Sproutly Canada Inc APP Technology Is Going International
Sproutly Canada Inc (CNSX:SPR) (OTCMKTS:SRUTF) is going international. In what is easily the company’s defining news release to date, the emerging water-soluble cannabis solutions provider will have its APP Technology footprint in products across the Caribbean—and potentially the European Union.
Just moments ago, Sproutly Canada announced it has entered a letter of intent with Global Canna Labs Limited to establish a joint venture to formulate and distribute cannabis edibles, beverages, and topical products. Global Canna Labs isn’t some insignificant shell company with visions of grandeur and little else; they’re the Caribbean’s largest medical cannabis producer, with significant indoor/outdoor grow operations and optionality for much more. Global Canna Labs also has a 25% interest in Zimmer and Company, which has 61 existing products approved by the Jamaican Ministry of Health for import and export.
Perhaps the most significant thing is the very explicit endorsement of Sproutly Canada’s APP technology.
According to Global Canna Labs CEO Paul Glavine, his company “explored a number of options regarding extraction and cannabis technology solutions for beverage and derivative products. APP Technology is, in our view, the superior choice for beverage formulations.” While GCL certainly isn’t Coca-Cola Co. or Keurig Dr. Pepper Inc., it’s high-grade affirmation from a regional cannabis player—especially as APP technology has yet to be mass-deployed.
Sproutly Canada Chief Scientific Officer Dr. Arup Sen talks about what separates APP technology from others that claim water solubility
Furthermore, the joint venture provides Sproutly Canada a terrific showcase to display its technology on the world stage. As the company seeks to be an industrial-sized cannabanoid ingredient supplier, a successful partnership should open avenues to bigger partnerships with larger distributors throughout the globe. The company is also formulating its own brands—including its functional beverage line for the medicinal and adult-use market.
We fully expect to see a bevvy of Sproutly-GCL cannabev drinks at markets and tourist destinations throughout the pan-Caribbean. With a little regulatory maneuvering, they may also be on European Union store shelves in the future. GCL is constructing a 6,000 sq. ft. packing and drying facility to EU-GMP/U-GACP specifications, in hopes of E.U. export qualification in the future.
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