Segra enters into Strategic Plant Genotyping and Tissue Culture Agreement with Sugarbud
VANCOUVER, British Columbia, Dec. 05, 2019 (GLOBE NEWSWIRE) — Segra International Corp. (“Segra“) is pleased to announce that it has entered into a strategic plant genotyping and tissue culture agreement with Sugarbud Craft Growers Corp. (TSXV: SUGR, SUGR.WT, SUGR.RT) (“Sugarbud“) through its wholly owned subsidiary Segra Biogenesis Corp.
Under the terms of the agreement, which includes royalties tied to production success, Segra will provide Sugarbud with exclusive and proprietary cannabis cultivars as well as tissue culture technology and services for the preservation, regeneration, and production of key cultivars already held by Sugarbud. Plant tissue culture, also known as plant micropropagation, is an advanced scientific technique utilized in many commercial agricultural applications to mass-produce plants with desirable traits. Using micropropagation, large volumes of sterile, healthy, disease-free, and genetically identical plantlets can be rapidly produced. Plant tissue culture eliminates systemic diseases in starting materials that can negatively impact yields and chemotype expression, while at the same time dramatically reducing the space required to maintain viable stock plants and produce healthy and uniform plants year-round.“The genetic diversity, reliability and integrity of our cultivars is one of the cornerstones of our high-quality premium cannabis value proposition and our product leadership strategy,” stated Sugarbud CEO, John Kondrosky. “We believe that a reliable customer experience from batch-to-batch is an essential part of maintaining consumer confidence and trust in our brand.”“Sugarbud is committed to quality and we are very excited to be partnering with Segra to ensure the quality and integrity of our cultivars. The benefits of tissue culture for the cannabis industry and consumers alike are significant and we look forward to collaborating closely with Segra to ensure that our customers experience only high-quality premium cannabis,” continued Mr. Kondrosky.“The words premium and quality are thrown around often in this industry, however Sugarbud’s early adoption of tissue culture proves they are taking the necessary steps to ensure quality at the highest level,” stated Segra CEO, Todd McMurray. “It Is this level of dedication and commitment to quality that builds lasting brands.”About SegraSegra is an agriculture technology company offering innovative services that accelerate the advancement of the cannabis industry to better serve society. The company’s plant tissue culture and genomics technologies, coupled with a vast business ecosystem, empower its clients to drive financial performance and mitigate risk, while exploring the next frontiers of optimized cultivation practices for the rapidly evolving medical, recreational, and hemp markets. Segra is developing industrial-scale facilities to produce disease-free, robust, and DNA fingerprinted cannabis plantlets for licensed producers globally. To support this vision, Segra has assembled a world-class team of specialists in the fields of agronomy, molecular genetics, plant tissue culture, and regulatory compliance. Segra currently has agreements with many leading global cannabis producers, including the Canadian licensed producers HEXO Corp., Agripharm Corp., and The Supreme Cannabis Company Inc.https://www.segra-intl.com/About SugarbudSugarbud is a federally licensed Alberta-based publicly traded cannabis company focused on the cultivation and production of high-quality premium cannabis, and product leadership through the development, production and distribution of value-added cannabis products in Canada.http://www.sugarbud.ca/Website: http://www.segra-intl.com/Forward-looking informationThis news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.