PARIS, ONTARIO--(Marketwired - Dec. 19, 2016) - Emblem Corp. (TSX VENTURE:EMC)(OTCQB:EMMBF) (the "Company") is pleased to announce that it has received confirmation from Health Canada that its license under the ACMPR will be amended to permit the production of cannabis oils.
"This is an incredibly important milestone for us as a company," says Gordon Fox, CEO of Emblem Corp. "With our ability to extract cannabinoids we can now actively execute the business plan we've built for our pharmaceutical division."
"Cannabinoids have real therapeutic value, as evidenced by the products Cesamet, Marinol and Sativex all having been approved as prescription drugs by Health Canada," says John H. Stewart, CEO of Emblem Corp's. pharmaceutical division. In addition, there have been numerous reports published in the scientific literature pertaining to the medical use of cannabinoids - with evidence of efficacy in patients with chronic pain, multiple sclerosis, nausea, neuropathic pain, PTSD and wasting syndrome.
"The active components in cannabis will be extracted, purified and incorporated into advanced formulations, in order to enhance their therapeutic utility," adds Stewart.
Emblem Corp. has invested over $1 million CAD to date into its extraction and purification platform including a supercritical CO2 extractor, purpose built rooms, and analytical equipment.
Emblem has stockpiled a significant amount of both bud and trim for extraction and is pleased to announce that, in addition to those rooms in its current facility that will be licensed for extraction under this amendment, Emblem plans to construct a 2,500 sq. ft. dedicated extraction and formulation development laboratory on its property in Paris, ON. Additionally, Emblem has hired three scientists to work exclusively in this division to pursue the development and manufacture of advanced dosage forms of cannabinoids.
This license amendment will enable Emblem to better serve patients by providing a broad range of cannabis products.
About Emblem Cannabis
Emblem is licensed under the Access to Cannabis for Medical Purposes Regulations (the "ACMPR") to cultivate and sell medical marijuana. Emblem carries out its principal activities producing marijuana from its facilities in Paris, Ontario pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations.