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ALGAE DYNAMICS CORP Announces New Oil Extraction Initiative Into the Canadian Cannabis Industry
ALGAE DYNAMICS CORP Announces New Oil Extraction Initiative Into the Canadian Cannabis Industry.
About this update from Canaquest Medical Corporation
[{"type":"text","content":"\n \n \n ALGAE DYNAMICS CORP Announces New Oil Extraction Initiative Into the Canadian Cannabis Industry\n \n \nALGAE DYNAMICS CORP Announces New Oil Extraction Initiative Into the Canadian Cannabis Industry\n \n TORONTO, ON--(Marketwired - Dec 21, 2016) - ALGAE DYNAMICS CORP (OTCQB: ADYNF) (the \"Company\"), a development stage company focused on the commercialization of its proprietary BioSilo® cultivation and extraction system for the growth of algae strains for use in the food and health supplement industry, today announced a new strategic initiative in the extraction of oils from other botanicals, most notably cannabis.\n Paul Ramsay, Chairman and President of the Company said, \"We are excited and passionate about this new initiative. We believe that we can utilize our expertise in existing extraction technology of algae oil to other botanicals, such as cannabis for an expansion of potential product offerings. Given the Canadian movement toward full adult use legalization, we believe there is no better time to expand our business at the forefront of this emerging industry.\"\n To expand into Cannabis extracts the Company plans on focusing its efforts in 2017 by:\n \n \n Expanding Research and Development work with existing and new Canadian university relationships to bring the latest technology and science to develop future products.\n \nEntering into discussions to partner with or take potential ownership in existing Access to Cannabis for Medical Purposes Regulations (ACMPR) licensed producers to allow for access to the marketplace. \n \nSubmitting an application to become a producer of medical marijuana under the ACMPR and ultimately sell products derived from Cannabinoids.\n \n \n The Company believes it is uniquely positioned by solely trading on the US OTC markets while being fully domiciled and entirely operating in Canada not being subject to restrictive federal laws related to Cannabis cultivation and sale in the United States. \n The Company has had at the core of its product development strategy the extraction of Omega-3 fatty acids from certain strains of algae, with high concentrations of DHA which is an important nutrient for brain, eye and heart health, as well as the creation of various nutraceutical products developed therefrom. In light of the many demonstrated health benefits of other botanical...