LiveWell Announces Licensing of Purefection Technology for Organic Extraction and Isolation of Cannabinoids
OTTAWA, ONTARIO – LIVEWELL FOODS CANADA Inc. (“LW“, “LiveWell Foods” or the “Company“) is pleased to announce it has signed a licensing agreement with Relief Effects for exclusive use of its proprietary extraction and isolation processes in Canada. With this technology, LiveWell Foods intends to extract whole plant oils from cannabis for sale in Canada’s regulated cannabis market. LiveWell will also use the technology to isolate cannabinoids from lower value feedstock, thus creating high quality, high purity isolates. Isolates are an integral component for manufacturing precise dosed medicinal and potential future recreational infused and edible products and will be important once approved within Canada’s legal regulatory framework.
“Livewell Foods is committed to formulating and providing Canadians with the highest quality products in the industry as part of its Brand promise to promote a balanced healthstyle and lifestyle” says LiveWell’s President, David Rendimonti. “LiveWell Foods currently produces high quality certified hemp and specialty foods through its O-Hemp and Delisse brands and plans to expand into cannabis edibles once they are legalized in 2019.”
LiveWell Foods Canada Inc. (Ottawa, Canada) is dedicated to the highest quality standards in delivering cannabis and hemp products. LiveWell is planning to retrofit an existing 540,000 square foot greenhouse facility in Ottawa, Ontario. LiveWell will also be constructing a state of the art Global Innovation Centre and 600,000 square foot Cannabis Cultivation and Processing facility in Litchfield, Quebec. Upon completion, the combined will measure 1,140,000 square feet of greenhouse capacity, all built to an unparalleled level of quality assurance, procedures, and testing. The company has established partnerships with leading sector names, with interests and operations abroad. LiveWell also distributes retail and bulk hemp products under the O-Hemp brand and plans to distribute cannabis edibles and infused products.
On behalf of the Board of Directors,
LIVEWELL FOODS CANADA INC.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “plan”, “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The forward-looking information contained in this press release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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