Safe Supply Streaming Co. Announces Significant Milestone for Portfolio Company CannaLabs: Health Canada Inspection for Dealer License
Toronto, Ontario–(Newsfile Corp. – January 30, 2024) – Safe Supply Streaming Co. Ltd. (CSE: SPLY) (FSE: QM4) (OTCQB: SSPLF) (“Safe Supply” or “the Company”), the first company investing in and incubating companies at the forefront of the third wave of drug policy reform, is excited to announce a major development for one of Safe Supply’s portfolio companies CannaLabs.
In a significant step towards expanding its market presence, CannaLabs underwent an official inspection by Health Canada for the acquisition of a dealer license. This pivotal move paves the way for Safe Supply Streaming and CannaLabs to actively participate in the scheduled narcotics markets within Canada, Australia, and America.
The Dealer License
The acquisition of a dealer license will enable CannaLabs to legally engage in the production, distribution, and export of controlled substances, a sector that is witnessing rapid growth and significant investor interest globally. This development positions CannaLabs as a key player in the sector, offering transformative value to Safe Supply Streaming’s shareholders.
CannaLabs’ dealer license is expected to unlock new opportunities in research and development, manufacturing, and global distribution. The license also positions CannaLabs as a strategic asset within Safe Supply Streaming, offering synergistic benefits to other current and future portfolio companies under the Company’s umbrella.
“This is a transformative moment for CannaLabs and, by extension, for Safe Supply Streaming,” said Bill Panagiotakopoulos, CEO of Safe Supply. “The successful inspection by Health Canada is not just a procedural milestone but a strategic leap forward and shows CannaLabs’ commitment to compliance, quality, and innovation. This will not only enhance Safe Supply’s portfolio but also significantly contribute to our strategic vision of becoming a global leader in the controlled substance industry.”
The Global Controlled Substance Market
The global controlled substance market was expected to reach $89.78 billion in 2023 at a compound annual growth rate (CAGR) of 7% and the market is predicted to reach $116.44 billion in 2027 at a CAGR of 6.7%.
The market for regulated substances encompasses transactions of a variety of pharmaceuticals and narcotics, including morphine, valium, ritalin, heroin, cannabis, diazepam, flunitrazepam, and ketamine. When assessing the market value, the ‘factory gate’ price point is considered. This refers to the cost at which manufacturers or originators of these substances sell them, which can be to secondary manufacturers, wholesale vendors, distribution channels, retail outlets, or straight to the consumer. Additionally, the overall market worth takes into account the ancillary services provided by the original sellers of these substances.
The 2027 market prediction can also be attribute to policy changes beginning to take effect world wide to combat the illicit drug crisis that has proven to be complex and growing rapidly on a global scale with a large issue centralized in North America. Examples include the discussion and exploration of decriminalization and safer supply programs in Canada as a response to the crisis, highlighting the need for innovative policy solutions.
Safe Supply remains committed to pursuing opportunities that align with its vision of creating a safer, more regulated supply chain in the controlled substances market. This new development represents a significant step towards achieving that goal and enhancing shareholder value.
Corporate Update
The Company also announces that it has engaged Ace Digital Marketing to provide marketing advisory services, including social media rebrand, brand awareness and market technical analysis, starting immediately for a period of three months at a cost of C$150,000.
Additionally, the Company announces the departure of Ronan Levy as Safe Supply’s President, effective immediately.
“I had a great tenure with the Company, and while not a member of senior management anymore, through my advisory role I remain fully supportive of Safe Supply’s goals and vision to invest in, and incubate, companies at the forefront of the third wave of drug policy reform,” commented Ronan Levy.
Ronan will remain a consultant to the Company and duties of his office will be assumed by Chief Executive Officer Bill Panagiotakopoulos.
About Safe Supply
With a mission to help bring a responsible end to the war on drugs, Safe Supply Streaming Co. Ltd. is investing in and incubating companies at the forefront of the third wave of drug policy reform. As jurisdictions around the world move to decriminalize, regulate and legalize drugs, Safe Supply is investing in the infrastructure necessary to support the transition. From developing the facilities to analyze, manufacture and distribute psychoactive compounds including the coca plant, to investing in the research and innovation to harness the potential, and minimize the harm, of these medicines, to constructing the clinical infrastructure to ensure safe and responsible access and treatment, Safe Supply is building a platform of tightly woven companies that will help save millions of lives and build a safer, healthier post-war on drugs worlds.
Learn more at www.safesupply.com and follow Safe Supply on LinkedIn, Twitter, and Instagram.
For Further Information:
Bill Panagiotakopoulos
Chief Executive Officer and Director
Safe Supply Streaming Co. Ltd.
www.safesupplystreaming.com
safesupply@grovecorp.ca
Media contacts:
McKenna Miller
KCSA Strategic Communications
safesupply@kcsa.com
Forward-Looking Information and Statements
Certain statements in this news release related to Safe Supply and Origin are forward-looking statements and are prospective in nature, including but not limited to the express or implied statements and assumptions regarding the intention of Origin and Safe Supply to complete the Transaction. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These forward-looking statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe”, “will” or “continue”, or the negative thereof or similar variations. There are numerous risks and uncertainties that could cause actual results and Origin’s and Safe Supply’s plans and objectives to differ materially from those expressed in the forward-looking information, including but not limited to adverse market conditions and risks inherent in Origin’s and Safe Supply’s respective businesses. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this press release. Except as required by applicable law, Origin and Safe Supply do not intend to update these forward-looking statements. Without limiting the generality of the foregoing, there can be no assurance that the Transaction will be completed as proposed, or at all. Investors are cautioned that, except as disclosed in the management information circular and/or listing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Origin should be considered highly speculative.
The CSE has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/196065
