September 3, 2019 – PRESS RELEASE – Edmonton, Alberta, Canada – Atlas Biotechnologies Inc. has announced Atlas Growers Denmark A/S, a major European medical cannabis project structured using a finance lease of the assets of Egehøj Champignon:
- Assets consist of a 170,000-square-foot facility located on Funen Denmark, which will serve as Atlas’ European base of operations for the development and production of medical cannabis-based products. Atlas retains the right to purchase the assets at a fixed price at any time for 20 years.
- The property features 36 individual climate-controlled rooms, allowing for in-house cultivation of pharmaceutical grade cannabis flowers, as well as production of pure, extracted medical inputs, and GMP manufacturing of down-stream finished goods.
- Individual microclimates can be tailored to the unique environmental demands of each specific medical cannabis cultivar, or plant variety.
- Concurrent with the lease, Atlas has submitted a cultivation license with the Danish Medicine Authority. First harvest is scheduled for early 2020.
- With the vision of “creating the world’s most trusted cannabis products” and specialized approach to production, Atlas is taking a pharmaceutical path to ensure products are of consistent quality and efficacy.
- Working with Novo Nordisk Engineering, Atlas has engineered a new 20,000-square-foot processing laboratory, which will meet European Union Good Manufacturing Practices (EU GMP) standards, the certification necessary for pharmaceutical manufacturing.
- Kent Stenvang, CEO and owner of Egehøj Champignon will help strengthen the Atlas leadership team as Denmark Head of Operations. Kent brings over 30 years of experience in running a business with products in a competitive industry.
- Atlas intends to create over 100 new jobs within the region.
Sheldon Croome, Atlas president and CEO, notes: “We have been seeking to expand our production base outside of Canada for some time and are pleased to have secured this high-impact opportunity. The rapidly emerging European medical cannabis market is primed for tremendous growth, and our Denmark expansion will provide Atlas a solid foundation to further serve our ever-growing client base of European buyers. We are excited to be planning one of the largest, most sophisticated indoor cultivation and GMP processing facilities in Europe, the next major frontier for medical cannabis legalization.”
Stenvang added: “I am thrilled to become an integral member of the Atlas team and am consistently impressed by their biotech and pharmaceutical research focus in medical cannabis. This cultivation and processing expansion is projected to provide at least 50 local jobs, with over 100 hires expected by late 2020."
