Source: Benzinga
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  • HYTN Cannabis (HYTN) is being awarded a license by Health Canada allowing the sale of cannabis for medical purposes
  • Medical cannabis sales license to increase opportunities at Kelowna facility
  • The company receives several licenses leading to the approval of the sale of cannabis for medical purposes
  • HYTN (HYTN) formulates, manufactures, markets, and sells premium cannabis goods
  • HYTN (HYTN) is unchanged today, trading at C$0.12 as of Aug 23, 2022, 12:51pm ET

HYTN Cannabis (HYTN) has received a license by Health Canada allowing the sale of cannabis for medical purposes.

This announcement follows a list of license achievements including a Standard Processing License, Cannabis Research License, an Amendment for Sale of Recreational Cannabis and a Standard Cannabis Cultivation License at the company’s Kelowna production facility.

Elliot McKerr, the CEO of HYTN commented on the news.

“Achieving this license ensures that HYTN will be well positioned to capitalize on cannabis opportunities as they arise without lengthy licensing periods influencing our decision making. Having our production facility hold all available cannabis licenses demonstrates the strength of our regulatory program, operations and team and will allow us to evaluate revenue streams, including medical sales prospects, that run parallel to our core business. Transitioning from our partnership with Emerald Health Therapeutics has highlighted the extended time cannabis companies may wait while navigating the complex regulatory environment, and although HYTN is focused on its core business, this amendment allows us to evaluate medical sales prospects with an immediate degree of commercial certainty.”

Jason Broome, the COO of HYTN added,

“While HYTN’s focus has been on recreational cannabis products for the Canadian market, we have also demonstrated our ability to build on that foundation and develop, and commercialize medical products for export. We are confident we can continue to execute on medical projects as opportunities arise and the License simply enhances our ability to do so.”

HYTN (HYTN) formulates, manufactures, markets, and sells premium cannabis goods. HYTN Cannabis is a wholly owned subsidiary of HYTN Innovations.

HYTN (HYTN) is unchanged today, trading at C$0.12 as of Aug 23, 2022, 12:51pm ET.


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