CALGARY, AB / ACCESSWIRE / July 9, 2019 / Asia Cannabis Corp. ("ACC" or the "Company") (CSE: ASIA) issued the following corporate update today:
Through its regional representatives, management of ACC continues to maintain its close ties in the Kingdom of Cambodia and is monitoring potential changes to the regulations which govern hemp research and production in that country. ACC continues to endorse the establishment of a policy which grants a social license for the re-establishment of a commercial hemp agricultural base as management is certain this will ultimately provide Cambodia's farmers and people with an early mover advantage in production of the myriad of products and by-products of the hemp plant. Accordingly, management has determined to locate its Asian headquarters in the Kingdom of Cambodia and intends to establish a venue for entrepreneurial and farming education as such relates to the new industry.
ACC has also initiated business expansion activities in the general region and is pleased to announce that it has solidified contacts in Thailand, Indonesia and Malaysia. While these discussions with potential partners are of a preliminary nature, the Company is confident the depth and experience of its InPlanta Biotechnology Inc. ("InPlanta") team and its extensive research and experience in regulatory matters in relation to legalization process will assist in underlining the value of ACC involvement in the development of the hemp industry in these countries. Management is also continuing to explore other options in the greater region relative to both expansion of its hemp-based food, fibre, fuel and foundation initiative as well as prospects for importation of raw product CBD initially for research purposes and medicinal applications.
In commenting on this development, David Pinkman, CEO, stated: "We are confident that solid foundations the Company is building in Cambodia and the region will continue to be expanded as we and InPlanta work to introduce state of the art hemp research and development programs. The potential of the SE Asian region and, indeed, all of Asia, for application of the agri-tech advancements achieved by our InPlanta partners is significant, and we are actively taking steps to get those advancements in the ground."
ACC is an early stage international agri-technology company which has begun the process of creating a business focused on the development, evaluation, testing, application and, ultimately, supply to the market of proprietary organic hybridization technology and certain products derived from that technology. The core approach of the business will be centred on the planting, growth and harvesting of new and valuable strains of hemp and related crops in commercial quantities under the terms of the InPlanta License Agreement.
In conjunction with InPlanta, the Corporation plans to develop varieties of hemp with superior growth and production characteristics in the various environments found in the licensed territories With the data and associated knowledge gained from these activities, the Corporation intends to leverage the technology to develop a portfolio of strategic hemp investments to take advantage of both the changing social climate relative to hemp use and the historic acceptance of the use of these products and their derivatives in certain of the jurisdictions granted under the License Agreement.
For further information, contact:
Chief Executive Officer
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SOURCE: Asia Cannabis Corp.
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