SOURCE: Advanced Extraction Systems Inc.

Advanced Extraction Systems Inc.

June 21, 2016 06:00 ET

Advanced Extraction Systems Inc. Finalizes Sale of Industrial Scale CO2 Supercritical Fluid Cannabis Extraction System to Industry Leading Producer

CHARLOTTETOWN, PE--(Marketwired - June 21, 2016) - Advanced Extraction Systems Inc. (AESI) is pleased to announce the completion of an agreement with Canopy Growth Corporation (Canopy Growth) (TSX VENTURE: CGC) to build a custom made CO2 Supercritical Fluid Extraction System for the purpose of producing high-quality cannabis extracts on an industrial scale.

"Our CO2 extraction systems will enable large-scale production of highly-defined, contaminant‐free, oil-extracts for the global medical marijuana industry. Unlike organic solvent extraction methods, CO2 extraction is clean and green and is quickly becoming the gold standard for residual-free cannabis extracts," stated AESI Chief Operating Officer, David Campbell.

"This partnership is unique in that AESI's scientific team will be able to work with Tweed and Bedrocan's extraction team to optimize extraction conditions, increase overall productivity, and demonstrate the potential of sophisticated CO2 extraction systems to produce defined natural product compositions at an industrial scale under cGMP conditions," said AESI's Scientific Advisory Board Chairperson, Dr. Janice Thompson.

"Our extracted oil products have been very popular since being launched to our medical customers earlier this year. Looking forward to a broader legal marijuana market, we know we'll need greater capacity and AESI's industrial-scale technology will help us meet the growing demand we're forecasting," said Bruce Linton, Chairman & CEO, Canopy Growth.

AESI is the first and only Canadian company currently designing and manufacturing competitively priced, modular, expandable and automated supercritical fluid CO2 extraction equipment for the medical marijuana industry in Canada. AESI is currently expanding to U.S. and Latin American markets. AESI's manufacturing partner- Diversified Metal Engineering LP is a full service, CRN, ASME, ISO 9000 Certified engineering and fabrication facility with over 25 years experience in the manufacturing of complex commercial scale pressure systems.

Canopy Growth was the first federally regulated, publicly traded medical marijuana company in North America. Canopy Growth will use AESI's system to produce cannabis extraction-based products for customers of its wholly owned subsidiaries Tweed Inc. and Bedrocan Canada Inc.

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