Business
Canadian Cannabis Buys U.S. Pharma
Canadian Cannabis Buys U.S. Pharma.
About this update from Alternate Health Corp
[{"type":"text","content":"\n\n\n\nCanadian Cannabis Buys U.S. Pharma\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nCanadian Cannabis Buys U.S. Pharma\nCanada NewsWire\nTORONTO, May 9, 2019\n\n\n\nAlternate Health targets Mexican and Latin American CBD industry with joint venture agreement\n TORONTO, May 9, 2019 /CNW/ - Alternate Health Corp., (\"Alternate Health\" or the \"Company\") (CSE:AHG) (OTCQB:AHGIF), an international leader in technology and extraction solutions for the regulated cannabis industry, announced today a key step forward in the Company's pharmaceutical-grade CBD product manufacturing strategy, having signed a joint venture agreement with Oltecate Enterprises (\"Oltecate\"), a COFEPRIS-licensed Mexican CBD distributor, with an eye for expansion throughout Latin America.\n\n \n \n\n \nAlternate Health's expansion into the Latin American CBD market complements the Company's recent US$20 million acquisition of Blaine Labs, previously announced on May 5, 2019. With 23 years of experience producing FDA-approved and cGMP-certified medical products, Blaine Labs is uniquely positioned to manufacture a wide range of CBD products that meet international export standards. As Alternate Health rapidly expands Blaine Labs CBD product line, the Company expects Mexico to be a key growth market for future sales and a jumping off point for further distribution throughout Latin America. \n\"With this acquisition, we are taking another major step in consolidating the global CBD market,\" says Howard Mann, CEO of Alternate Health. \"We now boast the addition of nation-wide Mexican CBD licenses to our hemp-based medical product assets, including extraction, distribution and product development.\"\nBased in Tecate, Baja California, Mexico, Oltecate's headquarters are strategically located along the US-Mexican border with California. Oltecate currently holds four federal CBD licenses issued by COFEPRIS, the Mexican equivalent of the U.S. Food and Drug Administration (FDA). Currently, Mexican law prohibits cannabis and hemp cultivation and extraction, but imports of C...