Updated: May 11, 2020
Initial lab results indicate Ikänik's Colombian production processes support stringent European pharmaceutical regulations
CORONA, CA, Nov. 25, 2019 /CNW/ - Ikänik Farms, Inc. (the "Company" or "Ikänik") is pleased to announce that Ikänik International, Inc. ("Ikänik International"), represented by its medical division in Colombia, Pideka SAS ("Pideka"), a wholly owned subsidiary of the Company, has successfully completed initial heavy metals analysis of flower samples grown at "Casa Flores", the Company's state-of-the-art 80,000 sq. ft. cannabis camp located in Tocancipá, Colombia, currently under construction.
"We are pleased to present passing results from our initial heavy metals testing, which brings us one step closer to a commercially viable, pharmaceutical grade product," said Borja Sanz de Madrid, President of Ikänik International.
The analysis was conducted by two internationally accredited laboratories (ISO 17025) belonging to the University Jorge Tadeo Lozano ("UTADEO") and AGROSAVIA. Test results demonstrated the heavy metals content of the flower samples are within permissible limits proposed by the Council of Europe. Cannabis materials which exceed these limits are deemed non-pharmaceutical grade and are thus ineligible for pharmaceutical exportation into the European Union.
The company provided UTADEO and AGROSAVIA with dried samples of three flower varieties grown at Casa Flores. Testing of these samples was conducted at two ISO 17025 accredited laboratories, UTADEO's BIOSYSTEM laboratory and AGROSAVIA's SOIL and WATER laboratory, to evaluate the levels of cadmium, lead, and mercury present in the samples. The conclusion of the testing by both UTADEO and AGROSAVIA found the results of the samples to be within permissible limits as set forth by European Pharmacopoeia, Europe's legal and scientific benchmark for pharmacopoeia standards.
The Company plans to perform further heavy metals and pesticide testing on six additional cannabis strains in the coming weeks. These strains being tested are intended for commercial production of medicinal cannabis at Casa Flores. The company is pursuing GMP-C certification for the Casa Flores facility in order to export pharmaceutical grade cannabis to international markets, namely Europe.
"The initial testing results from UTADEO are a testament to the sophistication of the production processes and quality control standards at our developing Casa Flores cannabis camp," said Brian Baca, CEO of Ikänik Farms "We look forward to conducting further testing as we continue to build out and pursue GMP-C certification for this facility."
See the Company's press releases dated October 15, 2019 and October 29, 2019 for further information regarding Ikänik's Colombian operations and objectives.
About Ikänik Farms
Ikänik Farms is creating a dynamic portfolio of cannabis brands aimed to support global pharmaceutical demand, rooted in health and wellness, action sports and unified with passion. The Company' leadership brings decades of expertise in R&D, cultivation, retail, branding, and corporate finance with the ambition to build the nation's most iconic vertically integrated "seed-to-sale", "MNO" Multi-National Operator. Ikänik Farms' operations are currently located in California and in Colombia, through its Pideka operations.
Forward Looking Statements
This news release includes "forward-looking information" and "forward-looking statements" within the meaning of Canadian securities laws and United States securities laws (together, "forward-looking information). All information, other than statements of historical facts, included in this news release that address activities, events or developments that the Company expects or anticipates will or may occur in the future is forward-looking information. When used in this news release, words such as "will", "could", "plan", "estimate", "expect", "intend", "may", "potential", "believe", "should", and similar expressions, are forward-looking information, including, but not limited to, Pideka being able to obtain GMP certification for the Casa Flores Camp, statements with respect to the anticipated size of the Casa Flores Camp, the ability to complete the phases of the construction of the Casa Flores Camp and the ability to maintain production at the Casa Flores Camp within the permissible limits proposed by the Council of Europe.
Although the Company has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking information, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: Pideka not being able to obtain GMP certification on the Casa Flores Camp, delays in construction or significant cost overruns in the construction of the Casa Flores Camp, future production capacity and extract capabilities of the Casa Flores Camp being significantly lower than expected or all of the planned square footage at the Casa Flores Camp not being available for cannabis production, future ineligibility for pharmaceutical exportation into the European Union, changes in laws, a change in management, the inability to obtain additional financing, increased competition, hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and, regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in the forward-looking information may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information in this news release is made as of the date of this release. The Company disclaims any intention or obligation to update or revise such information, except as required by applicable law, and the Company does not assume any liability for disclosure relating to any other company mentioned herein.
On behalf of the Board of Directors of Ikänik Farms, Inc.
SOURCE Ikänik Farms Inc.
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