VANCOUVER, British Columbia--(July 9th, 2018)--PRESS RELEASE--Sproutly Canada, Inc. (formerly Stone Ridge Exploration Corp.) has announced that effective at the open of the market June 9, Sproutly’s common shares will be listed and will commence trading on the Canadian Securities Exchange (CSE) under the three-letter ticker symbol "SPR."
Sproutly is an ACMPR Licensed Producer of cannabis that strives to meet the evolving needs of cannabis consumers across Canada. Its mission is to become a vertically integrated cannabis consumer products company, bringing together best-in-class cultivation, secured distribution solutions, and advanced technologies to redefine the cannabis industry. Sproutly currently owns and operates a 16,600-square-foot production facility located centrally in the GTA utilizing state-of-the-art production technology and methods designed to best-in-class standards.
The company previously announced signing of letters of intent to acquire 1) Infusion Biosciences Canada Inc, a biotech company possessing the rights to Infusion Biosciences Inc.’s APP Technology for specific jurisdictions; and 2) SSM Partners Inc., a management company engaged in the commercialization of products and formulation services for APP Technology in specific jurisdictions. The transaction is expected to be completed in July.
The proposed acquisition brings together a disruptive and truly ground breaking technology in the growing cannabis beverage category and an ACMPR licensed producer with a strategically located cultivation facility.
Keith Dolo, CEO and director, commented, “Pending closing of the proposed acquisition, Sproutly seeks to become a dominant player and provider of best-in-class cannabis products, by creating a powerful platform to serve the needs of the food and beverage industry.”
Licensed Producer Under the ACMPR – Its wholly owned subsidiary Toronto Herbal Remedies owns and operates a completed 16,600-square-foot facility with production capacity of up to 1,400 kg per year with state of the art production technology and methods designed to best-in-class standards.
Strategically Located to Service the Greater Toronto Area (GTA) - Cultivation Facility and distribution strategically in the GTA with the ability to service 6.4 million adults in the GTA with a same day delivery service and an oversized Level 9 Vault allows for the ability to act as distribution centre for other LP’s.
Transformative Acquisition of Infusion Biosciences Canada – Proprietary, patent pending recovery process for recovering both water soluble (Infuz2O) and Bio Natural Oil (BNO) cannabinoids with a highly scalable, low-cost recovery yields attractive economics as compared to other extraction methods that require further processing beyond extraction to produce consumable products. APP Technology produces two unique finished ingredients from cannabis and hemp plants:
- Infuz2O – A naturally water-soluble cannabis solution delivering a new form of consuming cannabis in a beverage that mimics the onset/offset features comparable to smoking It will be formulated into beverages/drinks which deliver the effects of cannabis, fully dissolving in water with a fast onset time of less than 5 minutes, clearing (offset) within 90 minutes.
- Bio Natural Oil (BNO) – Cannabinoid oils infused into natural edibles or transdermal delivery while retaining strain specific characteristics.
The development of Infusion Biosciences’ APP technology and the creation of its Infuz2O and BNO, is based on over 12 years of R&D on the recovery of water soluble phytochemicals from medicinal plants and over 25 years in discovery and development of biotechnology and pharmaceutical drugs.