Radient Technologies Inc V.RTI.H

Radient Technologies Inc. Receives Standard Processing Lic

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Radient Technologies Inc. Receives Standard Processing License from Health Canada-----------EDMONTON, Alberta, Feb. 04, 2019 (GLOBE NEWSWIRE) -- Radient Technologies Inc. (Radient or the Company) (TSX Venture: RTI; OTCQX: RDDTF) is pleased to announce it has received its Standard Processing License from Health Canada under the new Cannabis Act regulations, which came into force on October 17, 2018. Receipt of the Standard Processing License permits Radient to legally process, sell, and distribute cannabis materials to other federal cannabis license holders. Processing of cannabis biomass in order to extract cannabinoids including CBD and THC will now begin at Radients recently expanded manufacturing facility (Edmonton I Facility) located at 4035 101 St NW in Edmonton, Alberta. This will create new revenue streams for the Company, as it begins supplying premium grade cannabis extracts and cannabinoid ingredients to its partners, including Aurora Cannabis Inc. According to Health Canadas new Cannabis Act regulations, a Standard Processing License (the Processing License) is required for any facility that is processing more than the equivalent of 600 kg of dried flowers per year. As previously stated by the Company, Radient is capable of processing more than 200 kg of cannabis biomass per day at full capacity at its Edmonton I Facility. Radient is also retrofitting a portion of its pre-existing manufacturing facility to harbour a dedicated hemp processing line (Edmonton II Facility) that will be capable of processing in excess of 1,200 kg of industrial hemp per day into CBD-rich extracts. Completion is expected in Q3 2019. In addition, the Company is building a brand new facility (Edmonton III Facility) on the lands adjacent to the Edmonton I and Edmonton II Facilities, which is expected to be capable of processing estimated throughputs of more than 1,000 kg per day of medical cannabis and more than 10,000 kg per day of industrial hemp. Completion of the Edmonton III Facility is expected in Q1 2020. Denis Taschuk, CEO of Radient, stated: This is a huge milestone for Radient Technologies and one that we are thrilled to have reached after a year of momentous growth. Receipt of the Standard Processing license from Health Canada allows the Company to begin producing our high quality extracts and specialty cannabinoid ingredients for our partners, including Aurora Cannabis Inc. This will open up new revenue streams for the Company that will prove to be beneficial as we continue to expand our operations globally, especially in light of recent regulatory developments that will likely have a significant impact on the cannabis industry worldwide. About Radient Radient Technologies provides industrial-scale manufacturing solutions for premium natural ingredients and products. Utilizing its patented MAP extraction technology, Radient delivers superior customer outcomes in terms of ingredient purity, yield, and cost, and serves global market leaders in industries such as foods & beverages, nutraceuticals, pharmaceuticals, cosmetics, and personal care. Since 2016, Radient has expanded its offerings to enter the cannabinoids market, using its MAP platform to provide premium ingredients that contain a full range of cannabinoid and terpene profiles. Please visit www.radientinc.com for more information. SOURCE: Radient Technologies Inc. Denis Taschuk, Chief Executive Officer, [e-mail], [phone]; Mike Cabigon, Chief Operating Officer, [e-mail], [phone] Caitlin Cheadle, Director of Communications, [e-mail]