VANCOUVER, July 15th, 2019 - Segra International Corp. ("Segra" or the "Company") an agriculture technology company, is pleased to announce that it has received its Industrial Hemp Grower Registration licence, allowing the Company to commence hemp tissue culture operations in Oregon. The Company's newly licensed, Portland-based laboratory represents Segra's premiere entry into the U.S. hemp space. The Company's hemp operations are being developed concurrently with its Canadian cannabis strategy.
Segra's Portland laboratory will be used for hemp cultivar preservation and production of disease-free, true-to-type tissue culture hemp plantlets. U.S. federal law requires that tetrahydrocannabinol (THC) levels in hemp crops be below 0.3%. The Company, along with its genetics partners, intends to offer U.S. hemp growers access to premium and exclusive high-CBD, low-THC cultivars.
"Backed by our genetics partners and world-class genomics division, we're eager to demonstrate the value that our tissue culture technology brings to the industrial hemp space," said Segra CEO Todd McMurray. It is anticipated that Segra's U.S. hemp operations will commence later this year. Recent analysis conducted by BDS Analytics and Arcview Market Research estimated the U.S. CBD market to exceed $20 billion by 2024.
About Segra International
Segra 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.
This 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.
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