- Auxly Cannabis (TSXV:XLY) subsidiary, Dosecann LD has entered into an agreement with a specialty oil manufacturer, Natures Crops International
- Following the agreement, Auxly will purchase exclusive global rights to Natures Crops’ Ahiflower oil
- Ahiflower seed oil is omega-rich, vegan, and a sustainable alternative to fish oils
- The company intends to use the oil in its portfolio of cannabis products
- Auxly Cannabis (XLY) is up 3.13 per cent, and is currently trading for $0.33 per share
Auxly Cannabis (TSXV:XLY) subsidiary, Dosecann LD has entered into an agreement with specialty oil manufacturer, Natures Crops International.
Following the agreement Auxly will purchase exclusive global rights to Natures Crops’ Ahiflower oil.
Ahiflower is the product of a non-GMO oilseed crop, which Natures Crops only grows in the United Kingdom. After harvesting the seeds, the company cold-presses them, producing a crude oil that Natures Crops exports to Canada.
The company further refines the crude product into Ahiflower oil, at a facility in Kensington, Prince Edward Island.
Ahiflower oil is omega-rich, vegan, and a sustainable alternative to fish oils. One acre of Ahiflower can produce as much omega-rich oil as 320,000 anchovies.
Once Auxly has exclusive rights to the oil, it plans to use it in its cannabis products portfolio.
Specifically, the company will use Ahiflower oil in the development of next generation cannabis health products. Auxly will commercialise those products when it has legal permission to do so.
Dosecann’s Chief Science Officer, Bob Chapman, spoke with excitement about Ahiflower’s future with the company.
“Ahiflower oil provides a rich spectrum of naturally occurring omega 3-6-9 fatty acids to complement our cannabinoids.
“We look forward to collaborating with the talented team at Natures Crops on research and development for novel cannabis-based solutions to consumers’ wellness needs,” he said.
Auxly CEO, Hugo Alves welcomed the new agreement and impending rights acquisition.
“Auxly is committed to bringing innovative and differentiated cannabis products to consumers.
“This agreement provides our incredible team of scientists with a vegan, complete, and balanced omega-rich proprietary ingredient,” he said.
Auxly Cannabis (XLY) is up 3.13 per cent, and trading for $0.33 per share, as of 10:55am EST.