NOT FOR DISTRIBUTION INTO THE UNITED STATES OR TO UNITED STATES WIRE SERVICES

Liverpool, N.S., July 15, 2019 (GLOBE NEWSWIRE) -- Aqualitas Inc. (“Aqualitas” or the “Company”) has signed a major contract for the export of dried cannabis with Cannamedical Pharma GmbH, one of Germany’s largest pharmaceutical wholesalers of medical cannabis.

This contract is the second international milestone the Company has reached recently, following the export of dried cannabis for research purposes to a Polish pharmaceutical company. With the expanding legalization of medical cannabis in a number of European countries, Canadian cannabis producers are helping to bridge the gaps between patient needs and the currently limited cannabis production within the European Union.

“This multi-year supply agreement, which has a potential value of more than $100 million (CAD), provides Aqualitas a significant entry point into the European medical cannabis distribution chain,” says Aqualitas CEO, Myrna Gillis. “While Cannamedical is one of Germany’s leading pharmaceutical cannabis wholesalers, its reach expands well beyond the country’s borders and across a number of European Union member nations.”

“As the leading independent German importer and distributor of medical cannabis, we are pleased to have signed this supply agreement with Aqualitas. The demand for medical cannabis is growing throughout the European Union and the addition of Aqualitas as one of our suppliers of EU-GMP certified medical Cannabis will strengthen our position in Europe,” says Gianfranco Salerno, managing Director of Cannamedical Pharma Canada Inc.

It is projected that Aqualitas will make its first export of dried cannabis flower to Cannamedical in early 2020.  

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About Aqualitas

Aqualitas is a privately-held, women-led licensed cannabis producer located in the community of Brooklyn, just outside of Liverpool, Nova Scotia. Aqualitas is Canada’s first Clean Green Certified cannabis producer – a recognition of its commitment to organic management practices, compliance, quality and sustainability. With a mission of supporting people’s wellness with research, care and passion, Aqualitas is committed to a vision of being a global leader in the provision of safe, affordable, organically grown cannabis and value-added products. Its research and development division, Sindica, is actively engaged in research projects in cultivation, product development, and pharmaceutical drug development. Aqualitas’ adult-use brand, Reef, is now available in the recreational market in Nova Scotia with expansion plans across Canada over the coming months.

About Cannamedical Pharma GmbH

Cannamedical Pharma GmbH is committed to educating doctors, medical specialists and pharmacists thus helping them improve their patients’ quality of life. The high-quality products by Cannamedical focuses on helping people with chronic illnesses by giving them a better quality of life with medicinal cannabis. It imports and processes only high-quality medicinal cannabis products and supplies approximately 2,500 pharmacies and clinical facilities.

In addition to providing medicinal cannabis products of the highest standards, its focus is providing critical information to medical and customer service professionals. Our production partners worldwide must comply with the highest pharmaceutical quality standards – EU-GMP guidelines (European Good Manufacturing Practice). With its quality management, Cannamedical guarantees the highest product standards. Cannamedical Pharma GmbH was founded in 2016 and employs approximately 50 employees in Cologne. In addition, Cannamedical operates subsidiaries in Canada and the UK.

FORWARD LOOKING INFORMATION:

Certain information in this press release may contain forward-looking information within the meaning of applicable Canadian securities legislation relating, but not limited to, the Company’s expectations, intentions, plans and beliefs.
This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Additional information identifying risks and uncertainties is contained in the Company's filings which are available under the company’s profile at www.sedar.com.

No regulatory authority accepts responsibility for the adequacy or accuracy of this release.

Nancy Stapleton
Aqualitas
902-266-3389
nstapleton@aqualitas.ca