Vancouver, British Columbia - TheNewswire - September 23rd, 2021 - Gaia Grow Corp. (the “Company” or “Gaia”) (CNSX:GAIA.CN) (Frankfurt:GG0) is pleased to provide the following corporate update on its operations:
Tru Extracts Laboratories
TruExtracts (“Tru”) has applied for a Research and Development license for its Calgary facility, which will facilitate two things: controlled human product testing on-site in order to speed up product development as well as bring in testing equipment for on-site potency sampling and testing of finished products. The licensing process is considered an amendment to the existing licenses in place and should be approved within a few weeks.
The Tru R&D, Quality Assurance and Quality Control team has also been in the process of applying for NNCP numbers for a variety of products, with 38 having been applied for to date. These applications are for TRU’s own products as well as for sub-tenants Leaf and Mark and Spaced Food. The NNCP numbers are a required step in the approval of new products to then be sold in the legal cannabis marketplace and of the 38 individual applications that have been submitted for approval, only 9 have been singled out for compliance issues. These nine applications are being reviewed internally as well as with Health Canada, while the other submissions have continued on in the approval process.
“We have great synergy between our QA and QC team along with the other brands working under the TRU license at this facility,” says Frederick Pels, CEO of Gaia Grow Corp. “There is some really great innovation and product test runs happening here in the building. As the R&D license and NNCPs obtain their approvals, we will be able to kick things into high gear with larger-scale manufacturing, getting products onto the Provincial Wholesalers’ shelves and into consumers’ hands.”
About Gaia Grow Corp
Gaia Grow Corp 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 diligently posts updates on Gaia’s official YouTube page link can be found here: https://www.youtube.com/channel/UC7tbvsY5gl2CrlsESYkbbgw
For further information please contact:
Frederick Pels, Chief Executive Officer
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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