BIOHARVEST SCIENCES INC. SUCCESSFULLY DELIVERS A MAJOR MILESTONE IN THE SCALE-UP PROCESS OF ITS CANNABIS DEVELOPMENT PROGRAM

  • The Company is now growing Cannabis cells with trichomes in medium-scale bioreactors representing a 250x increase in scale
  • On track for commercialization of Cannabis & Hemp based products in H1-2022

VANCOUVER, CANADA, and REHOVOT, ISRAEL, September 1, 2021BioHarvest Sciences Inc.(“BioHarvest” or the “Company”) (CSE: BHSC) is announcing today that it has successfully scaled its Cannabis cells with trichomes production by a factor of 250x and it is now growing Cannabis in medium-scale bioreactors, paving the way for its next scale-up milestone, where it will reach industrial-scale production. The next milestone, combined with the drying and measurement standards being concurrently developed, would constitute the successful completion of the Company’s Cannabis development program.

Moving to the medium-scale bioreactors stage is not only a critical milestone in the scale-up and the proof of the capability of the BioFarming technology to produce Cannabis biomass, but is also an integral part of the industrial process development itself. The next milestone of the development program is growing Cannabis trichomes in industrial size bioreactors.

The R&D methodology and relentless efforts are paying off.” said Dr. Yochi Hagay, CTO, and added, “We are happy to have reached such a critical milestone. The recently announced and proprietary development of the Amalgamated Trichomes Coral Structure (ATCS) has certainly enabled this scale-up progress. As described before, ATCS protects the Trichomes during the growth phase against the shear forces generated by the media fluid motion. Such motion is exacerbated as you increase the size of the bioreactor, and I am confident that ATCS will sustain the forces in the next size of bioreactors, which is the final industrial-scale step. I look forward to announcing the completion of the whole program soon”.

The CEO, Ilan Sobel, said, “Our industry-leading plant cell biology team is on track to deliver on one of the most challenging plant biological missions of growing cells of Cannabis Trichomes in liquid media at an industrial scale. Completing this mission will pave the way to the commercialization of BioFarming based Cannabis and Hemp products, marking a major turning point for the mainstream adoption of Cannabis by the global food and health sectors. The ability to economically and sustainably produce consistent, clean and pure whole spectrum Cannabis is nothing short of a revolution for the industry”.

Eitan Popper, Chairman of BHSC’s board of advisors and former President and Co-Founder of MedReleaf, stated, “BHSC’s R&D team is making meaningful progress every month in the commercial scale-up of their Cannabis production. It is important to note that the most challenging part of the scale-up process is the transition from lab/bench scale to small-scale bioreactors, and then to medium-scale bioreactors. We are eagerly looking forward to the next Cannabis milestone announcement, as we know that it will be meaningful”.

About BioHarvest Sciences Inc.

Based in Vancouver BC, BioHarvest Sciences Inc. is the developer and exclusive owner of the proprietary and patent-protected BioFarming technology. It is the first and only industrial-scale plant cell technology capable of producing the active plant ingredients without the necessity to grow the plant itself. The Company’s technology is non-GMO and has already been validated by VINIA®, the red grapes cells functional food/dietary supplement produced and sold by BioHarvest Sciences Inc. The Company plans to generate significant revenue within the global nutraceutical ingredients and dietary supplements market with VINIA® and other Super Fruit Nutraceutical products. Further, by adapting this technology to the Cannabis plant, and building adequate production capacity, BioHarvest Sciences Inc.’s objective is to become a leading supplier of Cannabis for both medicinal and legal recreational purposes. Visit:

BioHarvest Sciences Inc.
Ilan Sobel, Chief Executive Officer

For further information, please contact:

Dave Ryan, VP Investor Relations & Director
Phone: 1 (604) 622-1186
Email: dave@bioharvest.com

 

Forward-Looking Statements 

Information set forth in this news release includes forward-looking statements that are based on management’s current estimates, beliefs, intentions, and expectations, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. There is no assurance that strong sales metrics experienced to date will result in future demand or that proposed additional marketing expenditures will result in increased sales. Markets for nutraceuticals are unpredictable and subject to changes in consumer tastes and trends as well as economic factors beyond our control.  Delays and cost overruns may result in delays achieving our objectives obtaining market acceptance, and regulatory approvals for geographic expansion is subject to risk and cannot be guaranteed. There is no assurance that the Company sales revenue for 2022 will reach USD 5 to 7 million and there is no assurance that the Company cash flow breaking point will be achieved in 2023. There is no assurance of commercial availability of our Cannabis product in 2022 or that the Company achieves the conversion of the two tons VINIA® facility to Cannabis production in 2022. These things are subject to construction and approval delays and uncertainties that may be beyond the control of BioHarvest. Projected sales of Cannabis will require the Company to obtain production and/or export licensing which cannot be assured.

All forward-looking statements are inherently uncertain and actual results may be affected by a number of material factors beyond our control. Readers should not place undue reliance on forward-looking statements. BHSC does not intend to update forward-looking statement disclosures other than through our regular management discussion and analysis disclosures. 

Readers are cautioned that revenue alone do not give an accurate picture of the financial position of the Company and should be read in the context of the Company’s annual and quarterly financial statements.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.