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RAGUSA, Italy, Jan. 20, 2021 (GLOBE NEWSWIRE) — Canapar Corp. (“Canapar”) and RAMM Pharma Corp. (including its wholly owned subsidiaries, “RAMM”) (CSE: RAMM) are pleased to announce they have entered into a strategic partnership, combining Canapar’s hemp-derived cannabidiol (CBD) extraction expertise with RAMM’s leadership in cannabis-derived pharmaceutical and cosmeceutical products. As part of the strategic partnership, RAMM has acquired Canopy Rivers’ (TSX: RIV) (OTC: CNPOF) 49% ownership interest in Canapar. This investment is expected to immediately enhance both RAMM and Canapar’s ability to capitalize on the rapidly expanding European and South American hemp-derived CBD markets.
“We are very excited to welcome RAMM as our newest partner,” said Sergio Martines, CEO, Canapar. “Together, we are a powerful team that can cross-leverage our respective expertise, product portfolios and established presence in a growing number of international markets. We are proud of this partnership and believe that it will further entrench Canapar as the largest CBD extraction company in Europe.”
“This investment will accelerate Canapar’s ability to establish itself as a leader in the European market while providing RAMM with strategic benefits, including exposure to the EU market,” said Jack Burnett, CEO, RAMM.
On January 4th, 2021, Canapar closed a convertible debenture valued CA$6,427,000 for the completion of its extraction facility.
About Canapar Corp.
Canapar with its wholly owned subsidiaries in Europe is an Italy-based manufacturer and processor of CBD oil and isolates. Canapar has secured more than 1,000 hectares of hemp through its outsource farming model and entered into an academic partnership with the University of Catania’s Department of Agriculture. Canapar is also advancing its CBD extraction and processing capabilities through its new facility and is expecting to transform 600 metric tons of hemp biomass annually into CBD isolates and derivative products for distribution in Europe. With demand for products that contain natural active ingredients derived from plant extracts increasing significantly, Canapar plans on developing CBD-infused cosmetics, skincare and beauty products for the Italian cosmetics market, which is the fourth largest such market in Europe, as well as the global market, which provides strong demand for “Made in Italy” brands.
About RAMM Pharma Corp.
Led by renowned cannabis industry experts and backed by successful pioneers in the cannabis sector, RAMM is a leader in the field of cannabinoid pharmacology and product formulation for cannabis-based pharmaceuticals and other cannabis-based products. Founded in 1988 in Montevideo, Uruguay, the Company is a well established pharmaceutical and medical product business that has developed medically registered and approved plant-derived cannabinoid pharmaceutical products. The Company currently has multiple approved and registered products that have been authorized for sale in Uruguay and compassionate use in several Latin American countries, as well as a pipeline of new products in various stages of approval and development produced in the Company’s state of the art GMP certified cannabis formulation facility. The Company operates a successful pharmaceutical, cosmetic and nutraceutical product development and medical services business which has been servicing the local market for 30 years.
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