Bogotá, Colombia, April 20, 2021 - Ikänik Farms, Inc. (CSE: IKNK.U) (the "Company" or "Ikänik Farms") is pleased to announce that its Colombian subsidiary Pideka SAS ("Pideka") has completed the registration and commercialization process, the introduction of 16 new cultivars for commercial sale, many of which have a THC content of more than 20%. The new genetics will be eligible for immediate sale and will be in addition to its production quota recently issued by the Colombian government to produce psychoactive cannabis by fiscal year 2021.
"We are excited to expand our cultivar offering, and provide options to national and international clients, interested in psychoactive and non-psychoactive material from the Colombian market, with quality guided from California." said Brian Baca, CEO of Ikänik Farms.
To complete the commercialization process, the company provided dried flower samples from 16 genetics grown at Casa Flores to a laboratory run by ICA for potency and determination of the psychoactive classification. The remaining tests required for commercialization were conducted by designated laboratories and tested for pesticides, covering 50 pesticide molecules and were negative on all supplied cannabis material. Additional tests required were heavy metals and microbiological to establish commercial viability, as the cultivars are intended to support the pharmaceutical industry.
The 16 newly registered genetics lead the Company to a total of 22 commercially viable cultivars, produced at the Company's Casa Flores facilities, and are expected to be immediately available for commercial production and sale to international markets, namely , Europe, to treat multiple pathologies.
"We are pleased to introduce our 16 commercially viable cultivars to the global market and we want to thank ICA and the Colombian government agencies for their continued support in expanding our psychoactive commercial offering." said Borja Sanz from Madrid, president of Ikänik Farms International, Inc.
About Ikänik Farms
Ikänik Farms is a California-based multinational operator (MNO) that is building a dynamic portfolio of brands, inspired by passion, health and wellness, action sports, and supported by its vertically integrated retailer, distribution and cultivation in CA and its medical and laboratory grade culture in Colombia. The company's leadership brings decades of experience in R&D, cultivation, retail, branding, and corporate finance. The Ikänik Farms operation in Colombia, through its pharmaceutical division Pideka, holds the GMP-PHARMA and (GACP) Good Agricultural and Collection Practices certifications for its operational facility at Casa Flores.
This press release includes "forward-looking information" and "forward-looking statements" within the meaning of Canadian securities laws and US securities laws (collectively, "forward-looking information). All information, other than statements of historical fact, including in this press release that addresses activities, events or developments that the Company expects or anticipates will or may occur in the future is forward-looking information. When used in this press release, words such as "will", "may", " planned "," estimated "," expected "," intends "," must "," potential "," believes "," must ", and similar expressions are forward-looking information.
Although the Company has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking information, there may be other factors that cause results, results or achievements other than those anticipated, estimated. or anticipated, including but not limited to changes in laws, a change in management, inability to obtain additional funding, increased competition, hampering market growth, and state adoption due to inconsistent public opinion and industry perception of the medical use and adult use of marijuana, and regulatory or political change.
There can be no guarantee that such information will be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in the forward-looking information may differ materially from the actual results or events.
Consequently, readers should not unduly trust forward-looking information. The forward-looking information in this press release is made as of the date of this release. The Company declines any intention or obligation to update or revise such information, except as required by applicable law, and the Company assumes no responsibility for disclosure related to any other company mentioned in this document.
On behalf of the Board of Directors of Ikänik Farms Inc.
SOURCE Ikänik Farms Inc.
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