CannapharmaRx, Inc. (OTC PINK:CPMD) a future leader in ultramodern, highly efficient cannabis production facilities in Canada, announced today that it has entered into a partnership agreement with Klonetics Plant Science, Inc. Klonetics Plant Science, Inc. provides genetic acquisition, research and development, tissue culture propagation and ready to flower production within the cannabis industry. CannapharmaRx will provide Klonetics with the necessary business proficiency to execute a number of projects within the Klonetics pipeline. Furthermore, CannapharmaRx has agreed to acquire a minority stake in Klonetics.
“We are pleased to be partnering with Klonetics on this venture,” said Nick Colvin, CEO of CannapharmaRx. “With our strong capability to oversee business development, coupled with the ability of Klonetics to provide its customers with an integrated genetics business model, we feel the relationship is very synergistic. Additionally, by ensuring Klonetics successfully reaches its goals, we are offered a level of exclusivity to their intellectual property that should provide us with a competitive advantage ranging from pricing to delivery,” added Colvin.
“Klonetics is very excited to be forming this strategic partnership with CannapharmaRX, which we feel brings both companies limitless potential for growth in the Canadian and international markets,” says David Brough, CEO of Klonetics Plant Science Inc. “Klonetics currently hosts one of the rarest breeders backed genetics books in the world, which when combined with our published world-class science team, will enable CannapharmaRX to flourish and create substantial market pull. CannapharmaRX and its executive team have proven that they can execute at the highest level. We completely believe in their vision and business model,” added Brough.
About CannaPharmaRx, Inc.
CannaPharmaRx is focused on the acquisition and development of state-of-the-art cannabis growth facilities located in Canada. CPMD owns a 48,500-square-foot cannabis growth facility presently under development and is currently discussing potential acquisitions with other companies. CannaPharmaRx’s business strategy is to become a leader in the high-quality and low-cost production of cannabis through the development, acquisition, and enhancement of existing facilities. CannaPharmaRx is committed to operating high-quality facilities utilizing the latest technology in combined heat and power generation to ensure we are a low-cost producer of cannabis. CannaPharmaRx is in the process of completing an application to list its common stock on the Canadian Stock Exchange, with initial trading anticipated to be during the third quarter of 2020.
About Klonetics Plant Science, Inc.
Klonetics, a Canadian corporation with an international presence, is a leader in the industrial-scale tissue culture production of cannabis clones and Ready to Flower plants. Using proprietary screening techniques and industry-leading tissue culture cloning, Klonetics provides growers with genetically superior clones that have consistent growth characteristics and phenotypes. Klonetics has exclusive breeders and cultivar agreements with some of the best breeders/influencers in the world, who created the original archetypes currently used throughout the entire industry. In addition, Klonetics has assembled a world-class science team with plant-based genetics and cannabis experience. Klonetics believes that its rare cultivar portfolio, world-class science team, and experienced breeders/ influencers, coupled with advanced technological tissue culture plant production, will bring superior products and increased profits to the cannabis industry. To this end, Klonetics is committed to working with licensed producers in providing superior clones at an industrial scale through a service-based business model.
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This press release contains forward-looking information or statements. All statements that are or information which is not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking information or statements”. Forward-looking information or statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. With respect to forward-looking information and statements contained herein, Management of CannapharmaRx has made numerous assumptions including, among other things, assumptions about general business and economic conditions. Such forward-looking statements are based on assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking information or statements. Readers are cautioned not to place undue reliance on such forward-looking information or statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking information or statements. CannapharmaRx assumes no obligation to update any forward-looking information or statements, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.
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