MPX International's Wholly-Owned Subsidary, Canveda Inc., Receives Licence Amendment From Health Canada Authorizing Production and Sales of Cannabis 2.0 Products
(TheNewswire)
TORONTO, ONTARIO - TheNewswire - December 1, 2020 - MPX International Corporation (" MPX International ", " MPXI " or the " Corporation ") (CSE:MPXI; OTCQX:MPXOF), a multinational diversified cannabis company, is pleased to announce that its wholly-owned subsidiary, Canveda Inc. (" Canveda "), a Licence Holder under the Cannabis Act (Canada), has received a license amendment from Health Canada which authorizes Canveda to produce, sell, and export all categories of authorized Canadian cannabis products, including topicals, extracts and edibles.
Prior to the receipt of the amended licence, Canveda has been developing its flower and pre-roll product offerings in Alberta, Saskatchewan and Israel. This amendment will allow Canveda to immediately expand into the production and sale of other Cannabis 2.0 products, such as oils, vapes, tablets and topical creams. These products will be offered under both the "Salus" medical brand and the popular recreational "Strain Rec (TM)" brand.
"Our Canveda team had been working diligently to comply with the stringent Health Canada requirements for the production of Cannabis 2.0 products. This amendment will allow us to start offering oil products immediately to our medical patients, particularly our veteran patients through Spartan Wellness ( https://spartanwellness.ca ) as well as through the Medical Cannabis Learning Network ( https://mcln.ca ). In the next month, we will be expanding our production capability to include vapes, additional oil blends, tablets and other products to meet the growing market demand in Canada and abroad," said Michael Arnkvarn, Chief Operating Officer, Canada of MPXI. "In addition to our growing roster of medical patients, Canveda is supplying flower and pre-rolls to the retail markets of Saskatchewan and Alberta and we will now be able to increase our offerings to include Cannabis 2.0 products. This is an important step in our overall retail strategy which we will continue to develop over the next few months. Discussions have commenced with other provincial cannabis regulatory bodies in order to increase shipments and generate additional revenue streams."
"Canveda is our, Peterborough, Ontario-based Canadian Health Canada licensed facility. With the ability to procure high quality flower at reasonable prices from other Licence Holders, we have been gradually shifting our focus at Canveda from cultivation to one of production and distribution, for both domestic markets and for export globally through our various international subsidiaries and clientele," noted W. Scott Boyes, Chairman, President and CEO of MPX International. "The cannabis industry is rapidly expanding, not only in Canada, but throughout the world and MPXI continues to focus on exploiting that expansion by both diversifying its product selection and concentrating efforts on market development internationally."
About MPX International Corporation
MPX International Corporation is a multinational diversified cannabis company focused on developing and operating assets across the international cannabis industry with an emphasis on cultivating, manufacturing and marketing products which include cannabinoids as their primary active ingredient. With current operations spanning four continents in Canada, Switzerland, South Africa, Malta and Australia as well as evolving partnership and distribution opportunities in other jurisdictions, MPXI continues to position itself as an emergent global participant in the cannabis industry.