News

Innovate Phytotechnologies Inc. (CSE:“INVP”) Conditional Listing Acceptance

Cannabis Industry Research and Analysis leader to complete Amalgamation with Ross River Minerals Inc.

VANCOUVER, British Columbia, March 28, 2019 (GLOBE NEWSWIRE) -- Innovate Phytotechnologies Inc. ("Innovate or The Company") is pleased to announce it has been granted Conditional Acceptance for listing on the Canadian Securities Exchange ("the CSE") subject only to closing the amalgamation and filing final documents. A further detailed announcement will follow prior to setting the date for opening of trading.

Introduction to Innovate

Innovate will be providing seed-to-sale solutions and services including compliance and third-party testing, clinical trials, biological plant analysis, assistance with licensed cannabis producer applications and more. The Innovate head office is in Vancouver and its lab and scientific personnel are located in Kelowna B.C. The Company has a three-pronged strategy to realize revenue quickly from the Cannabis industry, each conducted under separate subsidiaries:

  1. Innovate Phytoceuticals Inc.: Lab research, product certification, regulatory compliance
  2. Innovate Clinical Centres Inc.: Clinical Studies and trials for efficacy and safety of products
  3. Phytomatrix Natural Technologies Inc.: Hemp-based natural product development and marketing
  1. Innovate Phytoceuticals Inc. is expanding its regulatory consulting service to conduct research, certification services and assessments in its Kelowna lab. The current customer base provides a head start on building clientele for the lab services. Procurement of state-of-the-art equipment has commenced with Thermo Fisher Scientific and a phased startup of the 10,000 sq. ft. Kelowna facility will commence in June.
  2. Innovate Clinical Centres Inc. conducts a comprehensive array of clinical research trials in the pharmaceutical, nutraceutical and medical device sectors. In combination with the Company's research and lab capabilities, Innovate's clinical services offer a vertically integrated approach to completing clinical research and trial-related activities for clients. Initial clinical operations will commence in June from a 2,600 sq. ft research-dedicated facility located in Kelowna.
  3. Phytomatrix Natural Technologies Inc.'s mandate is to create hemp-based natural health products using hemp seeds as the core ingredient. This subsidiary has received its license to cultivate and process Industrial Hemp under the Cannabis act in March 2019. A seed establishment and import and export permit under the Canadian Food Inspection Agency is pending and expected in April 2019. Phytomatrix is a member of the Canadian Seed Growers Association.

CEO and Technical Team Leaders

William Robert Emlyn, Director and CEO
Robert Emlyn brings over 25 years of executive management experience in business development and construction management across many sectors and industries. He has a proven track record of developing opportunities and taking projects successfully from inception through implementation, most recently as CEO of Antares Project Services which he founded in 2009. The Company is benefitting from Mr. Emlyn's disciplined project management approach as it completes construction of its facilities and expands its service offerings rapidly.

Jacek Usakiewicz – Director of Research & Development M.Sc. Ph.D.
Dr. Jacek Usakiewicz has over 20 years of industrial experience in biotechnology. He developed broad scientific expertise in drug design, assay development, protein and natural products chemistry at several Canadian and US companies including MDS Protana, Perkin Elmer and Neurocrine Bioscience. His research has developed numerous mass spectrometry based methods and applications. He holds a M.Sc. and Ph.D. in organic chemistry from University of Wroclaw, Poland and conducted postdoctoral research at the National Research Council of Canada. He is an author of over 40 peer-review publications and 12 international patent applications.

Lukman Sarker – Laboratory Manager B.Sc., M.Sc.
Lukman Sarker holds a master's degree in Plant Molecular Biology from the University of British Columbia, with expertise in analytical chemistry. Lukman Sarker is an expert in generating genomic databases to answer important information about plant science. He started his career as a professional microbiologist in Bill and Melinda Gates vaccine development program in Bangladesh and more recently been a Graduate Researcher and Teaching Assistant at UBC. Lukman's expertise is in combining molecular biology techniques and plant tissue culture methods to understand plant metabolic pathways – a key research approach.

Brayden Gourdeau – Clinical Operations Manager B.Sc.
Brayden Gourdeau brings several years’ experience in the clinical research and pharmaceutical industry to Innovate. Brayden holds degrees in Biochemistry and Psychology from the University of British Columbia and specializes in clinical operations and trial management. Through collaborative partnerships with distinguished pharmaceutical companies and contract research organizations, Brayden has gained a wide breadth of experience in a variety of clinical research phases and indications.

About Innovate Phytotechnologies:

Innovate Phytotechnologies provides innovative end-to-end solutions for the food, drug, natural health products and emerging cannabis sectors. Through its subsidiaries Phytotechnologies offers seed-to-sale solutions and services including compliance and third-party testing, clinical trials, micropropagation, assistance with licensed cannabis producer applications and more.

These services meet an urgent and growing need in the cannabis industry for product differentiation: to certify unique products, develop exclusivity, and craft scientifically established IP.

For more information, please contact:

Innovate Phytotechnologies Inc.

http://www.invp.ca

info@invp.ca

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of the content of this news release.