VANCOUVER, BRITISH COLUMBIA, September 29, 2020 – EXMceuticals Inc. (CSE: EXM) (FSE: A2PAW2) (OTCQB:EXM…, (the "Company" or "EXM"), an emerging bio-sciences company specializing in the production of unique cannabinoid formulations, is pleased to announce its membership to The Portuguese Association of the Pharmaceutical Industry – APIFARMA.
After an extensive diligence period, EXMceuticals Portugal has been accepted to become a member of the Portuguese Association of the Pharmaceutical Industry (APIFARMA). EXM’s interests will now be represented by an Association that brings together industry, development initiatives and the broader health community. The Association helps to nurture innovation, promote resilient regulatory systems, maintain high standards of quality, uphold ethical practices and advocate sustainable health policies to meet patient and health system needs. This is timely as the Portuguese government has designated the broader health sciences industry to be one of national strategic focus, as well as a priority for the economic rebuild and planned re-industrialisation post-COVID 19.
“We are obviously thrilled to become a member of APIFARMA” commented Jonathan Summers, EXM’s CEO “and this underlines the huge amount of work the operational team in Portugal has done as well as the significant changes and advancements the company has made in recent months. In late 2019 the decision was made to cancel our plans for in-house cannabis cultivation, and to focus activities solely in Portugal on R&D, extraction, purification, refining and formulation. This news, and the recent landmark grant for COVID research from the European Union, are real milestones on our journey of our transformation to a pure bio-sciences company.”
Founded in 1975, APIFARMA represents more than 120 companies operating in Portugal and is responsible for the production and import of drugs for human and veterinary use, serums, vaccines, active substances for use in medicines and in vitro diagnostics. APIFARMA’s mission is to encourage the development of new therapies that respond to the evolving needs of patients and prevent new pathologies, as well as making new medicines available that continually improve health and quality of life. Through APIFARMA, the Portuguese Pharmaceutical Industry upholds the highest ethical and quality standards in addition to promoting social responsibility and the solidarity of the industry. APIFARMA's also defends and promotes the interests of its members, covering all relevant areas of activity from R&D to production.
ON BEHALF OF THE BOARD OF DIRECTORS OF EXMCEUTICALS INC.
Jonathan Summers, Chairman and Chief Executive Officer
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EXM's core activities are centred around the strategic matching of natural bioactive ingredients extracted from the cannabis plant with the needs of the nutraceutical, cosmeceutical, and therapeutic industries. EXMceuticals Portugal, obtained from INFARMED in November 2019, possesses unique authorization for cannabis importation and research and development at its specially equipped laboratory in Lisbon, Portugal. EXM's team comprises highly qualified scientific and management professionals covering all areas demanded by the cannabis industry - organic and analytical chemistry, biology, biochemistry, genetics, compliance, IP, partnerships, and legal and regulatory issues.
EXM is in the final stages of detailed planning for an industrial-scale pharmaceutical standard facility in Portugal which will complement its existing R&D lab and pilot refinery. An existing property has been secured in Setubal, south of Lisbon, which requires retro-fitting to EU-GMP / API standards. Once complete, the facility will contain extraction, purification, and refining capabilities, as well as a Q&A laboratory. Once built, we believe the Setubal facility will be the largest cannabinoids and terpenes extraction, purification, and refining facility in the European Union.
The refinery will be able to process cannabis biomass, extracts, and distillates from Portugal, as well as from international sources where the regulatory import requirements of INFARMED have been met. EXM has multiple MOU's in place which will ensure the refinery can be operated to initial capacity from day 1 and then scaled further. This refinery, once licensed, will distribute medical cannabis ingredients on a B2B basis, to produce API's and cannabis-based compounds in a reliable, consistent, and standardized process. EXM targets and maintains the highest certification standards to meet the needs of the pharmaceutical, nutraceutical, and cosmetic industries worldwide.
Neither the CSE nor the FSE has approved nor disapproved of the contents of this news release. Neither the CSE nor the FSE accepts responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be", "expected", "proposes", "intends" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the Company's business operations, the extraction of cannabis ingredients and the exportation of the extracts, the results of testing at our facilities established for the European market, future laws and regulations governing the sale of our products in Europe and elsewhere, and the potential to generate sales, and completion of a Qualifying Financing, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of EXM to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. EXM will not update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.
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