AUXLY ANNOUNCES PRODUCT STRATEGY UPDATE AND
WORLD-CLASS ADDITIONS TO DOSECANN‘S MANAGEMENT
TEAM
Vancouver, BC -- August 14,
2018 -- InvestorsHub NewsWire -- Auxly Cannabis Group Inc.
(TSX.V - XLY)
("Auxly" or the "Company") is
pleased to provide an update on the product strategy of the
Company’s wholly owned subsidiary, Dosecann Inc.
(“Dosecann”), as well as a number of strategic
additions to the management team of Dosecann.
Dosecann, Auxly’s cornerstone
midstream asset that is Canada’s largest cannabis specific
“Licensed Dealer”, is positioned to play a significant role as a
leading research, product development, extraction, formulation and
consumer packaged goods manufacturing center in the Canadian
cannabis industry with its 42,000 square foot purpose-built
facility in Charlottetown, PEI.
As previously announced, Dosecann has
successfully obtained a Dealer’s Licence for Controlled Drugs and
Substances (the “Licence”) from Health Canada and
has commenced operations related to the creation of value-added
cannabis products, as permitted by the Licence and applicable laws.
Dosecann has further subdivided its cannabis activities into two
segments, Medical Products and Consumer Packaged Goods.
The Medical Products segment, led by
Dr. Christina Woollard and Dr. Bob Chapman, is focused primarily on
research and development of new value-added cannabis products for
sale to domestic and global medical cannabis and wellness markets.
Part of this segment’s activities will include observational
studies and clinical trials to validate the efficacy of new
cannabis formulations and intellectual property. It should be
noted that, while current regulations do not allow for the creation
of Natural Health Products containing cannabis, the Medical
Products segment of Dosecann's business will also focus on
addressing market demand for wellness products containing
cannabinoids through the research and development of such products
within the parameters of applicable legislation.
The Consumer Packaged Goods segment,
led by Mr. Peter Crooks and Dr. Bob Chapman, is focused on the
creation of novel consumer packaged products for the medical and
non-medical cannabis markets. Initially, this segment of Dosecann's
business will be focused on the creation and manufacturing of
cannabis edible and cannabis concentrate products for sale within
Canada in anticipation of Health Canada permitting the sale of such
products in 2019.
The Company is also excited to present
Dosecann’s world-class management team as follows:
Greg
Boone
(Founder
& Chief Executive Officer)
Mr. Boone is
a seasoned entrepreneur with over 20 years of experience in the
Executive Search and Management consulting field through his
company HEC GROUP. He specializes in building high performance
teams for his clients in the automotive, food, pharma and chemical
industries. For the past 5 years, Mr. Boone has applied his talents
to the rapidly emerging medical Cannabis industry as an investor
and trusted advisor to companies throughout the world looking to
enter this space. Mr. Boone founded Dosecann with the primary goal
of bringing the best cannabis innovations to domestic and
international consumers across medical, wellness and recreational
market segments.
Dr.
Christina Woollard
(Chief
Scientific Officer)
Dr. Woollard
has more than 20 years’ experience in the pharmaceutical
development industry, across big and small pharma. Prior to joining
Dosecann, Dr. Woollard worked as a Formulation Scientist at Pfizer
for 4 years and then joined GW Pharmaceuticals, a British
biopharmaceutical company. She spent 16 years with GW
Pharmaceuticals managing the Product Development team and working
on multiple cannabinoid projects including Sativex, Epidiolex,
injectables, solid oral dosage forms and THCV products. Dr.
Woollard received her degree in Pharmacy from the University of
Wales, Cardiff, followed by a PhD, studying the use of liposomes to
deliver gene therapy to the lung.
Peter Crooks
(Chief of
Product Innovation)
Mr. Crooks
brings more than 20 years of senior leadership experience in
product and brand development across food & beverage, natural
health products, medical devices and pharmaceuticals. Most recently
as the Executive Director of Canada’s Smartest Kitchen (Canada's
leading food development laboratory) for which Mr. Crooks was
recognized in 2017 as one of Atlantic Canada’s Top 50 CEOs, Mr.
Crooks successfully led a multi-disciplinary team of chefs, food
scientists, marketing professionals and product developers to
become Canada’s leading food product development center. In his
career, he has overseen the development of over 2,100 products and
raised more than $160M to support product innovation and
commercialization. He also has been involved in the
conceptualization, design and build of three Maritime-based
innovation and applied research centers and currently advises
several Federal departments on the future of food and
innovation.
Dr. Bob
Chapman
(Chief Operating Officer)
Dr. Chapman has been applying his
broad practical experience in organic and analytical chemistry for
the past nineteen years to solve problems of industrial relevance.
Most recently, Dr. Chapman was a Principal Research Officer
with the National Research Council Canada (“NRC”)
Aquatic & Crop Resource Development Research Centre based out
of Charlottetown, PEI. With the NRC, Dr. Chapman was responsible
for leading a national program and strategic projects focused on
the development of Natural Health Products and functional
ingredients with private sector companies. In particular, he was
responsible for leading strategic projects that aim to develop new
functional ingredients based on nutritional oils and plant-based
proteins which led to research on cannabinoid-based
mixtures. Prior to the NRC, Dr. Chapman spent 6 years working
as a Senior Scientist for two venture capital funded bioscience
startup companies in San Francisco, California. Dr. Chapman
is an Adjunct Professor with the Chemistry Department at the
University of Prince Edward Island, the Vice-President of the NHP
Research Society, a member of several international standards
groups including ASTM D37 committee on cannabis serving as the
recording secretary for the processing and handling
subcommittee. For NRC ACRD’s research center, he served on
national advisory committee’s supporting the standardization needs
for the emerging cannabis industry to ensure quality and safety of
cannabis supply. Dr. Chapman is an active member of the
Canada’s bioscience community serving on several boards and
advisory boards He holds a Ph.D. in Organic Chemistry from the
University of British Columbia, has published widely, holds several
patents, and has presented at numerous scientific symposia.
Dr. Chapman is the recipient of many awards, including a
postdoctoral fellowship from the Natural Sciences and Engineering
Research Council of Canada (NSERC) tenured in the Department of
Chemistry and Chemical Biology at Harvard University with Professor
George Whitesides.
Allan
Arsenault
(Director of Operations)
Mr. Arsenault has more than 17 years
of senior management experience within the food industry. He has
extensive experience in GMP, HACCP, budgeting, production planning,
human resources, materials management, equipment planning,
training, auditing, and facility management. He has experience with
CFIA, FDA, and SQF audits and has managed facilities that met and
exceeded government food safety standards and has led plants to be
industry leaders in food safety. Allan has a business degree in
Management and a degree in Socio-economics from UPEI in addition to
an engineering certificate from Holland College.
Sandra LeClair
(Director of
Quality)
Ms. LeClair
has been working within the PEI scientific community for over 20
years, with a wide range of experience in multiple roles in
academia, government, and private industry. For the past 6 years,
she managed the Quality Control department in a GMP facility
manufacturing animal vaccines that were distributed worldwide.
Prior to this, Ms. LeClair spent 5 years as a Senior Scientist for
a global animal health company, working on developing new and
unique animal health products. Ms. LeClair graduated with honors
from UNB with a Bachelor of Science, and proceeded to enroll in the
Masters of Science program at UPEI, completing her Master’s thesis
in 2000.
Jeremy
Stiles
(Regulatory Affairs/GMP
Consultant)
Mr. Stiles is an experienced quality
professional in the pharmaceutical and life sciences
industry. With over 30 years’ experience as a leader in the
public and private sector he has worked extensively to design,
develop and implement quality and environmental management systems.
He is well versed in a variety of quality assurance standards and
the regulatory requirements associated with pharmaceutical filings
such as CMC, DMF’s, NDA’s or ANDA’s. Prior to joining Dosecann, Mr.
Stiles spent 20 years with BioVectra, most recently as Director,
Quality Assurance and Regulatory Affairs. Mr. Stiles graduated from
the University of London England with a Masters of Science in
Environmental Management.
“On behalf of the Board of Directors
and Management, it gives me great pleasure to congratulate Greg on
building a world-class operation and to welcome the incredible team
he has assembled at Dosecann to the Auxly Cannabis platform.” said
Hugo Alves, President of Auxly. “Dosecann is the cornerstone asset
in the midstream segment of our business and we feel strongly that
the team that has been assembled and the product innovation and
development strategy that Dosecann has developed distinguishes
Auxly from its peers and puts us in a position to become one of the
leading cannabis products companies in the world. We are
hugely excited to see these products come to life at Dosecann and
offering consumers innovative quality products backed by research
and science!”
