Toronto, ON, Nov. 15, 2017 (GLOBE NEWSWIRE) — ALGAE DYNAMICS CORP (OTC: ADYNF) (the “Company”), a developer of unique health products utilizing cannabis and algae oils, today announced that it has secured a US$250,000 investment from Teewinot Life Sciences Corporation (“Teewinot”). Teewinot is a leader in the development of biosynthetic cannabinoids that have the identical chemical structure of cannabinoids found in the Cannabis plant. The Company intends to use the funds for its research programs with The University of Waterloo and University of Western Ontario, that have been announced previously, as well as for general & administrative expenses and compliance.
Paul Ramsay, the Company’s Chairman and President said, “These funds will allow us to continue our important university research programs and provide resources to move forward at an accelerated pace. We believe this new relationship with Teewinot will provide strategic value that will provide long term benefits for all of our key stakeholders”.
Jeffrey M. Korentur, President and CEO of Teewinot, commented, “We’re delighted to make this investment in Algae Dynamics. Their research, along with that of their collaboration partners, appears poised to make important discoveries across a variety of indications.”
About Teewinot Life Sciences Corporation
Teewinot Life Sciences Corporation is an international cannabinoid biotechnology company focused on advanced pharmaceutical research and nutraceutical product development. Teewinot is a leader in the formulation, manufacturing, and delivery of products containing cannabinoids, cannabinoid prodrugs, and cannabinoid analogs. With headquarters in Tampa, Florida, and subsidiaries in Ireland and Canada, Teewinot’s global proprietary technology and intellectual property portfolio represents a breakthrough in creating safe and standardized cannabinoids for diverse consumer markets. For more information, please visit www.tlscorp.com or follow us on Twitter (@teewinot_corp).
For more information, visit www.tlscorp.com
About Algae Dynamics Corp
ADC is engaged in the development of unique health products that utilize cannabis and algae oils. We have engaged two Canadian Universities to provide research and to develop products that combine the significant health benefits of Omega-3s derived from algae oil and extracts from cannabis oil. Our research is focused on the development of these oils for the potential reduction of certain types of cancer cells, and the use of cannabis derivatives for the development of novel pharmacotherapies for mental health.
For more information, visit http://www.algaedynamics.com
This news release contains “forward-looking statements” as that term is defined in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, use of proceeds and the development, costs and results of current or future actions and opportunities in the sector. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies, our ability to raise the additional funding we will need to continue to pursue our exploration and development program, and our ability to retain important members of our management team and attract other qualified personnel. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.
Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.