Mr. Jagdip Bal reports
START UP MATERIALS SECURED FOR PRODUCTION
Umbral Energy Corp.'s PhyeinMed Inc., a Health Canada late-stage applicant under the ACMPR (access to cannabis for medical purposes regulations), has signed an agreement
with CanGenX BioTech Inc. to
undertake plant tissue culture as its production basis.
provides advanced production technologies to the legal medical cannabis industry. PhyeinMed expects that applied science can be used to gain a competitive edge in this newly regulated marketplace.
This is done using T-issue culture micropropagation, which can take one plant and multiply it into thousands within a few months, allowing PhyeinMed to take its best-performing plants and replicate them to fill their entire production system. The intended result is to create genetically uniform, robust and disease-free starting plant material, and thereby eliminating traditional propagating methods which are subject to genetic variability, reduced germination and survival rates, and can contain disease. CanGenX facilitates the supply of high-volume tissue culture starter plants in house with the purpose of permitting PhyeinMed to produce the safest cannabis possible.
Debra Senger, chief executive officer of PhyeinMed, stated: "We are excited to move forward with CanGenX as we expect it to deliver us many benefits including uniformity of crop, quicker propagation, and a savings of cost and time in production. In this new competitive market, we are aiming to be a quality producer while focusing on optimizing returns in our operations."
In addition, CanGenX will consult on the set-up of a propagation lab facility as well as supplying proprietary strain-specific media to PhyeinMed on demand.
About Umbral Energy Corp.
Umbral Energy is currently listed as
a junior resource issuer having mineral exploration projects. The company is considering other activities to increase shareholder value, including non-resource projects. The company has a mineral exploration project in Quebec. In addition, the company has a 75-per-cent interest in PhyeinMed, a
Health Canada late-stage applicant under the ACMPR.
We seek Safe Harbor.
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