EFX Laboratories Commences Commercial Capsule Sales Through Strategic Partnership
April 8, 2019 (Source) — Viridium Pacific Group Ltd. (“Viridium” or the “Company”) (TSXV: VIR) (OTC PINK: VIRFF) is pleased to announce its wholly owned subsidiary, EFX Laboratories Inc. (“EFX”), a contract manufacturer of cannabis oil capsules, has commenced medical two-piece capsule sales through its partnership with Broken Coast Cannabis Ltd. (“BCC”) a wholly owned subsidiary of Aphria Inc. (“Aphria”) (TSX: APHA and NYSE: APHA) available to BCC medical clientele via their online sales portal.
Under the terms of the agreement between EFX and Aphria, the agreement enables EFX to provide commercial manufacturing services with a revenue sharing structure on the medical two-piece capsule containing various THC and CBD concentrations.
The first available product under the partnership structure is a 5mg tetrahydrocannabinol (“THC”) capsule using a custom blend of BCC high-quality THC strains. This product offering gives medical clients a dose-controlled, predictive, tasteless, odorless, and discreet option of consuming cannabis oil. Additionally, the whole-flower, full spectrum capsule is one of the only available in the Canadian cannabis market resulting in a unique selling position. Commercial production is now underway and the product is available on Broken Coast and Aphria’s website for their registered patients to purchase.
“The realization of a commercial medical pill is a significant milestone for EFX and a step toward our vision to provide the market value added products,” stated Jay Garnett, Viridium’s CEO.
EFX is a Canadian biotech company located in Calgary focused on medical cannabis applications and treatments and has developed several proprietary formulations for pain control, as well as a suite of value-added wellness products. Key products of EFX include a proprietary two-piece pill for postoperative pain control actively being prepared for a phase III clinical trial and over 50 market tested wellness formulas and products ranging from creams, tinctures, sprays and oils.
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Viridium Pacific Group Ltd. is the parent company of Experion Biotechologies Inc., a Health Canada licensed cultivation and processor of cannabis, based in Mission, BC and EFX labs, a medical products production and clinical research company based out of Calgary, AB.
Viridium is invested in a portfolio of products including a full spectrum of consumer needs, including products for Adult use, wellness and therapeutic daily use.
This press release contains forward-looking information within the meaning of Canadian securities laws. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.
Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, forecast, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Company’s equity securities; recent market volatility; the Company’s ability to raise the necessary capital or to be fully able to implement its business strategies; the risks identified in the Filing Statement, and other risks and factors that the Company is unaware of at this time. The reader is referred to the Filing Statement dated September 25, 2017 and/or the most recent annual and interim Management’s Discussion and Analysis for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through the Company page on SEDAR at www.sedar.com.
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