VANCOUVER, Jan. 6, 2020 /CNW/ - BetterLife Pharma Inc. ("BetterLife" or the "Company") (CSE: BETR / OTCQB: PVOTF / FRA: NPAT) today announced that it has submitted its site evidence package to Health Canada for the Company's cannabis formulation, processing and packaging facility in Montreal. The site evidence package submission is the final step required to obtain a license to produce CBD, phytocannabinoid and our advanced nutraceutical formulations at its state of the art facility.
"The site evidence package demonstrates to Health Canada that the BetterLife facility is fully compliant and ready to operate," stated Chris Lucky, Chief Operating Officer of BetterLife. "We expect to receive our processing license for BetterLife in Q2 and start production shortly after."
"This site evidence package is a significant milestone for BetterLife towards becoming a licensed producer of our advanced phytocannbinoids nutraceutical and micronutrient formulations," said Toni Rinow Chief Executive Officer of BetterLife. "Our team has spent the last few months ensuring this state-of-the-art, facility complies with Good Manufacturing Practice (GMP) standards. We will initiate quickly a program of accelerated and advanced stability of our formulations."
About BetterLife Pharma Inc.
BetterLife Pharma Inc. is a science-based innovative medical wellness company aspiring to offer high-quality preventive and self-care products to its customers. BetterLife has developed pharmaceutical grade products including CBD, phytocannabinoid and micronutrient derived formulations utilizing proprietary drug delivery technologies that are unique, patent protected and with clear superior benefits to the user such as high absorption, low bioburden and ease of use. BetterLife is uniquely positioned to execute on its brand leader strategy in its main markets in Germany, US and Canada.
Cautionary Note Regarding Forward-Looking Statements
Except for historical information, the matters set forth above may be forward-looking statements that involve risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, such as the failure to meet the conditions imposed by the CSE or other securities regulators, the level of business and consumer spending, the amount of sales of BetterLife's products, statements with respect to internal expectations, the competitive environment within the industry, the ability of BetterLife to continue to expand its operations, the level of costs incurred in connection with BetterLife's expansion efforts, economic conditions in the industry, and the financial strength of BetterLife's customers and suppliers. BetterLife does not undertake any obligation to update such forward-looking statements.
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SOURCE BetterLife Pharma Inc.