TORONTO, April 28, 2022 (GLOBE NEWSWIRE) — Franchise Global Health Inc. (“Franchise Global” or the “Company”) (TSXV: FGH) is pleased to announce the Company’s wholly owned Danish subsidiary, Rangers Pharmaceutical A/S (“Rangers”), has successfully established Europe’s first legal and registered seedbank in Copenhagen, Denmark. In 2021 it received a third-party audited value of C$9.5 million.
The seedbank, which is arguably the largest globally, and the 286 strains held within, including several world-class genetics and winners of 19 Cannabis Cups, is a key component to Franchise Global’s IP strategy and exemplifies Franchise Global’s long-standing heritage to premium quality. The seedbank is licensed to store, sell and export cannabis seeds globally under legal international trade frameworks and import/export permits.
Franchise Global has decided to offer a number of strains to the market and has subsequently signed numerous seed purchase orders and strategic agreements with many emerging cannabis cultivators and wholesalers to further expand global commercialization opportunities. These orders will be fulfilled in the coming quarters, creating a new source of revenue for the Company and solidifying new global strategic alliances. Franchise Global will retain its most distinguished strains for its own internal flower production for global markets.
Franchise Global Executive Chairman and CEO, Clifford Starke, said: “Our goal is to become Europe’s most trusted source of high-quality EU-GMP cannabis. This will be achieved in part by establishing our seedbank as a source for high-quality, Cannabis-Cup winning genetics. Essentially this is 30 years worth of IP from land races all around the world with strong genetic heritage including from Thailand, Colombia and other highly sought after sources of origin.”
About Franchise Global
Franchise Global, through its subsidiaries, is a multi-national operator in the medical cannabis and pharmaceutical industries, with principal operations in Germany and with operations, assets, strategic partnerships and investments internationally. Franchise Global’s business objective is to develop a fully-integrated, leading European medical cannabis business, with the goal of providing high-quality pharmaceutical grade medical cannabis to distribution partners and, ultimately, to patients, at competitive prices.
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Franchise Global Health |
Via Buchanan |
| Media Enquiries Buchanan Jamie Hooper / Ariadna Peretz |
Tel: +44 (0) 20 7466 5000 FGH@buchanan.uk.com |
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This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction, including in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Cautionary Statement Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws, including without limitation statements regarding the business of Franchise Global and its prospects. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information is based on management’s current expectations, estimates, beliefs and/or opinions and is based on information currently available to them (including information obtained from third party industry analysts and other third-party sources) and on assumptions they believe not to be unreasonable in light of all of the circumstances. By its nature, forward-looking information is subject to both known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and uncertainties include, without limitation, risks relating to general economic conditions, counterparty risk, regulatory factors, the financial markets generally and risks associated with growth and competition. Accordingly, readers are cautioned to not place undue reliance on forward-looking information. Please refer to the filing statement of the Company available on the Company’s SEDAR profile at www.sedar.com for more details on the risks and uncertainties faced by Franchise Global. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement, and the Company undertakes no obligation, and does not intend, to update any forward-looking information contained in this news release, whether as a result of new information, future developments, or otherwise, except as otherwise required by applicable law.
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Source: Globenewswire