SEATTLE, WA--(Marketwired - Apr 4, 2017) - CFN Media Group, the leading creative agency and digital media network dedicated to legal cannabis, announces the publication of an article discussing the planned legalization of cannabis in Canada, the growing and urgent need for testing in both the existing and upcoming legal cannabis markets, and Abattis Bioceuticals Inc.'s (CSE: ATT) (OTCQB: ATTBF) role via the company's federally-licensed subsidiary, Northern Vine Labs.
According to the CBC, the Canadian government has plans to introduce legislation by April 10, 2017 and legalize the drug by July 1, 2018. The new rules generally follow the recommendations of the federal task force chaired by Anne McLellan, a former justice minister, which included 80 different recommendations in over 100 pages.
According to Markets and Markets, the global cannabis testing market is expected to grow at an 11.5% compound annual growth rate to $1.42 billion by 2021. Cannabis laboratories test for potency, purity, and details like terpene counts, which are both required by lawmakers in the U.S. and Canada and demanded by consumers. This is particularly true after a string of pesticide and contamination scandals that led to several pending class action lawsuits.
Abattis Bioceuticals' Northern Vine Labs plans to open its doors in April 2017 to serve the rising demand for cannabis testing. The facility will be one of the only testing facilities in the lower mainland of British Columbia and one of just 18 approved facilities in Canada. The company plans on testing for any approved patients or licensed producers for potency, constituency, microbial, foreign matter, and others for dried marijuana, oils and edibles.
The company recently added Jaclyn Thomson, PhD, and Dr. David Galvez, PhD, to its senior management team and advisory board, respectively. Ms. Thomson will join the team and be responsible for lab operations and testing protocols by leveraging years of experience in lab operations and academia. In prior roles she oversaw quality assurance, scientific, and regulatory consultation and research activities, among other things.
Dr. Galvez will work with the company to analyze and identify superior strains, extraction methods, and formulations for its programs. Northern Vine Labs' Controlled Substance License enables proprietary methods and services to be offered to current licensed producers within Canada's existing Federal regulatory structure. It also offers Northern Vine Labs' customers, including Abattis, the ability to perform R&D on cannabis and explore unique formulations for licensed producers. Dr. Galvez's prior roles included Director of Research & Development at ZAG Global where he launched several commercial products.
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