Atlas Biotechnologies Announces European Expansion

9/3, 11:00 AM (Source: GlobeNewswire)

EDMONTON, Alberta, Sept. 03, 2019 (GLOBE NEWSWIRE) -- Atlas Biotechnologies Inc. (“Atlas” or the “Company”) is pleased to announce Atlas Growers Denmark A/S, a major European medical cannabis project structured using a finance lease of the assets of Egehøj Champignon:

  • Assets consist of a 170,000 sq. ft. facility located on Funen Denmark, (the “Property”), which will serve as Atlas’ European base of operations for the development and production of medical cannabis-based products. Atlas retains the right to purchase the assets at a fixed price at any time for twenty years.

  • The property features 36 individual climate-controlled rooms, allowing for in-house cultivation of pharmaceutical grade cannabis flowers, as well as production of pure, extracted medical inputs, & GMP manufacturing of down-stream finished goods.

  • Individual microclimates can be tailored to the unique environmental demands of each specific medical cannabis cultivar, or plant variety.

  • Concurrent with the lease, Atlas has submitted a cultivation license with the Danish Medicine Authority. First harvest is scheduled for early 2020.

  • With the vision of “creating the world’s most trusted cannabis products” and specialized approach to production, Atlas is taking a pharmaceutical path to ensure products are of consistent quality and efficacy.

  • Working with Novo Nordisk Engineering, Atlas has engineered a new 20,000 sq. ft. processing laboratory, which will meet European Union Good Manufacturing Practices (EU GMP) standards, the certification necessary for pharmaceutical manufacturing.

  • Mr. Kent Stenvang, CEO and Owner of Egehøj Champignon will help strengthen the Atlas leadership team as Denmark Head of Operations. Kent brings over 30 years of experience in running a business with products in a competitive industry.

  • Atlas intends to create over 100 new jobs within the region.

Sheldon Croome, Atlas President & CEO notes: “We have been seeking to expand our production base outside of Canada for some time and are pleased to have secured this high-impact opportunity. The rapidly emerging European medical cannabis market is primed for tremendous growth, and our Denmark expansion will provide Atlas a solid foundation to further serve our ever-growing client base of European buyers. We are excited to be planning one of the largest, most sophisticated indoor cultivation and GMP processing facilities in Europe, the next major frontier for medical cannabis legalization.”

Kent Stenvang added: “I am thrilled to become an integral member of the Atlas team and am consistently impressed by their biotech and pharmaceutical research focus in medical cannabis. This cultivation and processing expansion is projected to provide at least 50 local jobs, with over 100 hires expected by late-2020.”

About Atlas Biotechnologies Inc. (“Atlas”)

Atlas is based in Edmonton, Alberta, Canada and its wholly owned subsidiary, Atlas Growers Ltd., is federally licensed for cultivation and processing of cannabis products, with a focus on medical use markets. Atlas currently operates a purpose-built 38,000 square foot facility and laboratory which has in-house capabilities to refine cannabis into distilled and isolated cannabinoid concentrates as well as specialized medical formulations in large volumes.

Atlas’ proprietary controlled environment cultivation system is designed to maximize production of the highest consistency and quality of cannabis products for medical use applications. In addition, Atlas is heavily focused on research and development and continues to solidify research collaborations with some of the world’s most prestigious post-secondary institutions including Harvard Medical School. Atlas continues towards its’ vision of improving lives by creating The World’s Most Trusted Cannabis Products™.

Forward-Looking Information

This news release may contain “forward looking information” and “forward-looking statements” within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. When used in this document, words such as “intends”, “plans”, “anticipates”, “potential”, “expects” and “scheduled”, are forward-looking statements.  Forward-looking statements are subject to a wide range of business, market and economic risks and uncertainties, and although Atlas believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized and, as such, undue reliance should not be placed on forward-looking statements. Any number of factors can cause actual results to differ materially from those in the forward-looking statements. Except as required by law, Atlas disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

For further information, please contact:

Christian Lopez
Investor Relations
Atlas Biotechnologies Inc.
Phone: 780-784-5920
Email: invest@atlasgrowers.com
Website: www.atlasgrowers.com

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