MPX International Corporation (“MPX International”, “MPXI” or the “Corporation”) (CSE:MPXI) (CNSX:MPXI.CN) (OTC:MPXOF), a multinational diversified cannabis company, is pleased to announce that its indirect subsidiary, Alphafarma Operations Ltd. (“Alphafarma”) has received European Union Good Manufacturing Practices certification (the “EU-GMP Certification”) from the Medicines Authority of Malta (“MMA”) for its facility located in Birkirkara, Malta to finish dried cannabis flower in jars for medicinal use.
EU-GMP Certification is the highest standard for pharmaceutical production in the world and it is issued by a designated competent authority in Europe to pharmaceutical facilities that have passed a rigorous regulatory inspection process. Pending the receipt of the manufacturing license to be issued by the MMA for the production of cannabis for medicinal and research purposes (the “Cannabis License”), this certification will allow Alphafarma to begin processing and exporting medical cannabis flower from Malta into markets across Europe and elsewhere. Alphafarma has negotiated a favourable supply agreement with a licensed producer of cannabis flower which will be supplemented with additional biomass from its South African-based cultivation facility, likely in late 2023.
Through this certification, MPXI will be one of the very few companies with an EU-GMP certified cannabis facility which is actually located in the European marketplace. Alphafarma will also use the foundations established by the EU-GMP Certification process to imminently apply for a license amendment to process cannabis extracts, thus providing patients and prescribers with a wide portfolio of medical cannabis products of the highest quality, safety and efficacy standards.
“EU-GMP certification is a significant milestone for MPXI’s operations in Europe and MPXI’s international growth strategy. Our team in Malta has been exceptional in its pursuant of this certification and is well positioned for the next phase which is the export of cannabis flower to Europe,” said W. Scott Boyes, Chairman, President and CEO of MPXI. “This achievement reinforces our plans to create a global cannabis company. Once Alphafarma receives its manufacturing license, MPXI will be unique as the only cannabis company with revenue generating operations in North America, Europe and Asia, which MPXI believes will to additional strategic opportunities.”
About MPX International Corporation
MPX International Corporation is a multinational diversified cannabis company focused on developing and operating assets across the international cannabis industry with an emphasis on cultivating, manufacturing and marketing products which include cannabinoids as their primary active ingredient. With current operations spanning four continents in Canada, Switzerland, South Africa, Malta, Australia and Thailand as well as evolving partnership and distribution opportunities in other jurisdictions, MPXI continues to position itself as an emergent global participant in the cannabis industry.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, MPX International’s objectives and intentions. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; the Corporation’s ability to effectively deal with the restrictions, limitations and health issues presented by the COVID-19 pandemic; future cannabis pricing; cannabis cultivation yields; costs of inputs; its ability to market products successfully to its anticipated clients; reliance on key personnel and contracted relationships with third parties; the regulatory environment in Australia, Canada, Malta, South Africa, Switzerland and other international jurisdictions; the ability to complete any future potential transactions and the terms and conditions thereof; the application of federal, state, provincial, county and municipal laws; and the impact of increasing competition; those additional risks set out in MPX International’s public documents filed on SEDAR at www.sedar.com, including its audited annual consolidated financial statements for the financial years ended September 30, 2020 and 2019, and the corresponding management’s discussion and analysis; and other matters discussed in this news release. Although MPX International believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, MPX International disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
For further information about MPXI, please contact:
MPX International Corporation
W. Scott Boyes, Chairman, President and CEO
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