Ottawa, Ontario, March 27, 2019 (GLOBE NEWSWIRE) -- Acenzia Inc., an advanced developer and manufacturer of natural health products and dietary supplements acquired by LiveWell Canada Inc. (CSE: LVWL), has once again achieved GMP and GMP for Sport certifications by the NSF international standards body, one of a few Canadian manufacturers to attain this prestigious mark of quality, purity and safety controls.
Applicants for the Good Manufacturing Practices (GMP) certifications by the NSF are subject to rigorous on-site audits by the third-party certifier that include comprehensive lab testing and extensive evaluation of the manufacturing processes to ensure contaminated substances or hidden ingredients are not added to products. The international GMP requirements have been developed in accordance with the U.S. Food and Drug Administration (FDA) regulations for the dietary supplement industry.
GMP for Sport certification by the NSF means that Acenzia’s processes have been tested to ensure they are free from more than 270 banned substances. Only three other manufacturers in Canada have attained GMP for Sport certification by NSF. This marks the seventh consecutive year that Acenzia has qualified for GMP certification by the NSF body.
“We are proud to have successfully passed the audits, even under newly announced and more stringent guidelines,” said Grant Bourdeau, Co-President of Acenzia. “For consumers of our products, the NSF mark is a quality guarantee,” Mr. Bourdeau added.
Located about 15 kilometres from the Canada-U.S. border in Tecumseh, Ontario, Acenzia uses patented physiological research technology and advanced manufacturing processes to formulate products such as powders, sports drinks, functional foods and other therapeutics for client-partners such as Iovate Health Sciences International and others.
Acenzia’s 36,000-square-foot facility includes 20 pharmaceutical-grade clean rooms. It is also certified by Health Canada and is a USDA-Certified Organic Manufacturer and an FDA-registered facility.
LiveWell’s acquisition of Acenzia, announced on October 5, 2018, is a key part of its strategy to become a fully-integrated global CBD life sciences company. LiveWell will leverage Acenzia’s state-of-the-art manufacturing capabilities and distribution networks within the dietary supplements market to advance the Company’s CBD product strategy and help deliver health and wellness products to targeted consumer markets. The acquisition of Acenzia is expected to close on or about March 31, 2019.
As well, Acenzia’s proprietary zebrafish research model to test product efficacy will greatly advance the research being done on cannabinoids for specific ailments and dosing.
About LiveWell
LiveWell is an innovative Canadian company focused on the advanced research of CBD and other cannabinoids. Through state-of-the-art cultivation and manufacturing, LiveWell aims to cost-effectively extract and refine large quantities of hemp-derived CBD, better enabling it to develop, market and distribute wholesale and consumer products.
Cautionary Note Regarding Forward-Looking Statements
This release includes forward-looking statements about the Company and its business. Often, but not always, forward-looking statements can be identified by the use of words such as “plan”, “continue”, “expect”, “schedule”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements (including negative variations) that certain events or conditions “may” or “will” occur. Such statements are based on the current expectations of management. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of unknown and known risk factors and uncertainties affecting the Company. Further, the Company cautions that this foregoing list of material factors is not exhaustive, and readers are encouraged to read all Risk Factors disclosed in the Company’s Management Discussion & Analysis dated October 26, 2018.
In respect of the forward-looking statements and information concerning the anticipated benefits of the Acenzia acquisition, including the anticipated timing for closing, the Company has provided such statements and information in reliance on certain assumptions that it believes are reasonable at this time.
The forward-looking information contained in this press release represents expectations of the Company as of the date of this press release and accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE LiveWell Canada Inc.
For more information, visit livewellcorp.com