Ms. Judy-Ann Pottinger reports
EXPERION HOLDINGS LTD ANNOUNCES Q2 RESULTS AND PROVIDES CORPORATE UPDATE
Experion Holdings Ltd., formerly Viridium Pacific Group Ltd., has released its Q2 financials and a corporate update.
Experion has now filed its Q2 2019 consolidated interim financial statements, and management discussion and analysis for the six months ended May 31, 2019, on SEDAR.
Business update -- domestic and international market development
In January, 2019, the company begun to sell clones to newly licensed standard cultivators looking for quality genetics to launch its cultivation process. The sales expand Experion's product line with clones exhibiting the desired specifications and attributes for both the medical and adult-use market. Under the Cannabis Act, a cultivation licence can sell product to other licensed facilities fostering new business-to-business relationships and the ability to create quick strategic partnerships as the market becomes established. All starting materials sold as clones to other cultivators have a flower buyback program with Experion. As well, Experion can also sell clones for medical purposes to qualified individuals as a licensed medical supplier.
In June, 2019, Experion signed a non-binding letter of intent with a Polish import and distribution company to export medical flower products to Poland. Under the executed LOI, Experion will export medical flower products to Poland for scientific purposes enabling the Polish company to test and develop Experion's flower products. After the successful completion of this testing, Experion will export its flower products to Poland for consumer medical use. Experion is currently working toward European Union good manufacturing practice certification of its Mission facility in British Columbia, which will allow the export of cannabis to the EU for medical consumption. Experion is actively seeking export opportunities in Europe and plans to continue to build its international distribution chain.
During the current period, Experion continued to strengthen is executive team and appointed Kamini Hitkari to the position of chief financial officer. The company also hired Judy-Ann Pottinger to provide comprehensive investor relations and corporate communications services.
On June 10, 2019, Experion changed its name from Viridium Pacific Group Ltd. to Experion Holdings Ltd. and changed its trading symbol from VIR to EXP on the TSX Venture Exchange. A focused brand strategy, under one corporate brand, will bring alignment to the market and the company's shareholders. It will allow Experion to better communicate its value proposition as management works to unlock value and communicate its accomplishments to the market and stakeholders. On June 19, 2019, the company began trading on the United States listing OTCQB venture market under the trading symbol EXPFF .
Also, in June, 2019, Experion welcomed Joel Dumaresq and Bill Dickie to the board of directors; while accepting at the same time the resignations of Sean MacNeil, Michael Kohut and Ben Eastwood. Management is confident that Experion's board will bring substantial financial oversight and business advisory experience to help the company grow and achieve its strategic objectives.
All of the Experion's developments and announcements herein have been published as press releases on Experion's website.
About Experion Holdings Ltd.
Experion Holdings is the parent company of Experion Biotechnologies Inc., a Health Canada licensed cultivator and processor of cannabis, based in Mission, B.C.; and EFX Laboratories Inc., a medical products production and clinical research company based in Calgary, Alta.
Experion Holdings is invested in a portfolio of products to address a wide spectrum of consumer needs, including medical, adult-use, and wellness and therapeutic products.
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