Vancouver, British Columbia – (Accesswire) – Thursday, October 3, 2019) – Stillcanna Inc. (OTC:SCNNF) (CSE:STIL) (FRANKFURT:A2PEWA) ("STIL" or the "Company") would like to announce its Polish extraction facility Nexus has completed its inaugural equipment test and successfully produced its first CBD Distillate.
Jason Dussault the Company’s CEO, Shae de Jaray the Company's COO, and Joel Leonard the Company's CFO, were all present for Stillcanna’s first extraction of CBD Distillate in its Nexus facility.
“The successful system test run is a major milestone towards full commercial-scale production this quarter,” stated Jason Dussault CEO. “The Nexus facility is an engineering marvel thanks to the hard work of our Chief Engineer and COO Shae de Jaray, who has truly outdone himself with this design.”
CEO Jason Dussault holding liters of CBD rich Distillate produced at Stillcanna’s Nexus Facility in Poland.
The Nexus facility implements a closed-loop ethanol extraction system cooled with liquid nitrogen throughout its multi-step process. The entire finished system flows from initial soaking and winterization to filtration, distillation, purification and finally chromatography to create both CBD Distillate and Isolate. The installed commercial-scale falling film distillation units are capable of distilling up to 600 litres of CBD rich ethanol per hour. Initially, the Nexus facility is designed to produce up to 1320 kilos of CBD per month. By the end of 2019 or early 2020, the Company intends to deploy pelletizing compression technology that will allow a greater volume of hemp to be processed with the same equipment. By using compressed hemp flower through its extraction system a greater yield of cannabinoids per cycle should be achieved.
“From seed to CBD, over 15 separate processes must not only be completed but done so in a consistent and efficient way,” pointed out Jason Dussault, CEO. “Many new entrants in this industry underestimate the skill, knowledge and experience required. Recent reports indicate as much as $7.5 billion in hemp may rot on the fields in the USA alone in 2019. Many farmers are struggling with harvesting and promised extraction facilities which have failed to materialize. Stillcanna has successfully completed all aspects of seed to CBD and continues to be a leader in the space. ”
The Company remains on track to achieving its initial mandates and milestones set out in early 2019.
About Stillcanna Inc.
Stillcanna Inc. (CSE: STIL) www.stillcanna.com is a Canadian early-stage life sciences company focused on large scale CBD extraction in Europe. The Company believes its proprietary intellectual property allows it to extract CBD at a lower cost. The Company has signed an initial extraction contract in Europe to be the exclusive extractor for Dragonfly Biosciences LLC, a United Kingdom-based supplier of CBD. The Company also recently completed the acquisition of Olimax NT SP. Z .O.O, which is expected to increase the Company’s market share in the European CBD industry.
On Behalf of the Board
Jason Dussault, CEO
Cautionary Note Regarding Forward Looking Statements: This release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws, including that the Company should be in full commercial scale production this quarter.
Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should" or "would" occur. Forward-looking statements are based on certain material assumptions and analyses made by the Company and the opinions and estimates of management as of the date of this press release, including the Company’s Nexus facility is designed to produce 1320 kilos of CBD per month, and that pelletizing should increase production.
Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, that the Company by the end of 2019 or early 2020 intends to deploy pelletizing compression technology.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
The CSE has not in any way passed upon the merits of and has neither approved nor disapproved the contents of this news release.