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Sproutly Canada Inc
Symbol SPR
Shares Issued 191,051,560
Close 2019-06-20 C$ 0.73
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Sproutly competes first run of APP extraction process

2019-06-20 08:40 ET - News Release

Mr. Keith Dolo reports

SPROUTLY ANNOUNCES FIRST RUN OF PROPRIETARY APP EXTRACTION PROCESS

Sproutly Canada Inc. has successfully completed the first run of the proprietary aqueous phytorecovery process (APP) extraction technology licensed from Infusion Biosciences Inc. at its wholly owned Toronto Herbal Remedies Inc. (THR) licensed facility. This initial APP run successfully recovered both water-soluble cannabinoids (Infuz2O), with onset of effects within approximately five minutes and which dissipate within approximately 90 minutes, and oil-based cannabinoids (bio natural oil), a strain specific cannabis oil. The initial Infuz2O and bio natural oil recovered is expected to be used for research and development and product formulation purposes for cannabis beverages and edibles within the proposed regulations recently announced by Health Canada.

The company has previously announced it has entered into a definitive agreement with OCC Holdings Ltd., an affiliate of Moosehead Breweries Ltd., to form an exclusive joint venture to develop, produce and market non-alcoholic cannabis-infused beverages. The Infuz2O recovered in this initial APP run will be utilized in the product formulation and shelf-stability testing of fast-onset cannabis beverages to be produced and marketed by the joint venture within the proposed regulations recently announced by Health Canada. The company is currently working diligently toward completing the shareholder agreement and joint venture documents, which will be announced in due course.

In addition, the bio natural oil recovered is expected with Infuz2O to develop and formulate fast-acting and long-lasting edible products for the Canadian market within the proposed regulations recently announced by Health Canada.

"Sproutly has made significant progress towards building a world-class cannabis beverage and edibles company since going public in July of last year," said Keith Dolo, chief executive officer and director. "The successful completion of our first run of the APP extraction technology in Canada marks a major milestone for our company and brings us another step forward in achieving our goal of becoming a leader in the cannabis infused product space."

About APP technology

APP technology is a patent-pending process that uses proprietary reagents to gently recover naturally occurring water-soluble cannabinoids as well as the cannabis oils. This ground-breaking discovery delivers the total effects of the strain of cannabis from which it is made; on-set effects start within approximately five minutes and dissipate within approximately 90 minutes, which is more similar to drinking a glass of wine or a beer than consuming traditional cannabis oils.

About Sproutly Canada Inc.

Sproutly's core mission is to become the leading supplier to the cannabis beverage and edibles market. Its Toronto based, ACMPR-(access to cannabis for medical purposes regulations)-licensed facility was built to cultivate pharmaceutical grade cannabis to supply a technological breakthrough in producing and formulating the first natural, truly water-soluble cannabis solution.

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