Company History in Cannabis Research Dates Back to February 2013
LONDON, UNITED KINGDOM, April 25, 2018 (GLOBE NEWSWIRE) -- Plandai Biotechnology Inc. (OTC Markets: PLPL) (the “Company” or “Plandai”), a producer of nutraceutical and highly phyto-available extracts, today provided information on its involvement in cannabis research which dates back to over 5 years ago. In February 2013, Plandai incorporated Cannabis Biosciences to pursue its strategy in cannabis and began developing internal memos, plans and research following an initial review and assessment of the plant’s taxonomy and potential medical benefits.
As a result of these early investigations, Plandai determined that its proprietary extraction technology had the potential to deliver a full-profile cannabinoid complex without psychotropic side effects since the process does not metabolize the acid forms of THC (THC-A and THC-B) into the psychoactive THC metabolite.
Since that time, the Company has looked to find legal ways to conduct research and operate within federal guidelines and restrictions. In November 2013, Plandai began communicating with the University of Mississippi to establish a platform for cannabis research in the United States. Despite sincere efforts by both parties, Federal restrictions made it impossible to move forward legally. Mr. Callum Cottrell-Duffield, Chief Operating Officer of Plandai, explains, “Several states passed legislation approving the cultivation, sale and use of cannabis in various forms. Unfortunately, U.S. Federal laws have not kept pace with state legislation and the growing body of medical research. This created further challenges for us as it relates to our research, as we require access to live plants to make our extract. We continue to explore ways in which we can move forward with our research within the framework of US federal laws.”
As a result of the U.S. roadblocks, Plandai began investigating foreign opportunities. In 2014, the Company met with representatives of the University of the Republic in Uruguay along with several government officials. As a result of these meetings, a cannabis medicines research and development license was granted to Plandai in late 2014. However, at the time, Uruguay had no infrastructure to support pharmaceutical research and also no provision allowing the Company to import seed stock or export finished extract for testing. As a result, the research project in Uruguay was suspended.
Concurrently, in April 2014, Plandai began petitioning South Africa under their Medicines Control Act to permit the Company to conduct cannabis research in South Africa. Dr. Mario Ambrosini sponsored a bill to legalize cannabis for medical research which culminated last year in the government of South Africa finally authorizing the cultivation and sale of cannabis for medicinal use. Since that time, the government has been establishing protocols and guidelines for granting licenses, including setting up the application and approval procedures, training staff and inspectors, and setting the remaining groundwork for cannabis research to commence.
Plandai submitted an initial application for a cannabis research license in 2016, which has been revised and resubmitted several times based on changes South African guidelines. The final guidelines were published in late 2017 and, in January 2018, the Company submitted what it anticipates will be the final application. This included an application, Quality Systems Manual, Site Master File, and Policies and Procedures Manual. The Company also had to provide police backgrounds checks on officers and key personnel and retain a licensed pharmacist.
Mr. Duffield continued, “Based on our conversations with officials at the Ministry of Health, we are operating under the belief that all that remains is an inspection of the proposed facility. This will be followed by a letter informing us of the Ministry’s decision and giving us the parameters of the license. We have applied to be able to establish a controlled environment cannabis growing and extraction facility and also to permit clinical research on our cannabis extract. We are now just waiting for the inspection date to be set.”
About Plandai Biotechnology, Inc.
Plandai Biotechnology, Inc. (OTC Markets: PLPL) develops highly bioavailable, phytonutrient rich extracts which are being utilized to deliver a new family of drugs to safely and affordably treat a multitude of diseases and conditions. Plandai Biotechnology, through its South African subsidiaries, controls every aspect of production, from growing specific raw materials such as green tea on its farms to producing its proprietary Phytofare extract, allowing the Company to guarantee the continuity of supply as well as quality control throughout the entire process. The manufacturing facility has also been engineered for citrus fruits and the recovery of Bioflavonoid and limonoids. Targeted industries for the Company's products include animal husbandry, dietary supplements and diabetes. Plandai Biotechnology is headquartered in London, United Kingdom. For more information, please visit: http://www.plandaibiotech.com
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