- Auxly Cannabis Group (TSXV:XLY) subsidiary, Dosecann, has received its Cannabis Research Licence from Health Canada
- The licence will allow the company to conduct cannabis product palatability and sensory testing on human subjects
- Dosecann will test its cannabis extracts, edible cannabis, and cannabis topicals on subjects at its facility on Prince Edward Island
- In other news, Auxly has granted 640,000 options to purchase company shares, to officers involved in an equity incentive plan
- Auxly Cannabis (XLY) is up 3.45 per cent and is currently trading at C$0.30 per share
Auxly Cannabis Group (TSXV:XLY) subsidiary, Dosecann, has received its Cannabis Research Licence from Health Canada.
The licence will allow Dosecann to conduct palatability and sensory testing on human subjects for its cannabis products.
The company has developed a wide cannabis product range, but regulatory restrictions limited the ability to test how cannabis infusion changes them. With this licence in hand, Dosecann will now administer its cannabis extracts, edible cannabis, and cannabis topicals on subjects.
Feedback and consumer input from the testing will cover how cannabis changes the product’s flavour, aroma, texture, and mouthfeel. Such testing will take place at Dosecann’s facility in Charlottetown, on Prince Edward Island.
Dosecann’s Chief Product Innovation Officer, Peter Crooks, welcomed the licence from Health Canada.
“Until now, our team of product developers knew we had great-tasting non-infused formulations, but were unable to assess the impact of the addition of cannabis extracts.
“Having this ability to conduct in-house testing will lead to better-tasting products for our consumers, generate additional proprietary knowledge into our approach to flavour development, processing, and manufacturing, and support the optimisation of the cannabis extracts used in our different edible product segments,” he said.
In other news, Auxly Cannabis has announced a grant of 640,000 options to purchase common shares in the company. The company granted the options to certain officers of Auxly, in relation to its equity incentive plan.
Over the next three years, the options will vest in equal tranches, at an exercise price of $0.30 per common share. The options have a five-year term, and are subject to the terms of the equity incentive plan.
Auxly Cannabis (XLY) is up 3.45 per cent and trading at C$0.30 per share at 10:09am EDT.