TORONTO, June 28, 2023 – Glow LifeTech Corp. (CSE: GLOW) (OTCQB: GLWLF) (FSE: 9DO) (“Glow” or the “Company”), a biotech innovator producing next-generation, science-backed natural ingredients, is pleased to report that it has further accelerated its path to commercialization following its successful pilot-scale production of MyCell® water-soluble cannabis ingredients and the expansion of its cannabis ingredient portfolio with the development of MyCell® CBN and CBG to address the emerging market demand for rare cannabinoids.
“This important milestone marks a major inflection point for Glow and our commercial path to market in Canada,” said Rob Carducci, Chief Commercial Officer, Glow LifeTech. “With a deep portfolio of cutting-edge cannabis ingredients, now ready for commercial production, we are in a strong position to advance our launch plans into the Canadian market.”
The Company has successfully completed pilot-scale production of its proprietary MyCell® THC and CBD ingredients, at its Canadian processing facility, accelerating the commercialization of its cannabis product portfolio for the Canadian market. Concurrently, the Company has completed the development of two additional water-soluble cannabinoid ingredients, MyCell® CBN and MyCell® CBG. These two new ingredients leverage Glow’s MyCell® delivery system to optimize their absorption, bioavailability and effectiveness, and position the Company to capitalize on the rapidly emerging market demand for rare cannabinoids.
“Our team is focused on pushing the boundaries of innovation and performance of natural health applications using Glow’s unique cutting-edge MyCell® technology,” said Tom Glawdel, Chief Operating Officer, Glow LifeTech. “MyCell® CBN and CBG unlocks a step-change in performance of rare cannabinoids with faster-onset, improved bioavailability and precision dosing, with a virtually tasteless taste profile.”
While many people are familiar with THC and CBD, they are only two of the over 100 cannabinoids or chemical compounds found in the cannabis plant. CBN (Cannabinol) and CBG (Cannabigerol) are both rare cannabinoids found in cannabis plants. CBN is known for its potential calming and sleep-inducing properties, while CBG has shown promise as a potential anti-inflammatory and neuroprotective compound, although much more research is needed to fully understand the benefits. These cannabinoids have gained significant attention in the market due to their unique benefits and the increasing consumer demand for natural remedies. Grand View Research calculates the U.S. market for minor or rare cannabinoids totaled $9.2 billion in 2022
MyCell Technology is Glow’s proprietary delivery system that optimizes the absorption, bioavailability and effectiveness of natural active compounds including vitamins, cannabinoids and botanicals, using only 100% natural, food-grade components. It transforms poorly absorbed natural compounds into water-compatible concentrates that have fast-acting onset, high-absorption, precision dosing and a clean taste profile. With its portfolio of industry-leading ingredients, Glow is powering a new era of more efficient, fast-acting, and great tasting functional foods, beverages, supplements, and personal care products.
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About Glow LifeTech Corp.
Glow LifeTech is a Canadian-based biotechnology company focused on producing nutraceutical and cannabinoid-based products with dramatically enhanced bioavailability, absorption and effectiveness. Glow has rights to the groundbreaking, plant-based MyCell Technology® delivery system, which transforms poorly absorbed natural compounds into enhanced water-compatible concentrates that unlock the full healing potential of the valuable compounds.
James Van Staveren
Glow LifeTech Corp.
TF. 855-442-GLOW (4569)
EU Investor Relations
+49 (0) 177 774 2314
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates 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 anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the commercialization plans for the technology described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com
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