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Sproutly Canada Inc. (CSE:SPR) New Listing

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Sproutly, through its indirect wholly owned subsidiary Toronto Herbal Remedies Inc. recently received its Access to Cannabis for Medical Purposes Regulations license from Health Canada to cultivate cannabis.

Additional Information:

Company: Sproutly Canada Inc.
Website: http://www.sproutly.ca
Stock Symbol: CSE: SPR
Date Published: Jul 9, 2018
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Sproutly Canada Inc. is the latest new listing on the Canadian Securities Exchange, trading under the symbol “SPR”, following a reverse take-over with Stone Ridge Exploration.

Sproutly, through its indirect wholly owned subsidiary Toronto Herbal Remedies Inc. recently received its Access to Cannabis for Medical Purposes Regulations license from Health Canada to cultivate cannabis.

Following the granting of the license, the company is now permitted to cultivate cannabis at its 16,600 square foot production facility, which utilizes state-of-the-art technology.

With the facility strategically located in the Greater Toronto Area, the company is able to service 6.4 million adults with same day delivery service and an oversized Level 9 Vault allows for the ability to act as a distribution centre for other Licensed Producers, pending Health Canada’s approval.

Keith Dolo, CEO, stated: "Achieving our Cultivation License is a significant milestone and key to implementing our strategy to become a leading vertically integrated cannabis consumer products company, bringing together pharma-grade cultivation, secured distribution solutions, and advanced technologies to redefine the cannabis industry.”

The company previously announced signing a letter of intent to acquire Infusion Biosciences Canada Inc, a biotech company possessing the rights to Infusion Biosciences Inc.’s APP Technology for specific jurisdictions.

The APP Technology is a proprietary, patent pending recovery process for recovering both water soluble and Bio Natural Oil 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.

The company also signed a letter of intent to acquire SSM Partners Inc., a management company engaged in the commercialization of products and formulation services for APP Technology in specific jurisdictions.

This joint transaction is expected to be completed in July.

Keith Dolo, CEO, further 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.”

The shares are currently trading at $0.95.

For more information, please visit the company’s website www.sproutly.ca, contact Keith Dolo, CEO, at 778-945-6860 or email investors@sproutly.ca.

I’m Samantha Deutscher for Investmentpitch Media