QUEBEC CITY, July 14, 2021 - SiliCycle Inc., a company working in the health field, founded and established in Quebec City, takes a major step by announcing that it has obtained its retail license for cannabis products, topical products, cannabis extracts and edibles from Health Canada. It is with the contribution of its subsidiary PurCann Pharma and under the trademarks "Tyche", "Oovie" and "Ollopa" that the first products will be available on the Quebec and Canadian markets, starting from August for Tyche and subsequently for Oovie and Ollopa.
PurCann Pharma aims to improve the health and well-being of individuals by becoming the largest Canadian processor of products, including pharmaceuticals, derived from hemp and cannabis. The development of innovative applications of cannabis products is at the heart of the company's activities.
Highly Purified CBD
PurCann Pharma was founded with the objective of serving the pharmaceutical, nutraceutical, cosmetic, food and animal health industries with innovative products derived from hemp and cannabis. Using SiliCycle's unique expertise in extracting and purifying natural biomass ingredients as well as in fine chemistry, PurCann Pharma will first transform cannabis and hemp into purified and standardized extracts rich in CBD.
Products to hit the market this summer will first be CBD oil in capsules, sprays and liquids under the brand name "Tyche."
PurCann Pharma will market high quality, high purity, steady and standardized CBD extracts.
PurCann Pharma can process over 200 tonnes of hemp and cannabis per year to produce nearly 25 million bottles of oil. The company also plans to double processing in 2022 to reach 400 tonnes per year.
The packaging used to market the products is also made entirely from recycled products and entirely recyclable or compostable.
It is in a modern factory located in the Technological Park of Metropolitan Quebec that the production of hemp and cannabis extracts takes place. Built in 2009 and recently expanded in 2019, the plant occupies more than 45,000 sq. Ft., Including 9,000 sq. Ft. Of laboratories and 20,000 sq. Ft. Of manufacturing and packaging space —an investment totalling $45 million. The site is ISO 9001:2015 certified. The Good Production Practices (GPP) of Health Canada's Cannabis Regulations have already been implemented, and, in 2022, Good Manufacturing Practices (GMP) standards will follow suit.
"It is a great pride that we feel today at SiliCycle, PurCann Pharma and Tyche CBD. Very few Quebec companies obtain a cannabis retail license since it is necessary to respect irreproachable quality assurance processes. SiliCycle has been active in the health and wellness sector for over 25 years and has respected these highest standards since its foundation.
PurCann Pharma benefits from this high-level expertise and today's announcement marks another milestone in SiliCycle's success story. Five years ago, we embarked on the strategic approach of targeting new health and wellness markets where SiliCycle's chemical and technical expertise could be leveraged. We are very pleased that PurCann Pharma has now reached a stage of production and commercialization which will allow the growth of Groupe SiliCycle."
Hugo St-Laurent, CEO of Groupe SiliCycle