Tickers: XCNQ:AREV
Tags: #Healthcare
Vancouver, British Columbia - TheNewswire - September 11th, 2019 - AREV Brands International Ltd. ("AREV" or the "Company") (CNSX:AREV.CN) is pleased to announce that it is negotiating to acquire 50 per cent of Lighthouse Genomics Inc. Lighthouse will remain an independent operating entity with voting control and an agreement to provide AREV holdings with preferential access to genomic analysis to inform AREV breeding operations with advanced genetic science.
AREV, a cannabis integrator, conducts extensive breeding research and development to produce proprietary genetic assets through its holdings in BC Bud Depot. The Lighthouse acquisition complements the Company's purchase of its largest holding, BC Bud Depot assets, which include a seed bank considered to be a world-class genetic resource, as previously announced September 7, 2018. The strategic investment in Lighthouse Genomics Inc. strengthens AREV's position as an international leader in cannabis genetic research and breeding.
AREV's programs operated by BC Bud Depot will utilize Lighthouse's proprietary technologies to accelerate breeding of new genetic assets through oversight of the genetic basis of traits in cannabis. Lighthouse's industry-leading technologies include the Lighthouse Cannabis Assay(TM) (LCA), which captures 40,000 single nucleotide polymorphisms (SNPs) selected for high relevance within the cannabis genome. The LCA is considered the most comprehensive SNP genotype array chip for cannabis currently available worldwide. Lighthouse has also produced a proprietary bioinformatics software pipeline to analyze and interpret data produced by LCA genotyping or by Whole Genome Sequencing. These data-capture and analytic technologies provide AREV with an unprecedented opportunity to apply strategic genomic intelligence to producing rare and stable traits in new genetic assets, developed with speed and precision far surpassing conventional plant-breeding practices.
Timothy Harvey, CEO of Lighthouse Genomics, stated, "Genetic oversight is an indispensable tool for developing cannabis varieties with production efficiencies and rare chemical signatures that target specific desired outcomes. We offer tools and techniques that allow cannabis companies to lead and compete as the industry transitions to a science-based era. The Lighthouse Cannabis Assay(TM) can be used to screen populations to detect infrequent allelic forms, and to select breeding partners for reproductive stability in genes that encode for traits not commonly expressed in the broader population. The LCA captures data from approximately 5000 genes of interest, including dozens of cannabinoid and terpene synthase genes, precursor genes and genes associated with crop yields and flower size. We provide AREV the opportunity to analyze the allelic forms and frequencies that underly hidden diversity within the cannabis gene pool - in other words, to prospect for value on the genetic frontier."
Harvey noted that Lighthouse continues to support companies industry-wide while maintaining a rigorous data security and protection policy. "Only Lighthouse bioinformaticians have access to our genome database," Harvey stated. "However, all clients benefit as our database grows. Extensive genotyping by a company such as BC Bud Depot causes the Lighthouse database to become a more precise tool for measuring genetic novelty and expressions of value in the cannabis genome. This partnership is a benefit to all existing and future clients of our company. AREV is contributing to the advancement of cannabis science."
Mike Withrow, CEO for AREV Brands International, states, "Acquiring of 50% of Lighthouse solidifies our leadership in the field of cannabis genetics. This is a high-magnitude acquisition allowing us to pair BC Bud Depot's vast genetic reservoir with Lighthouse technologies, to maximum advantage. Our enhanced breeding programs will ensure that BC Bud Depot genetics continue to raise the bar for quality in the industry. We will select our cultivation partners based on their ability to bring out the very best in these strains."
As previously announced April 11 2019
BC Bud Depot moves to improve the variety and qualities of cannabis strains made available to the medicinal and recreational markets by Licensed Producers in Canada. BC Bud Depot contracted Lighthouse to conduct Whole Genome Sequencing on the first ten select BC Bud Depot cultivars. Lighthouse has provided BC Bud Depot extensive consulting and two forms of reporting: a Genetic Assets Overview (now known as the Genetic Assets Population Report) providing oversight to the entire tested BC Bud Depot gene pool, and a Genovar Report for each individual plant sequenced.
As previously announced in May 2019
Lighthouse has issued certification documents to BC Bud Depot for the master plants of 10 genovars, clone groups that share the common genome of the individual plant tested in the certification process. The BC Bud Depot genovars are elite lineages selected for traits desirable in master breeding stock used for producing seeds and new cannabis varieties.
For further information, contact Mike Withrow, mike@arevbrands.com
On behalf of the Board,
Mike Withrow
CEO & Director
About AREV Brands International Ltd.
AREV Brands International Ltd. ("AREV") produces and delivers functional compounds and ingredients from its world-class extraction systems. AREV is revolutionizing the current delivery method of terpenes, cannabinoids and flavonoids. These premium ingredients and formulations are used in products targeted for sale in the natural health, medical, functional food, nutraceutical, sport nutrition and bioceutical markets. AREV innovates through extraction to produce extracts from specific selected plant and exude from trees that address 5 areas of health including Anxiety, Pain Management, Insomnia, Central Nervous System Disorders & Libido.
About Lighthouse Genomics Inc.
Lighthouse Genomics Inc. ("Lighthouse") provides genetic analysis reports to the cannabis industry and certification of the genetic identity of cannabis varieties, called genovars. Lighthouse owns proprietary technologies including analytics software and the design of the industry's most advanced SNP genotype array. These technologies are used by clients to gain greater knowledge of their genetic assets, to document their claim to genetic IP, to optimize breeding programs and to verify the genetic consistency of product batches to the standards of pharmacy retailers. Lighthouse Genomics is proud to collaborate with a variety of academic institutions, producers and breeders, and to conduct significant internal research and development in the interests of advancing cannabis science. Recognizing that the resilience of the cannabis industry relies upon diversity within the cannabis gene pool, Lighthouse considers it their mission to document and amplify that genetic diversity.
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Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws. This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks various risk factors discussed in the Company's Management's Discussion and Analysis under the Company's profile on www.sedar.com.
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