EU GMP Facility for EVOLUTION BNK Moves to Next Stage of Approval
MONTREAL, July 24, 2019 (GLOBE NEWSWIRE) -- LGC Capital Ltd. (TSXV: LG and OTC-QB: LGGCF) (“LGC”) LGC is pleased to announce that Evolution BNK’s Italian certifying consultants Studio Sannino S.a.s have advised that Evolution BNK has now received its ISO 9001:2015 Certification for Production, processing, marketing of products derived from Industrial hemp for its Pavia facility in Italy.
The following certification processes are now proceeding and under review from the relevant authorities:
Agricultural sector certifications:
Management system for Good Agricultural and Collection Practice (GACP) and Good Manufacturing Practice (GMP): industrial hemp cultivation.
Good agronomic cultivation practices.
Patent poisons - phytosanitary.
Certification of the indoor production sector and production trade:
Good Manufacturing Practice (GMP): Production, processing, marketing of products derived from industrial hemp.
Compliance with GMP requirements implies health and processing requirements for internationally coded good practices, applicable to all processing plants.
The GMP certification scheme for product processing will be based on the HACCP system (RCE 852/04), ISO 22000, ISO 9001.
The implemented scheme will be certified for the analysis of good production standards (GMP) and will provide an independent verification of compliance with the production rules and the prerequisites necessary for the implementation of an effective production safety program based on the HACCP scheme (Hazard Analysis Critical Control Point - Analysis of critical control points risk).
Certification of the cosmetic production sector and marketing of cosmetic products:
Implementation of GMP Management System based on ISO 22716. The aim is the guarantee of product safety and health of final consumers.
Directive 76/768 / EEC - EC Regulation 1223/2009
Mazen Haddad, LGC Capital’s CEO, commented; “Evolution BNK’s plans for becoming a certified EU GMP participant in this growing sector are progressing to plan. Should EU GMP certification be granted, this changes the dynamics of this business significantly.”
Evolution BNK transaction History:
On May 29, 2019, LGC Capital Ltd. announced it has closed its transaction with 9379-1432 Québec Inc., the Canadian incorporated parent company of Evolution BNK, whereby LGC and Evolution entered into a convertible debenture indenture agreement which is convertible into a 49% equity interest in Evolution BNK and bears interest at the rate of 10%.
About LGC Capital Ltd ()
LGC Capital is a leading cannabis investment firm with a focus on the legal global cannabis market. Through its growing portfolio of investment companies, LGC is building a transversal integrated organization of interconnected legal cannabis companies with cultivation, processing and distribution in Australia, Jamaica, Switzerland, Italy, and Canada serving domestic and export markets. LGC Capital Ltd. is a Canadian incorporated public company listed on the TSX Venture Exchange (TSXV: LG) and the US OTC-QB exchange (OTCQB: LGGCF).
Through its partners and assuming pending transactions under review by the TSXV are approved, LGC presently will have interests in Jamaica, Switzerland, Italy, Canada and Australia.
LGC partners currently sell cannabis products in over 1,000 points of sale across Switzerland and Italy under the ONE Premium Cannabis and EasyJoint brands as well as medical cannabis oils in Australia under the Little Green Pharma brand. LGC's partners' branded products are available in a variety of formats including medicines, cosmetics, dry cannabis flower, tinctures, oils and seeds.
For further information please contact:
LGC Capital:
President, John McMullen, ,
Chief Financial Officer, Mark Shinners, +(44) 7827960971,
Renmark Financial Communications Inc.:
Melanie Barbeau: Media - Kellie Coppin: Tel: +1 (416) 644-2020 or +1 (514) 939-3989
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