July 23 (SeeNews) - Canada-based Stillcanna Inc. said is it has reached the final stages of the licensing process for its cannabidiol (CBD) extraction facility in Romania and is now waiting for final approvals.
The Origin project is a joint venture with Stillcanna's UK-based partner Dragonfly Biosciences, the company said in a press release on Monday.
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"The stage is set for full commercial operations of the company's Romanian facility," Stillcanna CEO Jason Dussault said.
Previously on July 16, the company stated that it expected to harvest 350 kilos of dried flower per hectare from its 1500 hectares, for a total yield of 525,000 kilos of flower. Stillcanna estimated the CBD yield to be approximately 36,000 kilos at 7% CBD content by volume, but had printed 5% content in its release. The company's proprietary hemp varietal has consistently achieved 7% CBD content by volume.
"Both Stillcanna and our partner Dragonfly are focused on the final approvals required to begin full commercial operations, we anticipate licensing completion and full production within the fourth quarter of 2019. Our closed loop ethanol extraction system is designed to run continuously from hemp wash, winterization, filtration, distillation and back again," Stillcanna COO and chief engineer Shae de Jara said.
Vancouver, Canada-headquartered Stillcanna Inc. operates as a early-stage life sciences company. The company focuses on large-scale CBD oil extraction and distillation and serves customers in Europe.