ON BEHALF OF THE BOARD
"Chuck Rifici"
Chairman & CEO
About Auxly Cannabis Group Inc. (TSX.V:
XLY)
Auxly Cannabis Group is a collective of
entrepreneurs with a passion for the cannabis industry past,
present and future. Our mandate is to facilitate growth for our
partners by providing them with financial support and sharing our
collective industry experience. Our partners all have
different visions, voices and brand values, and all share a common
goal—to build a world-class industry based on ethics, diversity,
quality and innovation.
About Dosecann
Dosecann Inc. is a PEI-based Licensed
Dealer applicant currently completing the buildout of a
42,000-square foot GMP compliant facility. Within the purpose-built
facility, Dosecann intends to accommodate product development,
extraction, formulation, filling and packaging. Dosecann is
developing a suite of cannabis products across a variety of
delivery methods for both domestic and international medical and
adult use markets.
Investor
Relations:
For more information about investing in
Auxly Cannabis Group, please visit: http://www.auxly.com or contact our
Investor Relations Team:
Email: IR@auxly.com
Phone: 1-833-695-2414
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Connected:
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Media Enquiries
(only):
For media enquiries or to set up an
interview please contact:
Sarah Bain, VP External
Affairs
Email: sarah@auxly.com
Phone: 613.230.5869
Notice Regarding Forward
Looking Information:
This
news release contains certain "forward-looking information" within
the meaning of applicable Canadian securities law. Forward-looking
information is frequently characterized by words such as "plan",
"continue", "expect", "project", "intend", "believe", "anticipate",
"estimate", "may", "will", "potential", "proposed" and other
similar words, or information that certain events or conditions
"may" or "will" occur. This information is only a prediction.
Various assumptions were used in drawing the conclusions or making
the projections contained in the forward-looking information
throughout this news release. Forward-looking information includes,
but is not limited to: the proposed operation of Dosecann’s
facility, future legislative and regulatory developments involving
cannabis and cannabis products, the timing of proposed research and
clinical trials, the timing and outcomes of regulatory or
intellectual property decisions, the relevance of Dosecann’s
proposed products, consumer preferences, political change,
competition and other risks affecting the Company in particular and
the cannabis industry generally.
A
number of factors could cause actual results to differ materially
from a conclusion, forecast or projection contained in the
forward-looking information in this release including, but not
limited to, whether: Dosecann is able to maintain its Licence; the
Company is able to successfully manage the integration of
Dosecann's operations with its own; Dosecann can obtain all
necessary governmental and regulatory permits and approvals for the
operation of the facility and the development of its proposed
products, and whether such permits and approvals can be obtained in
a timely manner; the success of Dosecann’s research strategies, the
applicability of the discoveries made therein, the successful and
timely completion and uncertainties related to the regulatory
process, the acceptance of future Dosecann product by consumer and
medical professionals, and general economic, financial market,
legislative, regulatory, competitive and political conditions in
which the Company and Dosecann operate will remain the same.
Additional risk factors are disclosed in the revised annual
information form of the Company for the financial year ended
December 31, 2017 dated May 24, 2018.
New
factors emerge from time to time, and it is not possible for
management to predict all of those factors or to assess in advance
the impact of each such factor on the Company's business or the
extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in any
forward-looking information. The forward-looking information in
this release is based on information currently available and what
management believes are reasonable assumptions. Forward-looking
information speaks only to such assumptions as of the date of this
release. In addition, this release may contain forward-looking
information attributed to third party industry sources, the
accuracy of which has not been verified by the Company. The purpose
of forward-looking information is to provide the reader with a
description of management's expectations, and such forward-looking
information may not be appropriate for any other purpose. Readers
should not place undue reliance on forward-looking information
contained in this release.
The
forward-looking information contained in this release is expressly
qualified by the foregoing cautionary statements and is made as of
the date of this release. Except as may be required by applicable
securities laws, the Company does not undertake any obligation to
publicly update or revise any forward-looking information to
reflect events or circumstances after the date of this release or
to reflect the occurrence of unanticipated events, whether as a
result of new information, future events or results, or
otherwise.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this
release.
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