TORONTO, Jan. 05, 2022 (GLOBE NEWSWIRE) — RAMM Pharma Corp., including its wholly owned subsidiaries, the “Company” or “RAMM”) (CSE: RAMM), a leader in plant-derived cannabinoid pharmaceutical products, applauds France’s new regulatory framework for the sale of cannabidiol (“CBD”). Pursuant to the recent announcement, France will allow the utilization of the whole hemp plant, including flowers and leaves, for the industrial production of extracts by setting the THC limit to 0.3% in both bulk extracts and final products, without any limitation for other cannabinoids. The French Health Ministry’s ordinance, published on Friday 31 December, 2021 in the Journal Officiel, provides a new regulatory framework for the sale and trading of hemp extracts.
The ordinance is published at the following link: https://www.legifrance.gouv.fr/jorf/id/JORFTEXT000044793213.
Further coverage is available at the following link: https://www.lemonde.fr/societe/article/2021/12/31/la-france-clarifie-sa-position-sur-le-cbd-en-interdisant-la-vente-de-fleurs-et-de-feuilles-de-chanvre_6107809_3224.html.
“2022 begins with breakthrough news as it finally clarifies and opens the market for extracts and CBD in France. This opens a scenario that has been long awaited in Europe and is expected to provide a domino effect for other European Member States to follow suit”, stated Jack Burnett, Chief Executive Officer, RAMM Pharma Corp.
According to the new ordinance, which complements the Decree of 22 August 1990, “flowers and leaves of the varieties [Cannabis sativa L.] can be harvested, imported or used for the industrial production of extracts”. This is an epochal step forward for the European Market because, on one hand, it represents the full implementation of the indications derived by the European Court of Justice’s position in the famous Kanavape case and, on the other hand, it is issued by a European Union leader member state, France, that had so far taken a strongly restrictive stance on hemp and its derivatives. France is the second largest country in the EU behind Germany with a population of over 68 million people. The total EU CBD market value was € 1.6 billion in 2020 and is projected to grow to €8.7 billion in 2030 (EU Hemp Market Report, HIS Markit).
Through its 100% ownership of Canapar Corp., RAMM is well positioned to become one of Europe’s largest vertically integrated cannabis companies. Canapar’s state-of-the-art extraction facility located in Sicily, Italy is the largest in Europe and has been custom designed to produce active compounds to be used in high-quality pharmaceutical, wellness, food and cosmetic products from its 1,000-hectare organic hemp production and processing platform.
RAMM’s strategic foothold in Europe also provides growing distribution opportunities for RAMM’s portfolio of internationally registered cannabis-based products produced at its state-of-the-art GMP certified facility in Montevideo Uruguay which is ideally situated within close proximity to an international airport and other export hubs. This 36,000 sq.ft. facility features dedicated cannabis and medical product laboratories along with packaging capabilities and storage/distribution facilities.
About RAMM Pharma Corp.
RAMM Pharma is a leader in the field of cannabinoid pharmacology and product formulation for cannabis-based pharmaceuticals and other cannabis-based products with a unique and diversified international production and sales platform. The company operates an established pharmaceutical and medical product business in Uruguay that has developed several medically registered and approved plant-derived cannabinoid pharmaceutical products that have been authorized for sale and/or compassionate use in several Latin American countries. RAMM also has a pipeline of new products, including registered cannabis-based nutrition and specialized veterinary products, in various stages of approval and development, which are produced at the company’s state-of-the-art, good-manufacturing-practice-certified cannabis formulation facility in Montevideo, Uruguay.
In Europe, RAMM’s vertically integrated operations are based in Ragusa, Italy, and include: a hemp cultivation platform; a large extraction and processing facility (in the final stages of commissioning) to produce an extensive line of cannabidiol formulations, APIs (active pharmaceutical ingredients) and wellness products.
RAMM Pharma includes wholly owned subsidiaries Canapar Corp., Medic Plast SA, Yurelan SA, Glediser SA and RAMM Pharma Holdings Corp.
Additional information about the Company is available at www.rammpharma.com.
For further information, please contact:
Antonio Caruso
Chief Operating Officer of Canapar, SRL
+39 331 188 5927
info@rammpharma.com
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information“ and “forward-looking statements“ (collectively, “forward looking statements“) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward looking statements relate, among other things, the Company’s strategies and objectives, and future expansion plans.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the expected benefits to RAMM of France’s new regulatory framework for the sale of CBD; fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the Uruguayan, Latin American, and international medical and recreational cannabis markets and changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution and sale of cannabis and cannabis related products in Uruguay or internationally; and employee relations. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Source: Globenewswire