Canada: Charlottetown company squeezes out deal to extract cannabis oil
A new P.E.I.-based business is putting the squeeze on cannabis — literally.
Charlottetown's Advanced Extraction Systems Inc. has just sealed a deal with Canopy Growth, a medical marijuana company based out of Smiths Falls, Ont., to provide the equipment to extract cannabis oil directly from marijuana plants.
In a release, Canopy Growth chairman Bruce Linton said the deal will help meet a growing demand.
"Our extracted oil products have been very popular since being launched to our medical customers earlier this year," he said.
"Looking forward to a broader legal marijuana market, we know we'll need greater capacity and AESI's industrial-scale technology will help us meet the growing demand we're forecasting."
Last year, Health Canada gave medicinal pot growers the green light to produce cannabis oil and other plant extracts, rather than producing medical marijuana strictly in bud form.
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