Viridium Pacific Group Ltd.
Primary Exchange: TSX.V
Under the Symbol: VIR
Thursday, December 27, 2018 9:30 AM
VANCOUVER, BC / ACCESSWIRE / December 27, 2018 / Viridium Pacific Group Ltd. (“Viridium” or the “Company”) (TSXV: VIR) (OTC PINK: VIRFF) is pleased to announce it signed an agreement with INOPHA GmbH (“INOPHA”), a pharmaceutical distributor for the German market to enter the tender process within Germany and acquire a license to cultivate medical cannabis. Viridium has already consulted and helped INOPHA submit the application for public procurement tender requested by the German Federal Institute for Drugs and Medical Devices on December 11, 2018 to obtain a license to cultivate medical cannabis.
Should the tender application be successful, Viridium would continue to aid the joint venture by implementing the tender application, developing operating procedures, consulting on facility construction and commissioning, securing starter material and sample batches, and providing ongoing commercial and operational assistance. According to the terms of the agreement, in exchange for Viridium’s intellectual property and consulting contribution, the Company would become an equity partner in the licensed joint venture. If successful, the joint venture would represent Virdium’s first international expansion. Regardless if the tender is successfully awarded to the joint venture, INOPHA and Viridium will continue with an import and export relationship for medical cannabis throughout Germany.
INOPHA has a successful history and proven itself as an importer and distributor of premium pharmaceutical products throughout Germany. With a highly experienced team led by Chief Executive Officer, Stefan Adomeit, INOPHA has established itself as a procurement leader with operations in Ludwigsfelde, Germany, located approximately 30 kilometres outside of Berlin. INOPHA is well situated for the addition of importing and commercial production of medical cannabis.
Jay Garnett, Viridium President and Chief Executive Officer, commented: “The German medical cannabis patient relies on high-quality cannabis supply that meets the rigorous standards of regulations, such as those governing our industry in Canada. INOPHA’s interest in working with a Canadian LP, such as Viridium, stems from the need to partner with a proven operator with a track record of supplying the medical market.” Mr. Garnett further stated, “We look forward to working with INOPHA to build a quality medical cannabis producer in Germany.”
Viridium Pacific Group Ltd. is a consumer wellness and biotech innovation company based in British Columbia, and the parent company of operating subsidiaries involved in horticultural production, (Experion Biotechologies Inc.) property development (Fish Trap Ventures Ltd.), and human resource management (Stave Lake Services Ltd.) Experion Biotechnologies Inc., is a Health Canada licensed producer of cannabis, which operates in an 8,300 square-foot indoor facility outside of Mission, BC.
More information about Viridium can be found under the Company’s profile on SEDAR at www.sedar.com.
INOPHA GmbH is a producer and distributor of premium pharmaceutical products. INOPHA takes advantage of the price differentials for pharmaceuticals in the Europe market through approved import of innovative brand-name products from other European countries. INOPHA, thus, not only offers customers high-quality pharmaceuticals at attractive prices, but also helps reduce healthcare costs. INOPHA’s competencies lie in the procurement and distribution of products. Distribution, as is customary in the sector, is handled by pharmaceutical representatives working in the individual federal states. These representatives present products to selected local oncologists and pharmacies, which supply the local specialist oncological practices and hospital pharmacies.
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This press release contains forward-looking information within the meaning of Canadian securities laws. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.
Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, forecast, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Company’s equity securities; recent market volatility; the Company’s ability to raise the necessary capital or to be fully able to implement its business strategies; the risks identified in the Filing Statement, and other risks and factors that the Company is unaware of at this time. The reader is referred to the Filing Statement dated September 25, 2017 and/or the most recent annual and interim Management’s Discussion and Analysis for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through the Company page on SEDAR at www.sedar.com.
SOURCE: Viridium Pacific Group Ltd.