Cronos Group, Inc. (OTCMKTS:PRMCF) posted that subsequent a broad audit, the firm’s LP, the Peace Naturals Project Inc., has been attained a GMP certification as per the rules for medical products in the EU. This certification permits Peace to supply medicinal cannabis in the EU as additional markets are covered.
The broad GMP assessment was done by German health examiners and watchdogs from the EU and encompassed the additional certification of Peace’s modern purpose-built manufacturing set-up. This European GMP authorization comes in the list of the top standards that a pharma producer can encounter for medical products, and displays an observance to comprehensive guidelines that spread beyond the prevailing Health Canada procedures for ACMPR LPs.
Mike Gorenstein, who is the Chief Executive Officer of Cronos, posted that it is an incredible accomplishment that further distinguishes Peace as a business pioneer concentrated on establishing the universal gold standard. As a GMP agreed LP, Peace is prepared to exploit on its first mover value and reaffirm their spot as a pioneer in the space by mounting international distribution setup.
During the year completed December 2016, Cronos moved the business strategy to a model engrossed on ramping up and augmenting production at its subsidiary businesses. It is applicable for both the subsidiary firms.
Eventually, Cronos also settled a joint deal with First Nations preceding year to create Indigenous Roots Inc. This association covers the construction of a pilot production facility on the ITZ’s legalized asset in British Columbia and strategies for a countrywide distribution program.
The CEO added that the team emphasis is on optimizing the firm’s current manufacturing footprint, mounting overall production capacity, and targeting a global distribution setup in the course of presenting world-class brands. They remained methodical in their approach and are certain that the best will be achieved soon.