BURLINGTON, ON, Nov. 9, 2021 /CNW/ – Instadose Pharma Corp. (“Instadose Pharma Canada”, “Instadose” or the “Company”), a global wholesale cannabinoid company has secured an import permit (the “Import Permit“) from the Agency for Medicines and Medical Devices of the Republic of Macedonia (“MALMED“) for the shipment of 2,125 kg of medical cannabis out of Southern Africa (the “Southern Africa Cannabis“). The Import Permit was issued on November 8, 2021 to Instadouz Farma Doo (“IDP Macedonia“), Instadose Pharma Canada’s 50%-owned subsidiary in North Macedonia.
“This is the second import permit we have received in North Macedonia to ship medicinal cannabis out of Southern Africa. We are continuing to make tremendous progress, as promised, to our shareholders. This is only the tip of the iceberg relative to our potential, not only for our program in Macedonia, but with all our partners around the world. We as a company want to be judged on our accomplishments not our projections. I am very proud of what we have achieved to this point and very confident with what is to come.” Grant F. Sanders, Chairman, Instadose Pharma Canada.
A supply agreement governing the Southern Africa Cannabis was entered into between IDP Macedonia and its licensed contracted grower of Southern Africa Cannabis on July 21, 2021 (the “Southern Africa Supply Agreement“). The Southern Africa Supply Agreement governs the supply of Southern Africa Cannabis bearing THC-content levels as high as 17.98%.
The Import Permit was issued by MALMED in accordance with article 49 paragraph 1, article 50 and article 51 of the Control of Narcotics and Psychotropic substances (Official Gazette of RM, No 103/08, 124/10, 164/13 and 149/15) and the International Conventions on Narcotic Drugs and Psychotropic Substances.
Delivery of the Southern Africa Cannabis to IDP Macedonia is scheduled to be completed before December 31, 2021.
About Instadose Pharma Canada
Instadose Pharma Canada is establishing a large commercial outdoor growing, cultivation, production and global distribution platform for medicinal cannabis and cannabinoid oil (the “Global Distribution Platform“). Instadose Pharma Canada endeavors to utilize the Global Distribution Platform to open the commercial gateway to a new wholesale marketplace capable of providing pharmaceutical industry companies with large, sustainable, consistent, diverse, and low-cost supplies of high-quality medicinal cannabis and cannabinoid oil for use in bulk as an active pharmaceutical ingredient. Instadose Pharma Canada’s Global Distribution Platform spans five (5) world continents to date, including Africa, Europe, Asia, South America, and North America. Within each continent, Instadose Pharma Canada is establishing operational subsidiaries and joint venture partnerships to secure access to government-issued licenses and permits in countries including The Democratic Republic of the Congo, the Republic of North Macedonia, the Portuguese Republic, the Republic of India, Colombia, Mexico, and Canada, each seeking to increase their level of participation within the global medicinal cannabis industry.
Instadose Pharma’s relationships with international partners are based on sustainable, long-term agreements that were initially designed to give back to people and protect the natural environment. Instadose Pharma’s projects aim to increase the quality of life, provide jobs, fresh water, education, food security and capital.
Instadose Pharma U.S.A. anticipates closing its plan of arrangement transaction with Instadose Pharma Canada on or about November 15, 2021 (the “Arrangement“). The Arrangement is being completed under the Business Corporations Act (British Columbia), pursuant to which Instadose Pharma U.S.A. will acquire all of the issued and outstanding common shares (the “Shares“) of Instadose Pharma Canada. The consideration to be paid for each Share shall be 1.34 common shares of Instadose Pharma U.S.A.
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This press release contains forward-looking statements and forward-looking information (collectively “forward-looking information”) within the meaning of applicable securities laws relating to the Company’s plans and other aspects of our anticipated future opportunities. Forward-looking information typically uses words such as “anticipate”, “believe”, “continue”, “trend”, “sustain”, “project”, “expect”, “forecast”, “budget”, “goal”, “guidance”, “plan”, “objective”, “strategy”, “target”, “intend”, “estimate”, “potential”, or similar words suggesting future outcomes, statements that actions, events or conditions “may”, “would”, “could” or “will” be taken or occur in the future, including statements about our plans, focus, objectives, priorities and position. In particular, and without limiting the generality of the foregoing, this press release contains forward-looking information with respect to our upcoming shipments of Medical Cannabis. The forward-looking information is based on certain key expectations and assumptions made by our Board and Management. Although we believe that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature they involve inherent risks and uncertainties. Our actual results, performance or achievement could differ materially from those expressed in, or implied by, the forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that we will derive therefrom. Management has included the above summary of assumptions and risks related to forward-looking information provided in this press release in order to provide security holders with a more complete perspective on our future operations and such information may not be appropriate for other purposes. Readers are cautioned that the foregoing lists of factors are not exhaustive. These forward-looking statements are made as of the date of this press release and we disclaim any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events, or results or otherwise, other than as required by applicable securities laws.
SOURCE Instadose Pharma Corporation
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