11:38:54 EDT Mon 15 Jul 2024
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Discover Wellness Solutions Inc
Symbol WLNS
Shares Issued 52,942,036
Close 2021-02-05 C$ 0.42
Market Cap C$ 22,235,655
Recent Sedar Documents

Discover Wellness receives licence to sell hemp

2021-02-08 10:53 ET - News Release

Mr. Manish Grigo reports


Discover Wellness Solutions Inc. has received an industrial hemp licence, effective until Feb. 5, 2024, to sell industrial hemp.

Under the licence, the company can sell industrial hemp as grain, flowering heads, leaves or branches. Additionally, the company can import or export seed and grain. The industrial hemp licence is important to the company's distribution strategy because industrial hemp is a classification for cannabis plants with lower than 0.3 per cent tetrahydrocannabinol. The company is focused on a wellness strategy that is all about delivering the benefits of cannabidiol without the psychoactive properties.

"The industrial hemp licence is important to the company's distribution strategy as it dramatically reduces the regulatory overheads on industrial hemp flower, grain and seeds sales, and fits in well with our cost leadership strategy," commented Peter Cheung, interim chief executive officer and chief financial officer.

About Discover Wellness Solutions Inc.

Discover Wellness (formerly RMMI Corp.) is a Canadian company licensed, through its subsidiary, to cultivate, produce, process and sell cannabis in various forms. The company's vision is to enhance shareholder value by establishing cost leadership in hemp processing and CBD extraction coupled with a global distribution strategy.

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