- Radient Technologies (TSXV:RTI) has received a Health Canada license amendment, allowing it to sell cannabis extracts, edibles, and topicals
- The license amendment is a significant step forward in the company’s efforts to launch its Cannabis 2.0 product portfolio
- Radient Technologies has also entered into a manufacturing and service agreement with Premium 5, its major concentrate supplier
- The partnership will produce multiple new product lines, including live resin vape cartridges
- Radient Technologies (RTI) is up 3.23 per cent and is currently trading at C$0.16 per share
Radient Technologies (TSXV:RTI) has received a Health Canada license amendment, allowing it to sell cannabis extracts, edibles, and topicals.
Receipt of the license amendment is a significant step forward towards the company’s launch of its Cannabis 2.0 product portfolio. In response to the license, Radient Technologies has started increasing its product manufacturing and filling capabilities.
The company’s new and improved capacity will allow for substantial white-label production of unique 2.0 products which use Radient’s formulation library. The company expects that this development will also open the door to further manufacturing agreement and other opportunities for revenue.
Radient Technologies’ CEO, Denis Taschuk, commented on the company’s progress towards its Cannabis 2.0 product launch.
“Receiving this license amendment is a critical step in diversifying and evolving Radient’s business model through new products and customers.
“The sales license will give Radient the ability to leverage our unique formulations for exciting new consumer products,” he said.
In related news, Radient Technologies has entered into a manufacturing and service agreement with concentrate supplier, Premium 5. Under the partnership, Radient will bring P5’s concentrates to market through multiple new product lines.
P5 will provide its concentrates, while Radient will supply THC distillate and provide manufacturing services. During the renewable one-year agreement, the collaboration will produce a minimum of 240,000 units.
The first products planned for the agreement will be a live resin vape cartridge, and a live resin X cartridge blended with Radient’s distillate.
Radient Technologies (RTI) is up 3.23 per cent and is trading at C$0.16 per share at 2:07pm EDT.