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Algae Dynamics Corp Announces Memorandum of Understanding With Company Licenced by Health Canada to Test, Extract, Purify, Import/Export and Sell Cannabis Oil
Algae Dynamics Corp Announces Memorandum of Understanding With Company Licenced by Health Canada to Test, Extract, Purify, Import/Export and Sell Cannabis Oil.
About this update from Canaquest Medical Corporation
[{"type":"text","content":"\n \n \n Algae Dynamics Corp Announces Memorandum of Understanding With Company Licenced by Health Canada to Test, Extract, Purify, Import/Export and Sell Cannabis Oil\n \n \nAlgae Dynamics Corp Announces Memorandum of Understanding With Company Licenced by Health Canada to Test, Extract, Purify, Import/Export and Sell Cannabis Oil\n \n TORONTO, ON--(Marketwired - Mar 16, 2017) - ALGAE DYNAMICS CORP (OTCQB: ADYNF) (the \"Company\" or \"ADC\"), a development stage company focused on the development of unique health products and pharmaceuticals utilizing cannabis and algae oils, today announced a memorandum of understanding with Avanti Rx Analytics Inc. (\"ARA\") to collaborate on a range of topics as outlined below. ARA is uniquely positioned to test, extract, develop, produce and supply cannabinoids that can enable and enhance the delivery and commercial success of medicinal cannabis products. As such, ARA will play a key role in supplying the University of Waterloo and Western University with cannabis oil for the previously announced sponsored research programs, in addition to contributing to the product development and formulation opportunities that combine the benefits of algae and cannabis oils.\n Paul Ramsay, Chairman and President of the Company said, \"This collaboration is a vital piece of our corporate development strategy. Our relationship with ARA will assist us immensely in the development of unique products both in the medical cannabis category, as well as in unique formulations utilizing cannabis and algae oils. It dove-tails beautifully with our recently announced research relationships with two universities, and we believe will help fast-track us to revenue.\"\n The key aspects of the strategic collaboration between the Company and ARA are as follows:\n \n \n ARA agrees to test, formulate, manufacture, and package cannabis and algae based products as requested and developed by ADC under the current and/or future medical and recreational cannabis regulations, it being understood that products containing both cannabis oil and algae oil, or derivatives therefrom, will be processed exclusively for ADC.\n \nARA agrees to assist ADC to develop marketing channels including but not limited to: website development and internet promotion, medical doctors, product distributors, as appropriate and in compliance with the regu...