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Tag Archives: Industrial Hemp Biomass

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LiveWell Canada Secures Large Supply of Industrial Hemp Biomass

LiveWell Canada Secures Large Supply of Industrial Hemp Biomass
GATINEAU, QC, Aug. 13, 2018 /CNW Telbec/ - LIVEWELL CANADA INC. (TSXV: LVWL) ("LiveWell Canada" or the "Company") is pleased to announce that it has secured 1,000 acres of Canadian industrial hemp biomass for the purpose of extracting and producing cannabinoid (including "CBD") based products for distribution in Canada. Using current extraction technology licensed to LiveWell, the Company anticipates extracting approximately 25,000 kg of CBD for sale under the Access to Cannabis for Medical Purpose Regulations ("ACMPR"). It is expected to be harvested in mid-August 2018 and brought to market in 2019. Based on observable broker quotations, the current wholesale value for each kilogram of CBD isolate is approximately US$6,500. Additionally, as part of this transaction, LiveWell secured an option to buy an additional 1,000 acres of Canadian industrial hemp biomass at the same price no later than September 30, 2018. The total purchase consideration for this transaction, including the option, was US$10 million.1
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