OSOYOOS, British Columbia, Dec. 15, 2020 (GLOBE NEWSWIRE) — via CannabisNewsWire – Way2Grow Nurseries (“Way2Grow” or “W2G”), a privately held biopharma company, is pleased to announce it is entering the productivity phase of cannabis cultivation, micropropagation and extraction. The company further announces its preparation of a Health Canada application towards psychedelic research and development for a medicinal mushroom (Psilocybe semilanceata) Dealer Licence and for a Section 56 Exemption under (1) Exemption for use of psilocybin production and extraction for planned preclinical research under scientific purposes, pursuant to the Controlled Drugs and Substances Act (the “CDSA”).
Way2Grow received approval for a single-story production facility designed to support tissue culture and micropropagation and to meet organic cannabis cultivation, processing and medical sales requirements. W2G’s expansion plans include the expansion of its bio- pharmaceutical and bio-nutraceutical research laboratory, the addition of controlled rooms for the cultivation production, extraction and formulation of Psilocybin Mushrooms (Psilocybe semilanceata), and the addition of a medical dispensary in Osoyoos, B.C.
W2G’s research plans include the investigation of cannabis and psilocybin mushroom’s growth plans and examination of their efficacy on treating unmet mental health conditions such as PTSD, addiction dependency, and anxiety. Under the CDSA Licencing framework, a Dealer Licence would allow W2G to procure psilocybin and psilocin compounds as well as propagate, cultivate, harvest and sell psychedelic mushrooms to pharmacies and other research facilities for pharmacopeia, while the Section 56 Exemption will allow W2G to conduct research on controlled substances such as psilocybin and psilocin.
W2G’s cultivation relies on a small, closed room approach to growing consistent organic medical cannabis and soon, medical grade psilocybin mushroom (Psilocybe semilanceata) production. Each W2G cultivar starts with a consistent phyto-pharmaceutical feedstock growth plan through the use of tissue culture, genomics, genetic engineering and molecular biology. Each cultivation room then operates specific to the cultivar’s growth plan and cultivar optimal conditions to maintain consistent medical quality.
W2G has developed a new and strategic organic approach to the biopharmaceutical industry by combining its expertise in organic cultivation technology, an experienced genetic advancement team, innovative pharmaceutical research plans and IP development, coupled with the highest level of security. Way2Grow believes this unique combination will lead to the highest quality, safest organic biopharma and nutraceutical products.
The Standard Cultivation, Processing and Medical Sales Licences are valid for a three-year period until Nov. 20, 2023, and are subject to customary terms and conditions.
About Way2Grow Nurseries (W2G)
Way2Grow is a privately held biopharmaceutical company in the cannabis and psychedelic industries. W2G began with an organic vision to help patients gain better access to high quality, consistent, organic products. To achieve this vision, W2G has developed a consistent phyto-pharmaceutical feedstock growth plan through the use of tissue culture and molecular biology. These methods allow for the standardization of the procedures used to ensure quality and consistency of W2G’s biopharmaceuticals.
W2G’s extensive research and IP approach is focused on the development of several new plant-based cultivation techniques, hybrid cultivar development, genetic profiling and tissue culture. By developing a molecular breeding and genetics program, we can identify new bioactive compounds to determine interactions with specific genes responsible for chronic diseases.
Way2Grow is located in Osoyoos, British Columbia, and is regulated under the Cannabis Act and the Cannabis Regulations (Canada).
This news release may contain “forward-looking statements.” These statements relate to future events or future performance of Way2Grow. Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future, including words or phrases such as “anticipate,” “may,” “will,” “might,” “should,” “could,” “can,” “intend,” “expect,” “believe,” “plan,” “project,” “continue” or similar expressions that suggest future outcomes or the negative thereof or similar variations. Such forward-looking statements include, but are not limited to, statements concerning W2G’s research, development and expansion plans, including its Health Canada application for the Dealer Licence and Section 56 Exemption, and the potential results from such Licencing.
Forward-looking statements are based on management’s current expectations and may materially differ from actual results. Further, such forward-looking statements are subject to risks and uncertainties that could negatively affect our business, operating results and financial condition, including, without limitation, risks arising from a delay in Licencing and financing risks. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
For Investor Relations inquiries, please contact:
READ MORE: http://www.globenewswire.com/news-release/2020/12/15/2145347/0/en/Way2Grow-W2G-Biopharma-Company-Enters-Cannabis-Productivity-and-Announces-Plans-to-Seek-Health-Canada-Approval-for-Magic-Mushroom-Psilocybin-and-Psilocin-Dealer-and-Research-Licenc.html