CannaPharmaRx Secures New Strains for Declaration to be Incorporated Into Product Portfolio

Rhea-AI Summary

CannaPharmaRx (OTC PINK:CPMD) has secured new genetic strains of cannabis, submitted to Health Canada, enabling sales to licensed producers. This declaration, part of the standard cultivation license, allows for growing over 200 strains. The genetics are sourced from a top master grower in Canada. The company aims to start harvesting in the first quarter, with plans to distribute heavily demanded products shortly thereafter. CEO Nick Colvin emphasized the focus on acquiring high-quality genetics to meet market demands.

Positive

• Secured new genetic strains for cannabis production.
• Submission to Health Canada allows for sales to other licensed producers.
• Ability to grow over 200 separate cannabis strains.
• First harvesting expected in Q1, with distribution planned shortly after.

Negative

• None.

CALGARY, AB / ACCESSWIRE / December 19, 2022 / CannaPharmaRx, Inc. (OTC PINK:CPMD), a future leader in ultramodern, highly efficient cannabis production facilities announced today it has secured new genetic strains of cannabis for its declaration. This declaration gets submitted to Health Canada and will allow the new strains to be sold to other licensed producers.The company anticipates this to be one of the final steps before its first harvesting, likely during the first quarter.

The declaration, which is submitted in conjunction with receiving a standard cultivation license, will allow the company to grow in excess of 200 separate strains. The genetics have been carefully selected from one of Canada's premier master growers, who is employed by the company.

"This will result in some of the most desirable genetics in the country being available to CannaPharmaRx. We hope to grow and harvest one of the most heavily demanded product lines available. It is our goals to start distributing product during the next quarter," said Nick Colvin, CEO of CannaPharmaRx.

About CannapharmaRx, Inc.

CannapharmaRx is focused on the acquisition and development of state-of-the-art cannabis grow facilities in Canada. CPMD is in discussion with other companies regarding potential acquisitions. CannapharmaRx's business strategy is to become a leader in high quality and low-cost production of cannabis through the development, acquisition, and enhancement of existing facilities. CannapharmaRx is committed to operating high-quality facilities utilizing the latest technology in combined heat and power generation to ensure being a low-cost producer of cannabis.

Safe Harbor Statement

Cautionary Note Regarding Forward-Looking Information or Statements

This press release contains forward-looking information or statements. All statements that are or information which is not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance, are 'forward-looking information or statements.' Forward-looking information or statements can be identified by the use of words such as 'plans,' 'expects,' or 'does not expect,' 'is expected,' 'estimates,' 'intends,' 'anticipates,' or 'does not anticipate,' or 'believes,' or variations of such words and phrases or statements that certain actions, events or results 'may,' 'could,' 'would,' 'might' or 'will' be taken, occur or be achieved. With respect to forward-looking information and statements contained herein, Management of CannapharmaRx has made numerous assumptions, including, among other things, assumptions about general business and economic conditions. Such forward-looking statements are based on assumptions and involve known and unknown risks, uncertainties, and other factors that may cause actual results, events, or developments to be materially different from any future results, events, or developments expressed or implied by such forward-looking information or statements. Readers are cautioned not to place undue reliance on such forward-looking information or statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking information or statements. CannapharmaRx assumes no obligation to update any forward-looking information or statements, even if new information becomes available as a result of future events, new information, or for any other reason except as required by law.

Contact Information:
Brokers and Analysts:
Chesapeake Group
(410) 825-3930

SOURCE: CannaPharmaRx

View source version on accesswire.com:
https://www.accesswire.com/732289/CannaPharmaRx-Secures-New-Strains-for-Declaration-to-be-Incorporated-Into-Product-Portfolio

FAQ

What are the new developments for CannaPharmaRx (CPMD) announced in December 2022?

CannaPharmaRx announced the securing of new genetic strains of cannabis and submitted a declaration to Health Canada, allowing for the growth and sale of over 200 strains.

When does CannaPharmaRx plan to start harvesting cannabis?

CannaPharmaRx anticipates its first harvesting during the first quarter following the announcement.

How many strains can CannaPharmaRx grow after the recent announcement?

CannaPharmaRx can grow in excess of 200 separate strains of cannabis as part of its cultivation license.

What is the significance of the new genetic strains for CannaPharmaRx (CPMD)?

The new strains are expected to enable CannaPharmaRx to produce some of the most desired cannabis products in Canada, meeting consumer demand.