Sproutly Canada Inc (OTCMKTS: STRUTF) recently announced that it acquired CannaHive’s primary assets. This transaction supersedes the agreement the two companies made in April. The acquisition gives Sproutly Canada access to pharmaceutical-grade, fully-automated manufacturing equipment designed to help produce high-grade cannabis-based confectionaries, like chocolates and gummies, at a larger scale and lower cost. This equipment will help Sproutly meet the projected demand in Canada.

Senior Management

Sproutly’s Director and Chief Executive Officer, Dr. Arap Sen, said that the equipment can produce cannabis-based confectionaries at scale and directly place them into blister packages. This it can do without exposing them to airborne contaminants, which is a widespread challenge in most traditional manufacturing techniques. The CEO claimed that they can now produce unique cannabis confectionaries in-house at scale and incorporate cannabis ingredients derived from their APP technology. He continued that this will help enable them to provide the market with high-quality whole-plant products at competitive price points. Dr. Sen further stated that they’d adjust their commercialization plans and align them to the national launches of both the future and current formulations of the company’s whole-plant gummies line they’re filing with the relevant Canadian health authorities.

Latest Financial News

Sproutly recently announced its financial results for quarter one of this year. It issued around 26,966,037 units, with each unit priced at $0.05, giving the company a $1,348,302 total. Each unit was made up of a non-transferable common share and a common share. Sproutly and CMG also recently signed a Definitive Agreement they made with each other. The agreement entails that Sproutly can use CMG-developed brands to help broaden its innovative cannabis-based products portfolio.

The company’s core objective is still to become one of the world’s top suppliers of customized formulations and unique cannabis-based ingredients. The company’s BioNatural Oils and water-soluble Infuz20 product line will ensure international markets that don’t have access to quality consumer products get some. The company’s main business goal is to enter into partnerships with both globally and locally established cannabis consumer brands to leverage the customer bases they already have.

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