True Leaf Brands Inc MJ TRLFF subsidiary True Leaf Cannabis Inc. said Monday it has secured Health Canada’s licenses for cultivation, processing and selling cannabis for medical purposes for its True Leaf Campus facility.
The license enables True Leaf to commence with the cultivation, processing, and selling of medical cannabis right away, allowing it to manufacture "cannabis 2.0" products like edibles and topicals.
In the meantime, the company has stepped into the pet industry with True Leaf Pet, which is a natural pet care brand that offers a portfolio of hemp- and CBD-based products in the U.S., Europe, and Asia.
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“Today marks an important milestone for True Leaf as becoming a licensed producer helps support the continued development of our therapeutic pet care products,” Darcy Bomford, Founder and CEO of True Leaf said in a statement. “Our facility is now licensed and meets EU GMP and HACCP standards. This is required for the ‘Cannabis 2.0’ market in Canada and also opens the door to export cannabis to the booming European market.”
The company plans to seek a joint venture partner for the True Leaf Cannabis Inc. division to improve the facility’s value for shareholders, Bomford said.
True Leaf’s stock closed Friday’s session at 9 cents per share.
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