Atlas Biotechnologies Receives Cultivation License in Denmark

EDMONTON, Alberta, Sept. 17, 2019 (GLOBE NEWSWIRE) -- Atlas Biotechnologies Inc. (“Atlas” or the “Company”) is pleased to announce Atlas Growers Denmark A/S, a major European medical indoor cannabis facility, has received its licences to begin cultivation from the Danish Medicine Agency:

• Authorization has been granted for initial cannabis production of the newly acquired 170,000 sq. ft. facility located on Funen Denmark, (the “Property”), which will serve as Atlas’ European base of operations. The cultivation license allows Atlas to import starting materials and begin propagation and development of medical cannabis-based products.
• Under the Danish Medicines Agency’s Development Scheme, the initial license permits the receipt, possession, and processing of cannabis, as well as distribution and export of analytical samples.
• First harvest is scheduled for early 2020. After three confirmed homogeneous crops, an additional license will be issued allowing for the sale of authorized medicinal cannabis products. Atlas plans to use this production facility to supply its secured sale contracts in the rest of the European Union, while also supplying Nordic countries.
• The property features 36 individual climate-controlled rooms, allowing for in-house cultivation of pharmaceutical grade cannabis flowers
• New construction of an onsite 20,000 sq. ft. GMP laboratory will allow for production of pure, extracted medical inputs, & pharmaceutical manufacturing of down-stream finished goods.
• Like in Canada, individual microclimates can be tailored to the unique environmental demands of each specific medical cannabis cultivar, or plant variety.
• Atlas intends to create over 100 new jobs within the region.

Sheldon Croome, Atlas President & CEO notes: “We are thankful to the Danish Medicines Agency for the issuance of this valuable license, which allows Atlas to begin production of medical cannabis in Denmark. I am very proud of the Atlas team, who was both keen and diligent in ensuring a complete application and timely submissions to the Danish authorities. In line with Atlas’ successes in Canada, this new license is a testament of our ability to execute. Atlas sees the tremendous value of being a trusted provider in the European Union and is pleased to be able to offer Atlas’ trusted products to patients across the EU.”

Kent Stenvang, Atlas Growers Denmark A/S Vice President added: “This license further solidifies Atlas’ position in the European market and ensures we will be able to meet the demand of our buyers worldwide. Our exciting clinical initiatives with prestigious post-secondary institutions aim to create clinical proof for our products, which in turn will give physicians the confidence they need to prescribe cannabis products. Our aim is that this will allow patients across Europe to have better access to our sought-after products.”

About Atlas Biotechnologies Inc. (“Atlas”)

Atlas is based in Edmonton, Alberta, Canada and is federally licensed for cultivation and processing of cannabis products, with a focus on medical use markets.  Atlas currently operates a purpose-built 38,000 sq. ft. facility and laboratory which has in-house capabilities to refine cannabis into distilled and isolated cannabinoid concentrates as well as specialized medical formulations in large volumes. In Europe, Atlas is constructing a 170,000 sq. ft. facility for indoor cultivation, and a 20,000 sq. ft. GMP-EU processing and production space for the manufacturing of unique formulations which will serve its existing and future European customers.

Atlas’ proprietary controlled environment cultivation system is designed to maximize production of the highest consistency and quality of cannabis products for medical use applications.  In addition, Atlas is heavily focused on research and development and continues to solidify research collaborations with some of the world’s most prestigious post-secondary institutions including Harvard Medical School. Atlas continues towards its vision of improving lives by creating The World’s Most Trusted Cannabis Products™.

Forward-Looking Information

This news release may contain “forward looking information” and “forward-looking statements” within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information.  When used in this document, words such as “intends”, “plans”, “anticipates”, “potential”, “expects” and “scheduled”, are forward-looking statements.  Forward-looking statements are subject to a wide range of business, market and economic risks and uncertainties, and although Atlas believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized and, as such, undue reliance should not be placed on forward-looking statements.  Any number of factors can cause actual results to differ materially from those in the forward-looking statements.  Except as required by law, Atlas disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

For further information, please contact:

Christian Lopez
Investor Relations
Atlas Biotechnologies Inc.
Phone: 780-784-5920
Email: invest@atlasgrowers.com
Website: www.atlasgrowers.com

 

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