TORONTO, June 23, 2021 (GLOBE NEWSWIRE) -- RYAH Group, Inc. (CSE:RYAH) (“RYAH” or the “Company”) today announces that it has completed an initial shipment of its proprietary RYAH Smart Dry Herb Inhalers for use in a pilot study to be conducted by Medicann in Jersey, the largest of the Channel Islands, located between England and France. Medicann is a premier cannabis-specialized clinic, providing patients with access to local specialist doctors and pharmacists that have experience prescribing cannabis-based medication. Medicann is launching an observational study using RYAH Smart Dry Herb Inhalers in order to collect patient feedback on consumption of cannabis strains available on the Island, including strains supplied by Aurora Europe, a subsidiary of Canadian-headquartered Aurora Cannabis Inc., a global leader in the cannabis industry serving both medical and consumer markets and dedicated to helping people improve their lives.
In addition to the pilot program, the parties are working toward an exclusive, definitive supply and distribution agreement, which, if entered into, is expected to position Medicann as the sole supplier and distributor of the RYAH Smart Dry Herb Inhalers in the region.
Jersey, Channel Islands, which is known to have one of the highest GDP per capita in the world, is a British dependency island ideally situated in the English Channel off the coast of France. In 2019, the island's economy grew by 2.1% in real terms to £4.97 billion.
By 2024, the medicinal cannabis market within the United Kingdom is predicted to be worth nearly US$1.3 billion, servicing nearly 340,000 active patients. According to a report by the United Nations International Narcotics Control Board, the U.K. has emerged as the largest supplier of medicinal cannabis in the world. The European cannabis market is forecast to grow with a compound annual growth rate (CAGR) of 67.4% to reach 3.2 billion euros ($3.75 billion) by 2025.
"We are excited to be initiating our pilot program with Medicann in Jersey, which represents a unique, ‘ring-fenced’ environment for establishing potentially numerous studies on the efficacy of treatments using plant-based therapies. RYAH is pleased to contribute RYAH’s IoT devices and data platform and work with Medicann toward perfecting prescribing practices and dosing regimens,” said Gregory Wagner, CEO of RYAH Group, Inc.
About RYAH Group, Inc.
RYAH Group, Inc. (“RYAH”) is a connected device and big data and technology company focused on valuable predictive analysis in the global medical plant and nutraceutical intake industry. Its robust artificial intelligence platform aggregates and correlates HIPAA-compliant patient data, which is intended to help doctors and patients personalize plant-based treatments to better predict treatment outcomes. The data collection is relevant for clinics, doctors, dispensaries and pharmaceutical companies and licensed processors (LPs) to monitor and manage formulation effects on patients and demographics. With a strong IP portfolio, RYAH gathers deep and insightful data on the complete patient session and formulation life cycle.
Forward-Looking Statements
This press release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). All statements contained in this press release that are not statements of historical fact should be considered forward-looking statements. Forward looking statements are often identified by terms such as "may," "should," "anticipate," "expect," "potential," "believe," "intend" or the negative of these terms and similar expressions. Specifically, forward-looking statements in this press release include, but are not limited to, statements related to (i) the pilot study to be conducted by Medicann in Jersey using RYAH Smart Dry Herb Inhalers; (ii) the Company and Medicann's efforts to negotiate and enter into an exclusive definitive supply and distribution agreement to position Medicann as the sole supplier and distributor of the RYAH Smart Dry Herb Inhalers in Jersey; and (iii) the anticipated size and growth of the recreational and/or medicinal cannabis market within the United Kingdom and Europe. Forward-looking statements reflect the Company’s current views and intentions with respect to future events based on current information available to the Company and are necessarily subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with or inherent in (i) the general business and economic conditions in the regions in which the Company operates; (ii) the expected benefits of the Company's product offerings and the anticipated results and experience of users thereof; (iii) the Company's ability to execute on key priorities, implement business strategies and/or pursue business opportunities; (iv) disruptions in or attacks (including cyberattacks) on the Company’s information technology, internet, network access or other voice or data communications systems or services; (v) changes to, or the application of, laws and regulations; and (vi) such other factors set out in the Company's public disclosure documents available under the Company's profile on SEDAR at www.sedar.com. Readers are further cautioned that the assumptions used in the preparation of such forward-looking statements (including, but not limited to, the assumption that (i) the Company will be able to execute on its business plan and will obtain and maintain all necessary permits and authorizations to execute on its business plan; (ii) the Company's financial condition and development plans do not change as a result of unforeseen events; (iii) there will continue to be a demand, and market opportunity, for the Company's product offerings; (iv) the Company will be able to establish, preserve and develop its brand and attract and retain required personnel; (v) current and future economic conditions will neither affect the business and operations of the Company nor the Company's ability to capitalize on anticipated business opportunities; (vi) Medicann will undertake and complete the pilot study in Jersey upon the terms anticipated by the Company; (vii) there will continue to be a viable business opportunity for Medicann and the Company to work together; and (viii) the Company will be able to secure capital and financing on acceptable terms), although considered reasonable by management of the Company at the time of preparation, may prove to be imprecise and result in actual results differing materially from those anticipated, and, as such, undue reliance should not be placed on forward-looking statements. Should any such risk factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur.
The forward-looking statements included in this press release are made as of the date of this press release, and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
This press release includes market and industry data that has been obtained from third-party sources, including industry publications. The Company believes that the industry data is accurate and that its estimates and assumptions are reasonable, but there can be no assurance as to the accuracy or completeness of this data. Third-party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there is no assurance as to the accuracy or completeness of included information. Although the data is believed to be reliable, the Company has not independently verified any of the data from third-party sources referred to in this press release or ascertained the underlying economic assumptions relied upon by such sources.
Neither the Canadian Securities Exchange ("CSE") nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For additional information, please contact:
Sofiya Kleshchuk
Client Relations
+1 917 210 0543
Invest@ryahgroup.com
Gregory Wagner, CEO
+1 917 210 0543
Info@ryah.com
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