Canada Coal Inc. announced that Ayurcann Inc. d.b.a XTRX Solutions Inc. has obtained an amendment to its standard processing licence from Health Canada which allows Ayurcann to sell extracts, edibles, and topical products directly to provincial and territorial retailers across Canada. On November 24, 2020, Ayurcann and the Company entered into a definitive business combination agreement to effect a reverse takeover of the Company, the details of which are disclosed in the Company’s press release dated November 25, 2020.
The Amended Licence allows Ayurcann to create new direct relationships with the provincial cannabis boards to list new product SKUs, as well as to open additional revenue streams to produce and white label new finished cannabis products for the growing number of licensed producers and popular brands across the country.
“Ayurcann’s licensing achievement is a significant milestone, and is a testament not only to the talent within the organization, but its laser-focus on customer service and the production of high-quality, consistent cannabinoid extractions for licensed producers and third-party brands in Canada,” commented Igal Sudman, Co-founder and Chief Executive Officer of Ayurcann.
Description of Ayurcann and its Business
Ayurcann is a leading provider of customized post-harvest outsourcing solutions to licensed cannabis producers. Ayurcann concentrates on the post-harvest requirements of licensed cannabis producers and other brands looking to enter the cannabis market. Ayurcann offers end-to-end full outsourcing solutions including extraction, refinement, formulation, packaging, fulfillment and distribution.