On June 4, 2020, Purileaf reached a key milestone in its business strategy by obtaining a Health Canada License to sell all categories of final cannabis products including dried flower, cannabis extracts, edibles and topicals to the Canadian adult-use market. Sales of products within select categories will commence in September, 2020. Purileaf’s product formats will be manufactured at its existing facility in Niagara Falls, Ontario. To date, Purileaf has submitted 4 SKUs for approval, including edibles and extracts. Requests for approval of additional SKUs will be submitted in the upcoming months. In addition to supporting the launch of Purileaf’s own products, the sales license will enable Purileaf to expand its co-manufacturing services to established, consumer-focused brands that do not hold licenses under the Cannabis Regulations.
On February 21, 2020, Purileaf received a Research & Development license from Health Canada. This license is key to Purileaf’s long-term growth strategy of developing proprietary cannabinoid formulations and delivery systems for commercialization in the global medical market. By securing this license, Purileaf significantly expanded its R&D capabilities, as it may be extended to partnering R&D organizations and gives company the opportunity to import/export cannabis products for R&D purposes.
As of February 27, 2020, Purileaf has been authorized to perform in-house analytical testing activities on cannabis and derivative products. This license enables Purileaf to implement pharmaceutical testing standards and ensure the manufacture of its cannabis formulations are GMP compliant. The analytical testing license also complements Purileaf’s LP Services division by allowing the company to perform in-house testing of co-manufactured product for its clients, removing the need to send product to third-party laboratories prior to release.
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