Products now accessible to UK patients, with over 500 kilograms of additional orders in production
VANCOUVER, British Columbia, Dec. 16, 2024 (GLOBE NEWSWIRE) -- HYTN Innovations Inc. (CSE: HYTN, FSE: 85W0, OTC PINK: HYTNF) ("HYTN" or "the Company"), a pharmaceutical company specializing in the development, formulation, and manufacturing of psychoactive and psychotropic compounds, including cannabis and psilocybin, is pleased to announce its successful export of cannabis to the United Kingdom’s 4C LABS. This announcement follows the news from November 28, 2024, that the Company received its first international order for products manufactured under its recently awarded Good Manufacturing Practices (GMP) designation.
The completed shipment of this first order includes the successful export, import, final packaging and release for supply of 43.75 kilograms of cannabis flower for medical use. The company confirms that this initial order has been paid in full and that the products shipped are now available to patients across the UK through the country's regulated medical sales model.
Following this initial success, HYTN has received orders for immediate manufacture totaling over 500 kilograms of additional products, underscoring the growing demand for its premium cannabis-based pharmaceuticals in the international market.
"The fulfillment of our first order to 4C LABS and the subsequent substantial orders highlight the trust and confidence our partners place in our products and the strength and efficiency of our GMP standards," said Jason Broome, Chief Operations Officer of HYTN. "We are committed to stabilizing international supply lines and ensuring that our products meet or exceed the regulatory requirements of international markets."
HYTN's products are manufactured under Good Manufacturing Practices (GMP) standards, ensuring they meet the stringent quality requirements of international markets. This milestone aligns with HYTN's strategic goal to expand its global footprint and provide high-quality cannabis products to patients worldwide.
About HYTN Innovations Inc.
HYTN Innovations Inc. is a pharmaceutical company that specializes in the formulation, manufacturing, marketing, and sale of products containing psychoactive and psychotropic compounds, including cannabis-derived cannabinoids and psilocybe-derived tryptamines. HYTN is dedicated to becoming a premier provider of these products across all federally regulated markets. The Company accomplishes this by strategically identifying market opportunities and effectively bringing innovative products to market through its advanced development platform.
About 4C LABS Ltd.
4C LABS is a Canadian-based Medical Cannabis company which is building a vertically integrated, quality-driven infrastructure for procuring and delivering premium medical cannabis products to the UK, EU and other international regulated markets.
4C LABS focuses on launching products in regulated markets with an additional focus on research and development of new and innovative plant based therapeutic finished product forms that can be introduced to the 4C catalogue.
About Good Manufacturing Practices
GMP guidelines provide guidance for manufacturing, testing, and quality assurance to ensure that a manufactured product is safe for human consumption or use. Many countries have legislated that manufacturers follow GMP procedures and create their own GMP guidelines that correspond with their legislation.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.
Certain information contained herein may constitute forward-looking statements that involve risks and uncertainties. Readers are cautioned not to place undue reliance on forward-looking statements, including, but not limited to, statements regarding the receipt of additional purchase orders, the Company’s ability to fulfill the same, and the Company’s expanded abilities to export its products globally, including to the UK. Factors that could cause actual results to vary from forward-looking statements or may affect the operations, performance, development, and results of the Company’s business include, among other things: the Company’s inability to fulfill purchase orders; the Company's failure to generate sufficient cash flow from operations to meet its current and future obligations; the Company's failure to access sources of debt and equity capital; changes to the regulatory framework within which the Company operates; competitive factors, pricing pressures, and supply and demand in the Company’s industry; and general economic and business conditions. Any statements that are not statements of historical fact are deemed to be forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this news release, and, except to the extent required by applicable law, the Company assumes no obligation to update or revise forward-looking statements made herein or otherwise, whether because of new information, future events, or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary note.
