#Cannabis
Stock News: Algae Dynamics Corp (OTCQB: $ADYNF) Revised Business Strategy To
Include Product Development Using Other Botanicals Such As Cannabis And Hemp
TORONTO, CANADA - March 30, 2017 (Investorideas.com Newswire) ALGAE
DYNAMICS CORP (OTCQB: ADYNF) (the "Company" or "ADC"), a development stage
company previously focused solely on commercialization of its proprietary
BiloSilo™ system for the cultivation of highly-pure algae biomass, today
announced a formal re-alignment of its business focus and strategy.
The Company had previously announced, in December 2016, that it was
considering ways to capitalize on synergies between its focus on algae
cultivation and algae oil extraction, and oil extractions from other botanicals
such as cannabis and hemp. The result of these efforts is a new strategy to
develop unique health and nutraceutical products utilizing cannabis, hemp and
algae oils. Management believes that this strategy engenders both an immediate
product development opportunity leading to near-term revenue and a longer-term
vertically-integrated sustainable enterprise approach.
The revised strategy resulted in a seven-step program for 2017 aimed at
rapid implementation of this strategy, as follows:
- Research Agreement with University of Waterloo to investigate the
use of cannabis oil in the context cancer - $600,000, three-year program
(signed February 24, 2017).
- Research Agreement with University of Western Ontario to
investigate the use of cannabis derivatives for the development of novel
pharmacotherapies for mental health - C$1,000,000, four-year program
(signed March 13, 2017).
- Collaboration Agreement with ARA – Avanti Rx Analytics, a company
approved by Health Canada, to extract, purify, manufacture, sell,
import/export medical marijuana products (signed March 15, 2017).
- Sign supply agreements with cannabis producers, licensed by Health
Canada.
- Select location suitable for future cannabis production.
- Apply to Health Canada for licence to produce, sell, import/export
medical cannabis.
- Develop collaboration opportunity with pharmaceutical company.
Paul Ramsay, Chairman and President of the Company said, "We
believe this revised corporate strategy will allow us to build value for all stakeholders
over both the near and longer terms. In the short-term we are fast-tracking to
revenue growth. In the longer term, we believe we have a sustainable
enterprise-building opportunity in a rapidly expanding market."
The full slide deck is available at: http://www.algaedynamics.com/files/ADC-Company-PPT-March-28-2017.pdf
Read this release in full at http://www.investorideas.com/CO/ADYNF/news/2017/03301Strategy.asp or http://www.investorideas.com/420cannabisinvestorideas/
About Algae Dynamics Corp
ADC is currently engaged in the development of unique health products
and pharmaceuticals that utilize hemp, cannabis and algae oils. This is an
extension of our plan to commercialize our proprietary BioSilo(R) algae
cultivation system for the high volume, low cost production of pure
contaminant-free algae biomass which is high in Omega-3 fatty acids. We have
engaged two Canadian universities to provide research into the use of extracts
from cannabis oil, which we plan to use to develop products that combine the
significant health benefits of Omega-3s derived from algae oil and extracts
from cannabis oil. Our research is focusing on the use of cannabis oil in the
context of cancer, and the use of cannabis derivatives for the development of
novel pharmacotherapies for mental health.
NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" as
that term is defined in Section 27A of the Securities Act and Section 21E of
the Securities Exchange Act of 1934, as amended. Statements in this press
release which are not purely historical are forward-looking statements and
include any statements regarding beliefs, plans, expectations or intentions
regarding the future. Such forward-looking statements include, among other
things, use of proceeds and the development, costs and results of current or
future actions and opportunities in the sector. Actual results could differ
from those projected in any forward-looking statements due to numerous factors.
Such factors include, among others, the inherent uncertainties associated with
new projects and development stage companies, our ability to raise the
additional funding we will need to continue to pursue our exploration and
development program, and our ability to retain important members of our
management team and attract other qualified personnel. These forward-looking
statements are made as of the date of this news release, and we assume no
obligation to update the forward-looking statements, or to update the reasons
why actual results could differ from those projected in the forward-looking
statements. Although we believe that any beliefs, plans, expectations and
intentions contained in this press release are reasonable, there can be no assurance
that any such beliefs, plans, expectations or intentions will prove to be
accurate. Investors should consult all of the information set forth herein and
should also refer to the risk factors disclosure outlined in our annual report
on Form 10-K for the most recent fiscal year, our quarterly reports on Form
10-Q and other periodic reports filed from time-to-time with the Securities and
Exchange Commission.
FOR MORE INFORMATION, PLEASE CONTACT:
ALGAE DYNAMICS CORP (OTCQB: ADYNF) is a featured company on the 420
Cannabis Investor Ideas of 2017 at www.420cannabisinvestorideas.com
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