of the art facility in Calgary. The facility is Health Canada licensed and fully operational, with an expansion capability of an additional 16,000 additional square feet. Services include toll processing, THC, CBD extractions and isolates, as well as white label service and cannabis THC and CBD products.
For more Information, please visit their website at https://truextractslabs.com
Gaia Grow is an Alberta-based vertically integrated licensed hemp company with subsidiaries licensed for cannabis and hemp processing, extraction, product formulation, novel product development and cannabis retail. For more information about the Company, please visit www.GaiaGrow.com
The Company has posted a video on its YouTube channel and will continue to diligently post updates over the coming months. A link to Gaia’s official YouTube page can be found here: www.youtube.com/channel/UC7tbvsY5gl2CrlsESYkbbgw
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
CAUTIONARY AND FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements and information are often, but not always, identified by the use of words such as “appear”, “seek”, “anticipate”, “plan”, “continue”, “estimate”, “approximate”, “expect", “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could", "might", “should”, “believe”, “would” and similar expressions.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the hemp industry in general such as operational risks in growing; competition; incorrect assessment of the value and potential benefits of various transactions; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to tax laws and government regulations. Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release.
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