VANCOUVER, British Columbia, Jan. 14, 2025 (GLOBE NEWSWIRE) — HYTN Innovations Inc. (CSE: HYTN, FSE: 85W0, OTC PINK: HYTNF) (“HYTN” or the “Company”), a pharmaceutical company specializing in pharmaceutical-grade cannabis manufacturing is pleased to announce that it has received a new set of import permits from the United Kingdom’s Home Office and corresponding export permits from Health Canada. These permits enable the fulfillment of international orders totaling over 400 kilograms of Good Manufacturing Practice (GMP) cannabis products, advancing HYTN’s global reach and operational capabilities.
This development underscores HYTN’s strategic transformation from a cannabis producer primarily serving the Canadian recreational market to a global manufacturer of non-sterile pharmaceuticals. The Company’s focus on international distribution aligns with its corporate update published on April 5, 2024, which outlined its dedication to meeting stringent GMP standards and addressing the growing demands of regulated markets worldwide.
“HYTN consistently meets the standards of the European Pharmacopoeia and the German Pharmacopoeia (Deutsches Arzneibuch, DAB) reflecting our dedication to quality and global expansion,” states Jason Broome, Chief Operating Officer of HYTN. “With GMP systems and an efficient operational model, we are ready to meet the rising global demand for pharmaceutical-grade cannabis products.”
The Company expects to complete all shipments permitted by these permits by the end of Q1 2025, highlighting its ability to meet international demand on schedule.
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 Good Manufacturing Practices (GMP)
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.
For more information contact:
Elliot McKerr
Chief Executive Officer
1.866.590.9289
HYTN Investor Relations:
1.866.590.9289
[email protected]
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 Company’s ability to fulfill or obtain purchase orders, and the Company’s expanded abilities to export its products globally. 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 or obtain 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.
