(Globe Newswire) Vancouver — HYTN Innovations Inc. is pleased to announce that its wholly owned subsidiary, HYTN Cannabis Inc., has been awarded a license by Health Canada allowing for the sale of cannabis for medical purposes.
This announcement follows a list of license achievements including a standard processing license, cannabis research license, an amendment for sale of recreational cannabis and a standard cannabis cultivation license at the company’s Kelowna production facility.
“Achieving this licence ensures that HYTN will be well positioned to capitalize on cannabis opportunities as they arise without lengthy licensing periods influencing our decision making. Having our production facility hold all available cannabis licenses demonstrates the strength of our regulatory program, operations and team and will allow us to evaluate revenue streams, including medical sales prospects, that run parallel to our core business.
“Transitioning from our partnership with Emerald Health Therapeutics has highlighted the extended time cannabis companies may wait while navigating the complex regulatory environment, and although HYTN is focused on its core business, this amendment allows us to evaluate medical sales prospects with an immediate degree of commercial certainty.” — Elliot McKerr, HYTN Chief Executive Officer